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India has changed digitally at a fast pace with the use of smartphones, and businesses will expand in the country in the coming years, a senior Samsung official said here.
Samsung SouthWest Asia President and CEO JB Park said Digital India kind of projects were adopted in Korea in the past that brought growth and development in the country.
India has a vast population under an average of 30 years, which will push for growth in demand and business, he added.
"You have to think about the expanding population in India, and the proportion of people who are young, say below 30 years. You have to look at the penetration of each category, such as smartphones and refrigerators. If you look at India, in the next 20 years, the demand will not be soft, and businesses will expand," Park, who oversees India business, said.
Samsung, at present, leads the India market in several technology verticals.
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Samsung led the Indian smartphone market with a 20 per cent share in the January-March 2023 quarter and also remained the leading brand for 5G shipments, accounting for a 24 per cent share, according to a report.
Market analysis firm Techarc said Samsung has become the de facto choice of consumers wanting to buy Android beyond Rs 1 lakh in India.
Park said that he is amazed to see the rapid digital growth in India and the fast flow of information among generations using the internet.
"I set foot in India for the first time some 13 years ago and since then, I have seen so many changes. I am amazed at how fast India has changed digitally through smartphones," he said.
Park said that Korea has built everything from scratch after the Korean War in the early 1950s.
The common thing that is pushing development in India and Korea is "desperation" among parents to educate their children, he noted.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
