India a key strategic mkt, remain optimistic about its growth trajectory, says Samsung

New Delhi: Consumer electronics major Samsung sees India as a “key strategic market” with “immense potential” and stays optimistic about its growth trajectory, a top company official said.

The comment comes against the backdrop of global trade and tariff turmoil, and the latest US salvo of 25 per cent tariff imposition on India.

India is not just a strategic market for Samsung but a key pillar in its global future, said JB Park, President and CEO, Samsung Southwest Asia, adding the South Korean Chaebol will “continue to invest in innovation, manufacturing, and local value addition, aligning with India’s vision of a self-reliant economy.”

Samsung’s long-term commitment to India remains unwavering, as it sees the country as a cornerstone of its global strategy, he said.

Samsung views India as a key strategic market with immense potential. The company remains optimistic about India’s growth trajectory, driven by government initiatives like Make in India, Digital India, and a robust digital ecosystem. Samsung continues to invest in innovation, manufacturing, and local value addition, aligning with India’s vision of a self-reliant economy,” said Park.

The company, which reported revenue of over Rs 1 lakh crore in FY24 from the Indian market, and operates here with two manufacturing plants, three R&D centres, and one design centre, India plays a crucial role, catering to both local demand and global markets. Samsung, which recently introduced the seventh edition of its flagship foldable smartphone Galaxy Z series, plans to locally manufacture in India at its Noida plant.

According to Park, “These new phones will be manufactured at our Noida factory”.

Acknowledging the role of India in its development, Park, at a media roundtable last month in New York ahead of the launch, had said engineers from Samsung India’s Bengaluru R&D facility have contributed significantly to the development of the new devices.

Samsung, which had priced its Galaxy Z Fold7 starting from Rs 1.75 lakh to Rs 2.11 lakh, had last week said it is witnessing an “unprecedented demand” for the flagship foldable phone as it has “stocked out in select markets”.

The company has received over 2.1 lakh pre-orders for Galaxy Z Fold7, Galaxy ZFlip7 and Galaxy Z Flip7 FE and is taking necessary steps at its manufacturing factory in Noida to meet the demand. Over the reparability factors of the Fold and the Flip series, Park said the company has found a solution on the cost side. PTI