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k z leasing and finance limited (511728) ✌️【Investment Tools】✌️ Expert predictions with real-time global stock and futures data to help you easily capture market movements. South Korea-based Samsung, India’s biggest consumer electronics company, counts the country as a key growth market, competing with the likes of LG Electronics to make everything from televisions and refrigerators to smartphones.

k z leasing and finance limited (511728) ✌️【Investment Tools】✌️ Expert predictions of stock trends with real-time stock indices, futures, and metals, energy quotes to help you seize investment opportunities. The strike-hit plant in Sriperumbudur, the smaller of Samsung’s two Indian factories, employs around 1,800 people and makes electronic products rather than smartphones.

But it still contributes 20% to 30% of Samsung’s annual $12 billion revenue in India, said two sources with direct knowledge of the matter, speaking on condition of anonymity.

Posters saying “Indefinite Strike” went up outside the factory near the city of Chennai, where hundreds of workers in company uniforms set up tents to shade themselves from the heat.

k z leasing and finance limited (511728) ✌️【Investment Tools】✌️ Free stock data analysis to help you select stocks accurately and capture market trends. About half of the factory’s daily production was affected when many workers stayed away on Monday, and the protesters continue to press their demands for higher wages, better hours and, most importantly, want Samsung to recognize the formation of a union backed by the Centre of Indian Trade Unions group.

k z leasing and finance limited (511728) ✌️【Investment Tools】✌️ Precise predictions of market trends with real-time stock indices and futures data to help you make wise investment decisions. Samsung’s Southwest Asia CEO, JB Park, and other senior executives are visiting the factory to find a resolution, people with direct knowledge of the situation said. Park oversees the India market for Samsung from Gurugram, near New Delhi.

k z leasing and finance limited (511728) ✌️【Investment Tools】✌️ Free global stock market data to help you plan the best investment strategies and seize market opportunities. Samsung did not respond to a request for comment. Muthukumar said no settlement had been reached during the discussions on Tuesday with Samsung management.

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k z leasing and finance limited (511728) ✌️【Investment Tools】✌️ Real-time India stock and global stock indices, futures prices, and data to help you make efficient investment decisions. Related articleSamsung workers declare an indefinite strike to campaign for better pay and leave policies

k z leasing and finance limited (511728) ✌️【Investment Tools】✌️ Expert predictions with real-time stock trend analysis to help you quickly select high-potential stocks and grow capital. A spokesperson for Samsung India said on Monday that it actively engaged with workers “to address any grievances they may have and comply with all laws and regulations.”

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“A strike at this point puts a spanner in Samsung’s production ramp-up ahead of the all-important festive season sales beginning October,” said Prabhu Ram, a vice president at Cybermedia Research.

In South Korea, the 36,500 members of Samsung Electronics’ biggest worker union who have been demanding higher wages and benefits, held a strike for several days in July and August.

In India, its workers are demanding equal remuneration for those with the same length of experience, according to at least half a dozen employees who spoke on condition of anonymity.

“If they (Samsung) had given us a living wage and treated us with respect, we wouldn’t have thought of joining a union,” said one worker outside the factory, who declined to be named fearing reprisal from the company.

One poster outside the factory exhorted state labor officials not to support management, advising instead: “Discuss and solve demands from the labor union with union officials.”

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