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Latest global filings showed Samsung Electronics posted sales of 17.04 trillion Korean won (about ₹1,03,229 crore) in India in 2024, signalling a 12% year-on-year growth. LG Electronics' data showed sales in India surged 14% YoY to 3.79 trillion Korean won last year. The filings did not attribute reasons for the financial performance.
By contrast, Samsung's sales in India in 2023 had declined by 6% over 2022, while LG's had expanded by a marginal 3.5% in the same period, the filings show. Both the chaebols globally follow the calendar year as their respective fiscal years. An industry executive said the Korean duo overcame a circumspect local market through aggressive new launches, promotional offers, and discounts, especially during the crucial festive season. They are also expanding exports out of India, especially Samsung in smartphones.
«They are rolling out new trending features like AI in their products,» he said. The filings show Samsung India's profit surged 22% YoY to 1.41 trillion Korean won (about ₹8,527 crore) in 2024, while that of LG's climbed 43% YoY to 331 billion Korean won (about ₹2,000 crore).
In India, Samsung and LG enjoy leadership in most categories. Samsung leads in televisions and has a competitive market share in smartphones, despite the availability of cheaper Chinese alternatives. LG, meanwhile, leads in refrigerators,
