Samsung heir in India

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

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.