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Nokia overtakes Unilever as the biggest MNC in India
By siliconindia
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Monday, 12 March 2007, 17:30 IST
New Delhi: Nokia has grown to be bigger than Unilever of India, with revenues reaching up to Euro 2.71 billion (
15,398 crore). Nokia is almost certainly amongst the largest MNCs in India. Hindustan Unilever the largest listed MNC in India, posted revenues of 12, 103 crore for 2006. Though present in different businesses, both companies are among the most visible brands of India.
In fact most of the MNCs are unlisted, and they did not reveal their revenue figures for specific markets reported a national daily. These numbers are consolidated in the parent company?s balance sheets. So how does it stack up against the other major MNCs in India. Consumer electronics in India, LG Electronics for instance. It ended the year with revenues of 8,250 crore.
On the other hand the second largest car manufacturer, Hyundai Motors had projected revenues from India in region of $2 billion, which translates to around 9,000 crore. Likewise, the combined revenues of soft drinks giants Coke and Pepsi are in the region of 10, 000 crore. India is now the third largest market for Nokia after China and US.
The gap between US and India has narrowed down and at this growth rate, India could overtake next year. Last year, India was ranked at number five among Nokia?s biggest markets. India is followed by UK, Germany, Russia, and Italy among Nokia?s top markets.
Nokia?s revenues for the year 2006 were at Euro 41.1 billion, with 20 percent coming from the Asia-Pacific region. More than half of the revenues from India grew by 100 percent in handset volumes in last year in India with a market share of more than 70 percent. India?s mobile subscriber base has crossed 200 million with 5-6 million subscribers being added every month.
15,398 crore). Nokia is almost certainly amongst the largest MNCs in India. Hindustan Unilever the largest listed MNC in India, posted revenues of 12, 103 crore for 2006. Though present in different businesses, both companies are among the most visible brands of India.
In fact most of the MNCs are unlisted, and they did not reveal their revenue figures for specific markets reported a national daily. These numbers are consolidated in the parent company?s balance sheets. So how does it stack up against the other major MNCs in India. Consumer electronics in India, LG Electronics for instance. It ended the year with revenues of 8,250 crore.
On the other hand the second largest car manufacturer, Hyundai Motors had projected revenues from India in region of $2 billion, which translates to around 9,000 crore. Likewise, the combined revenues of soft drinks giants Coke and Pepsi are in the region of 10, 000 crore. India is now the third largest market for Nokia after China and US.
The gap between US and India has narrowed down and at this growth rate, India could overtake next year. Last year, India was ranked at number five among Nokia?s biggest markets. India is followed by UK, Germany, Russia, and Italy among Nokia?s top markets.
Nokia?s revenues for the year 2006 were at Euro 41.1 billion, with 20 percent coming from the Asia-Pacific region. More than half of the revenues from India grew by 100 percent in handset volumes in last year in India with a market share of more than 70 percent. India?s mobile subscriber base has crossed 200 million with 5-6 million subscribers being added every month.