Samsung heir in India

October 2019 \ Business & Investment \ INDIA-SOUTH KOREA TIES

Samsung Electronics Vice Chairman Lee Jae-yong ...

India currently has over 450 million smartphone users. The number of smartphone users in the country is expected to reach 859 million by 2022, according to an ASSOCHAM-PwC joint study. In such a scenario, Samsung’s heir’s visit is important in the festive season when the consumer electronics market is booming and consumer spending is witnessing an all-time rise, especially from the smaller cities and towns.

Samsung India is targeting business worth Rs 3,000 crore by selling over 2 million smartphones online before Diwali that falls on October 27. “Mr Lee’s recent visits show Samsung has a big interest in the Indian market,” the source added. Mr Lee is the only son of hospitalized Samsung Group chief Lee Kun-hee.