Samsung’s India business has lost two senior executives as the consumer electronics company is facing tough competition in the country.
Ranjivjit Singh, senior vice president and chief marketing officer, who was in charge of mobile phone marketing and Sukesh Jain, senior vice president, Enterprise Business have resigned on Monday, The Economic Times reported.
Singh’s responsibilities will now be managed by Aditya Babbar who will handle the mobile phone marketing. Jain’s role in the company has been taken over by Senior Director Akash Saxena.
Samsung is planning its biggest tech event in February. Samsung is expected to unveil its flagships for 2020 including the all new Galaxy S11/20 series.
Samsung India is facing tough competition from brands including Vivo, OPPO, OnePlus and Realme – owned by BBK.
Research firm IDC says BBK gained 40 percent market share compared to its previous 20 percent market share. Samsung’s share in the Indian market was estimated to be 19.1 percent losing its hold over one of its prime smartphone markets.
Samsung India’s net income grew 20 percent, while net profit dipped over 58 percent in FY 18-19 to Rs 1,540.5 crore, according to regulatory filings.
Samsung Electronics is expected to announce its fourth quarter financial result on January 8, 2020.
Samsung Electronics said operating profit climbed 20.4 percent to 17.5 trillion won ($15.5 billion) on a 4.8 percent gain in revenue in Q3 2019.
The estimated third-quarter operating profit jumped by a fifth to a record high, with its semiconductor unit bolstered by robust demand from data centers and gains in production yields.