Samsung chief renews commitment to India


Samsung Electronics Chairman Lee Jae-yong visited Mumbai over the weekend for an inspection of the company's operations in India, following his attendance at the wedding of Anant Ambani, the youngest son of Reliance Industries Chairman Mukesh Ambani. During his visit, Lee emphasized the importance of achieving historic success with a strong competitive spirit and sense of urgency. Samsung has been investing heavily in the Indian market to expand its presence, attracted by the country's population of 1.44 billion and its status as the world's fastest-growing major economy, surpassing China. Since entering the market in 1995, Samsung has become the largest seller of smartphones and TVs in the nation, and it operates production plants there, employing around 180,000 workers. India also plays a crucial role in Samsung's talent pool, with its skilled scientists and engineers contributing to the development of core functions for Samsung's flagship products. Additionally, Samsung has maintained its position as the leading seller of TVs in India since 2017 and regained the title of top smartphone maker in 2023, outpacing Chinese rivals such as Vivo and Xiaomi. Meanwhile, Mukesh Ambani, who invited Lee to the wedding, is the wealthiest tycoon in India and the ninth in the world, with a net worth of $116 billion. His company, Reliance Industries, is India's largest, employing over 376,000 people across various sectors with an annual revenue of $119 billion. The Ambani family weddings are known as high-profile networking events, attracting global figures from the world of business and politics.


Previous Post Next Post