Samsung India Said To Face Exodus Of Public Policy Execs
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Three public policy executives from Samsung Electronics’ India team have resigned, as the country’s largest smartphone player faces several regulatory challenges, per a Reuters report.

What Happened? According to Reuters sources, the executives who have left the company are Binu George, who handled corporate affairs and strategy; Surabhi Pant, who worked on policy and public affairs, and Nikhil Kaura from the same team. They all quit last week.

The report notes that public policy teams play increasingly critical roles in companies’ efforts to balance regulatory issues as Prime Minister Narendra Modi’s government has boosted domestic electronics manufacturing while backing tougher regulations on tech firms.

Two sources told Reuters that they were part of a seven-member team headed by Rajiv Aggarwal, a former bureaucrat who led public policy at Meta and Uber in India before joining Samsung in December.

See also: Apple Wants No Part Of The Mumbai-Delhi Rivalry As It Gears To Open 2nd Store On April 20

The reasons for their departures were not immediately clear. However, they come at a time of challenges for Samsung in a key growth market, where it recently outpaced its rival Xiaomi to become the biggest smartphone player.

Samsung’s sales in India in fiscal 2021-22 amounted to $10.3 billion (₹84,575.42 crore), with smartphones accounting for $6.7 billion (₹55,015.7 crore). Its market share of 20% for the last quarter of 2022 made it the largest player, according to data from Counterpoint Research.

Read next: Apple, Samsung Drive Up Premium Segment Even As India Sees Overall Decline In Smartphone Shipments

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
GovernmentRegulationsTechPublic policySamsung