Kolkata: Samsung India‘s managing director HC Hong is moving to head the overall Latin America region for the Korean smartphone and electronics giant. The company announced the exit of Hong by informing select trade partners and employees on Friday.
Samsung India did not respond to an email till Friday press time.
The change in Indian operation comes on the heels of Samsung rejigging its global top management team earlier this month which included change of the global mobile business chief and 162 executives who earned promotion in an annual reshuffle exercise.
Industry executives said this change of guard for the Indian business may lead to a change in Indian senior management team too when the new MD takes charge.
Under Hong, Samsung more than doubled its India revenue which crossed the $10-billion (Rs 73,086 crore) sales milestone last fiscal and set up the world’s largest mobile phone factory in Noida.
However, Samsung India is facing profit pressure in India with net profit declined to Rs 1,540 crore in FY19 from recent peak of Rs 4,156 crore in FY17. It has now decided to stay away from price war with the Chinese brands, cutting cost, frozen hiring, removing unnecessary roles which has led to some job losses too.
Samsung is the country’s largest mobile phone maker by revenue, but in smartphone volume sales it has taken the second spot for couple of years now with China’s Xiaomi grabbing the top position. It is also facing stiff competition from OnePlus, Realme, Oppo and Vivo.