Samsung India pays the price of costlier chips with a round of layoffs

Kolkata: Samsung India Electronics has begun cutting jobs in batches as sales and margins have come under pressure in its mainstay smartphone business, after memory chip prices more than doubled, multiple industry executives told ET on the condition of anonymity. So far, 80-100 executives in the television sets and home appliance businesses have been asked to go, they said.

The layoffs include director-level officials and team leads at the headquarters, along with branch and area managers at operating branches, said the people.