Korean technology giant Samsung has appointed HyunChil Hong as the managing director of Samsung India & president of South West Asia. He will be taking over from B.D. Park and will be based out of Gurgaon, India. Park will be moving back to Samsung’s Korea headquarters, where he will be heading the sales and marketing for the company’s digital appliances business.
Samsung said Hong will lead Samsung’s business in South West Asia that includes India, Sri Lanka, Bangladesh and Nepal. Prior to this appointment, Hong worked as the president for Samsung Electronics Latin America for three years. Before that, he headed the company’s sales in Chile.
Exits at Samsung India
This appointment comes at a time when Samsung India is witnessing a number of exits in the top management this year, CFO Sunil Goel had quit the company after a 17 year stint in October this year, while Samsung India’s mobile and IT head Vineet Taneja had quit in May this year to join its rival Micromax as CEO. An Economic Times report also cites two senior industry executives to suggest that Samsung India deputy managing director Ravinder Zutshi is retiring from the company later this month.
Samsung claims that it has emerged as a leader in the mobile phones business under Park’s leadership, however the company is struggling with declining sales amid intense competition from domestic players like Micromax and Karbonn and International players like Motorola, Xiaomi, OnePlus and others. It was also reported that Samsung bosses were not happy with the company’s performance in India, especially in the mid-range and high-end smartphone segment, despite being the leader in the market.
As per the latest IDC report, Samsung’s marketshare had dipped to 24% in Q3 2014 from 29% in the previous quarter, while Micromax’s market share had grown to 20% from 18% in the previous quarter. If you include feature phones to the mix, Samsung barely leads the market with 16% of the market share, followed by Micromax that has 14% market share.