South Korean conglomerate Samsung expanded at the slowest pace in India in more than a decade in 2014-15,triggering restructing, head count
reduction, beefing up of product portfolio and cutting of flab to reverse the trend at the country’s largest consumer electronics and mobile phone maker. As per the annual return form filed with ROC, Samsung India Electronics’ turnover in 2014-15 was Rs 38,868 crore.
Turnover, as defined in the companies Act 013 is the aggregate value of realization of amount made from sale,supply or distribution of goods and services rendered by a company. Samsung India’s gross revenue, including excise and other income, grew 3% to Rs 41,575 crore fro Rs40,392 crore in 2013-14, official said.
This could not be independently verified through since the data is not yet available from the registrar. The meagre growth is a huge setback for the company, which grew 40% in last 2 years and has been growing its business 10-15% a year since it entered India in the late 1990s.