Samsung India, a subsidiary of the South Korea-based electronics major, on Thursday elevated two of its Indian executives to global roles.
Asim Warsi, currently Head of Samsung India’s Mobile Division, has been made Global Vice-President, while Dipesh Shah, Managing Director of Samsung R&D Institute in Bengaluru, has been promoted to the role of Global Senior Vice-President, the company said.
However, both the executives will continue to be based in India, leading their respective divisions, it said.
The promotions are based on the company’s growth plans for the Indian smartphone market and successfully becoming part of the Make in India programme.
Recently, the South Korean company also announced its new leadership for its next phase of growth.
Presidents Kinam Kim, Hyunsuk (HS) Kim, and Dongjin (DJ) Koh will succeed Vice-Chairman Oh-Hyun Kwon, and Presidents Boo-Keun Yoon and Jong-Kyun Shin, respectively, as heads of the Device Solutions, Consumer Electronics, and IT and Mobile Communications divisions.
“The company will maintain the current three co-CEO management structure. All new appointments will be effective immediately,” the company had announced on October 31.
At the next annual general meeting in March 2018, the three new division heads, as well as Chairman Lee Kun-hee, will join the Board of Directors. Kwon, Yoon and Shin will remain members of the board until then, it had said. According to experts tracking the industry, the elevation of the Indian senior leaders is meaningful because the company has been investing a lot in its manufacturing sites in the country, which are meant for exports, too.
Indian investments In June, the company had announced an investment of ₹4,915 crore in its Noida plant over the next three years, to double the production capacity of refrigerators and smartphones.
Competition However, Samsung is facing intense competition from its Chinese rivals, especially in the smartphone segment. According to the latest (Q3 2017) report by CyberMedia Research (CMR), Xiaomi has the same market share (11 per cent) as Samsung in the smartphone segment.
“Interestingly, Xiaomi recorded 84 per cent sequential growth in Q3 2017 to be on par with Samsung in smartphone shipments. However, Xiaomi’s future growth will depend on its offline channel strategy to counter competition,” said Narinder Kumar, Analyst at CMR.
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