Despite the drop in shipments, Samsung has become the first smartphone and consumer electronics company to achieve $10 billion in revenue, as it marks its 25th anniversary in India.
Citing Samsung’s latest regulatory filings recorded with the Registrar of Companies (RoC), the media reported that Samsung recorded revenue of $10.01 billion (Rs. 73,086 crore) in 2018-2019.
In India, the company posted a 20 percent jump in revenue in fiscal year (FY) 2019, doubling its growth rate of 10 percent achieved during FY18.
Samsung’s smartphone category contributed 60 percent of its overall revenue, followed by TVs and home appliances.
The company first forayed into the Indian market back in 1995. Outside of South Korea, Samsung also has the largest mobile manufacturing plant on the outskirts of the Indian capital.
Samsung has five research and development centres and one design centre in the country and is also the biggest employers in India with over 70,000 employees.
In the smartphone category, Chinese player Xiaomi captured 27.1 percent of the Indian market in the third quarter of 2019, while Samsung slipped to the second spot with an 18.2 percent market share.
Other Chinese phone makers -- Oppo, and vivo grabbed market shares of 11.8 percent and 15.2 percent respectively.
Chinese mobile phone manufacturers dethroned Samsung from the "top seller" position in the Indian market in 2017.