Mumbai, July 2: Earlier in the day, there was news that Samsung is planning to remove 1,000 employees from their India office due to stiff competition faced by Chinese rivals and online-focused brands. Here comes the latest development, the company has refuted the news and has released an official statement, a copy of which is with LatestLY. Samsung India May Lay off 1,000 People, Faces Stiff Competition by Chinese Rivals & Online Brands.

Samsung India spokesperson has been quoted saying, "Today's article about Samsung in a section of the media is misleading. Samsung is committed to India and continues to invest significantly across its businesses. We have demonstrated our commitment by building the World's Largest Mobile Factory in Noida, investing in local R&D and we are exploring new businesses such as 5G Network, among others. In the past year, we have generated 2,000 new jobs at Samsung. "

The statement further highlighted, "Samsung India’s business continues to grow and expand, hence we will hire more talent across businesses throughout the year. As we contribute to job creation, we continuously realign resources as per business priorities to make our business more robust and efficient for long term success. As regards to business, with new products across categories, we have been able to consolidate our market share further, and we are confident of another record year."

(The above story first appeared on LatestLY on Jul 02, 2019 03:37 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).