 "For durables, Indians continue to trust foreign brands")
The second largest is home-grown Videocon Industries, controlled by the Dhoot family.
However, Samsung earned more than double of what Videocon reported in 2013-14. With a 45 per cent jump in its top line, Samsung had a revenue of Rs 40,392 crore from the Indian market in 2013-14, according to the company's filings with the registrar of companies (RoC). Videocon, listed on the BSE, reported a 41 per cent growth in revenue to Rs 18,157 crore last year.
Four of the top five consumer durables companies in India are unlisted and subsidiaries of either South Korean or Japanese companies. According to filings with the RoC, LG Electronics India, a subsidiary of South Korea's LG Electronics, ranks third with revenue of Rs 11,580 crore in 2013-14.
While the top two consumer durables companies have grown at about 40 per cent over the previous year, LG Electronics, which shifted focus to premium products from its mass-market product strategy, posted a marginal one per cent revenue growth in 2013-14 over the previous year. Five years ago, LG Electronics was the largest consumer durables company in India, far ahead of Videocon and Samsung.
Sony India reported 21 per cent growth in revenue in 2013-14 over the previous year. Panasonic India is yet to give details to the RoC. Sony is fast reducing the revenue gap with LG and the rankings could be different next year. The pecking order also changes if profit is a criterion. Samsung is still on top, with profit more than four times what LG Electronics, the second player, earned in 2013-14. LG Electronics' profits show the company's focus on premium products is paying off; its net profit increased about 30 per cent in 2013-14 to Rs 634 crore. This is good news for its South Korean parent, which is reporting losses globally and is banking on a few markets, including India.
Consumer durables companies that have shifted their focus to mobile devices have performed better than counterparts. Samsung, for instance, generated 69 per cent of its revenue from mobile devices in 2013-14, up from 39 per cent in 2009-10.
Sony India, which shifted focus to mobile devices about a year ago, has grown faster. While LG Electronics also has mobile devices in its portfolio, it has not managed to get a foothold in India. Panasonic, too, has a limited presence in the segment.
In an interview to Business Standard in April, Sony India Managing Director Kenichiro Hibi had said about 35 per cent of the company's revenue was from mobile phones. The company started selling smartphones in 2013 and it aims to capture at least 10 per cent market share in India by 2015.