SEOUL, Oct. 7 (Yonhap) -- Samsung Electronics Vice Chairman Lee Jae-yong is visiting India to check the world's largest smartphone maker's businesses there, industry sources said Monday, raising speculations that the South Korean tech giant may make further investment to expand its presence in the world's second-largest smartphone market.
Lee arrived in India on Sunday and was briefed by Samsung Electronics officials in Mumbai over the company's mobile business there, according to the sources. It is believed to be Lee's first visit to India since March.
Industry sources speculated that Lee could hold a meeting with Mukesh Ambani, the chief of India's leading conglomerate Reliance Industries, during his India visit.
Samsung was one of the equipment suppliers for Reliance Jio's 4G network businesses. With the Indian telecom firm planning to establish a fifth-generation (5G) network in the nation, industry observers speculate that the two moguls may consult over the issue if there's a meeting.
"There's also a possibility that Lee could meet with India's Prime Minister Narendra Modi," a source said. "Lee's recent visit shows Samsung has a big interest in the Indian market."
Lee is the only son of hospitalized Samsung Group chief Lee Kun-hee.
Wealth management service increasingly popular in S. Korea
BOK tipped to continue monetary easing, at least another rate cut in offing
Policy support to add further recovery momentum in 2020
Hyundai tipped to shine on SUVs while smaller rivals face bumpy road in 2020
Seoul-Tokyo trade row averts worst case