Samsung India loses key executive amid record sales

Putting all speculation to rest, Ranjivjit Singh, Chief Marketing Officer and Senior Vice President, Mobile Business at Samsung India on Tuesday said he has decided to move on after a fruitful innings.

In a tweet, Singh who spent almost six years at Samsung India, said it is time to opt for newer experiences.

"After almost 6 years as Sr. VP and CMO of Samsung India, having helped the company achieve many great milestones, it's time for newer experiences," Singh tweeted.

"With immense learnings and super memories of contributing towards building a $10Bn revenue company in India, am excited about the future," he added.

The move comes at a time when Samsung India generated overall revenue of ₹73,000 crore in the financial year 2019, of which the mobile business revenue hit an all-time high of ₹43,000 crore.

Singh, who last launched Samsung Galaxy Fold smartphone-cum-tablet with 12GB RAM and 512GB internal storage in India in October for ₹1,64,999, is likely to start a venture of his own, according to reliable industry sources.

Earlier, reacting to a media report that the company has laid off 150 people in India, Samsung India said in a statement that it "continuously realigns resources as per business priorities to make our business more robust and efficient for long term success".

"Samsung is committed to India and continues to invest significantly across its businesses. In the past one year, we have generated 2,000 new jobs at Samsung. Samsung India's business continues to grow and expand, hence we will hire more talent across businesses through the year," said the company.

As regards to business, the company said, "with new products across categories, we have been able to consolidate our market share further, and we are confident of another record year".