Samsung heir in India to discuss mobile business

Mumbai: Samsung Electronics Vice Chairman Lee Jae-yong is currently in India, provoking speculation that the South Korean tech giant may make further investments to expand its presence in the country, industry sources said on Monday.

Lee is likely to meet Prime Minister Narendra Modi and Reliance Industries Chairman Mukesh Ambani this week, reports Yonhap news agency.

Lee arrived in India on Sunday and was briefed by Samsung Electronics officials here. It is believed to be Lee's first visit to India since March.

Samsung is one of the equipment suppliers for Reliance Jio's 4G network business. With the Indian telecom firm planning to establish a 5G network in the country, industry observers speculate that the two moguls may consult on the issue if there is a meeting.

"There's also a possibility that Lee could meet with Prime Minister Narendra Modi," a source said.

In July last year, Samsung India set up one of the world's largest mobile manufacturing facilities in Noida, Uttar Pradesh. PM Modi and South Korean President Moon Jae-in inaugurated the 35-acre Samsung Electronics facility.