The net profit of consumer electronics company Samsung India Electronics increased by 13.73 percent to Rs 8,188.7 crore in the last financial year 2023-24. During this period, the operating income of the company increased marginally by 0.30 percent to Rs 99,541.6 crore. This information has been obtained from financial data obtained through business intelligence platform Tofler. The company had reported a net profit of Rs 3,450.1 crore and operating income of Rs 96,632.4 crore in the financial year ending March 31, 2023. Total expenses of Samsung India Electronics stood at Rs 91,646.3 crore, which was Rs 93,801.7 crore last year.
Samsung India’s total income
According to the news, in the financial year 2023-24, Samsung India’s revenue from the domestic market was Rs 60,817.9 crore and from exports was Rs 38,723.7 crore. Samsung India’s total income including other income crossed the Rs 1 lakh crore mark to Rs 1,02,628.3 crore in the financial year ending March 31, 2024. According to Toffler data, this amount was the highest in the last five years. An email sent to Samsung India Electronics seeking comment regarding the regulatory information remained unanswered till the time of going to press.
At the forefront of the smartphone market
South Korean electronics company Samsung continues to lead the Indian smartphone market by value with 22.8 percent market share. Samsung has narrowed the gap with iPhone maker Apple in the third quarter of 2024. This has been said in Counterpoint’s research report. Apple stood second behind Samsung in the Indian smartphone market in terms of value during the July-September quarter. Samsung currently leads the market in terms of value with 23 percent share. The brand is prioritizing its flagship Galaxy S series and growing its value-driven portfolio.
In the first phase of festive season sales, Samsung has topped the smartphone segment in terms of numbers with 20 percent market share. Consumers purchased more than 1 million iPhones during the festive sale held between September 26 and October 6.
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