Nokia is now bigger than Unilever in India. With revenues of Euro 2.71 billion (Rs 15,398 crore) for the year ended December 2006, Nokia is probably amongst the largest MNCs in India. Hindustan Unilever, the largest listed MNC in India, posted revenues of Rs 12,103 crore for 2006. Though present in different businesses, both companies are among the most visible brands in India.Since most of the large MNCs are unlisted, they do not give out revenue figures for specific markets. These numbers are consolidated in the parent company’s balance sheet.
So how does it stack up against the other major MNCs in India. Take consumer electronics leader, LG Electronics, for instance. It ended the year with revenues of Rs 8,250 cr. On the other hand, the second largest car manufacturer, Hyundai Motors had projected revenues from India in region of $2 billion, which translates to around Rs 9,000 cr. Similarly, the combined revenues of soft drinks giants, Coke and Pepsi are in the region of Rs 10,000 cr.
Driven by scorching growth in the telecom market, India is now the third largest market for Nokia after China and US. The gap between US and India has narrowed down and at this growth rate, India could overtake it next year. Last year, India was ranked at number five among Nokia’s biggest markets. India is followed by UK, Germany, Russia, Italy among Nokia’s top markets.
Wicked!