KOLKATA|NEW DELHI: Samsung has overtaken foremost combat LG in India after more than a decade of coordinated clash to become a bigger player in the Rs 1,10,000-crore Indian consumer electronics and versatile handset market, thanks to its booming nimble handset corporation. Data disclosed by the two firms to the Registrar of Companies (RoC) for 2009-10 show that Samsung has, for the chief time, outgrown LG in the country, both in revenues and profit. "Samsung is thrilling forward in categories that are growing faster and have more replacement demand, for example unfixed handsets and digital cameras," says an disconnected perseverance beholder who did not thirst to be named.
"People buy, say, a fridge for 5-10 years, but they coin travelling handsets almost every year," he adds. Samsung India reported openwork sales of Rs 11,663 crore and bottom-line literary behoof of Rs 402 crore for the year ended March 2010, against LG India's Rs 10,691-crore netting sales and Rs 347-crore nett profit. Numbers for the year ended March '11 will be disclosed to RoC after a few months. Industry insiders try to say the pecking classify is unimaginable to wigwag back in champion of LG anytime soon.
This is because LG is nowhere near Samsung in the Rs 75,000-crore motorized handset market, which is more than false the immensity of all consumer electronics and appliances put together. The triumph of the unstationary handset dealing has been the willing changer for Samsung in India, where it still trails LG in most other consumer electronics and appliance categories, including refrigerators, washing machines, microwave ovens, air-conditioners and televisions. But Samsung leads LG in the freebie flat-panel TV market.
Together, the two Korean companies hold more than half the supermarket partition in most categories. Samsung is also bonus in other fast-growing categories have a fondness digital cameras, camcorders and laptops, but LG has stopped selling or never launched these products in the country. "Our seek is to become the lid electronics throng in India and we are looking at consolidating our aura across all our establishment divisions," said Samsung India President & CEO JS Shin.
But LG's experimental nation head, Soon Kwon, who took over as managing gaffer from Moon B Shin in January, said the troop would persist in to over the Indian residency appliances and electronics market. "In durables, LG is far in advance of any contention where we like a sizeable 30% share, which we contemplate to regard up to 35%." Kwon acknowledged that LG India needs to reinforce its plastic handset and IT products business, and said he spends almost 70% of his energies on growing the portable phone business. "Without celebrity in sensitive phones, we may not be able to care for our identify name as maximum as now," he said.
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