South Korean smartphone and electronics giant Samsung has just revealed information about the performance of the company as part of its Regulatory filings to the Registrar of Companies (RoC). As part of the filing, the company has revealed a number of important facts about the performance of the company in 2018. Taking a closer look at the numbers shared as part of the regulatory filing, the company stated a 10 percent increase in the annual revenue of the company and an 11 percent loss in net profit of the company. Overall, the company crossed the Rs 60,000 crore marker in terms of the annual revenue.
According to an in-depth report by The Economic Times, aggressive pricing of the devices to compete with Chinese smartphone makers including Xiaomi, OnePlus, Oppo, and Vivo have been the result of decreasing net profit. Focusing on the specifics, the company touched Rs 61,065.6 as the annual income in 2017-18 from the Rs 55,511.9 crore in 2016-17. In terms of the profit, the company saw a dip of 10.7 percent to reduce its profit to Rs 3,712.2 crore.
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Further digging into the figures shared by the company, it remains as the market leader along with a “high pace” of sales by clocking 37 percent growth. In plain numbers that amount to Rs 37,379 crore which is far ahead of the likes of Xiaomi, Oppo, Vivo, and Apple India. The report also revealed that the company “continues to be the most profitable” smartphone maker and consumer electronics brand in India.
Moving to the TV segment, the sales for the company declined in terms of revenue by 3 percent while the profit increased by 88 percent to scale up to Rs 222 crore. The reason for this is because the company has shifted its focus on TVs with premium and large screen models to drive the profit.