Samsung is expecting a tremendous growth this year as it has seen exemplary results in the last financial year. The tech-giant in India has seen a hike of 27% in the revenue landing to more than 34,000 crores for March 2017. This is remarkable and one of the fastest growth rates of the year. If you are wondering how is this possible for Samsung, well it is. The smartphones have generated about 60 % of revenue for the financial year 2017.
There has been a rise of 20 % which generated about Rs 57,000 crores and if you take a minute and glance at the financial year of 2016 the growth was 19 % leading to Rs 47,000 crores. This drop in percentage was due to the misfortunate Samsung Galaxy Note 7, which was recalled because of major battery issues. The Note 7 did not even see the light of the day in India as it was recalled officially by the Korean company.
The Note 7 caused explosions and was in the no-fly zone, users were asked not to switch on their Note 7 even when the flight mode was on. If the handset had been released in India it would have given Samsung a hike of around Rs 6,700 crores. for the financial year of 2015-2016.
Asim Warsi (Samsung India’s senior vice-president) for mobile division said, “had the Note 7 been there, the numbers could have been better… our Note users wait for the next model, which has resulted in high uptake of Note 8 when it came to the market.”
But as the saying goes on let bygones be bygones, this year Samsung is confident that their revenue will grow as it was anticipated last year. This time the J-series affordable smartphones have sold a lot of units and the Galaxy S8 and Galaxy Note 8 (the high-end smartphones). Note 8 is the flagship smartphone of the year 2017.
On the other hand, if we shed some light on the growth of Samsung’s competition (Apple). The Cupertino company saw a growth of 17 % this year which amounted to Rs 11,618 crores this has been the slowest growth rate for Apple ever. Although Samsung is ahead of Apple, still it is facing tough competition from Xioami. The Chinese company has had a glorious year with 700 % growth with a revenue of Rs 8,379 crores last year. Even Vivo and Oppo are taking bold steps and are in the market.
What are your views on the growth of Samsung? Will the company beat Xiaomi or will Xiaomi maintain its lead? Let us know your thoughts in the comment section below.