Workers' strike at Samsung India plant persists, causing shares to decline.

• On Friday, Samsung Electronics' shares dropped by more than 3% due to a strike at its southern Indian factory, which has been affecting the production of its consumer electronics unit for the fifth consecutive day.
• Since Monday, hundreds of workers have been on strike, demanding Samsung to recognize their union, increase wages, and decrease working hours.
• It is one of the biggest such strikes in recent years in India.

On Friday, shares of fell by up to 3% due to a strike at its southern Indian plant, which has been ongoing for the fifth day and is disrupting production at the consumer electronics unit.

On Thursday, an agreement could not be reached between the worker union's representatives, Samsung's management, and the state's labor officials regarding pay and working conditions, among other things.

Since Monday, hundreds of workers have been on strike, demanding recognition of their union, higher wages, and shorter working hours from the electronics conglomerate. This is one of the largest strikes in recent years in India, according to Reuters.

In Chennai, southern India, there is a plant that produces electronic devices such as televisions, refrigerators, and washing machines.

Reuters reported that one of Samsung's two factories in India contributes up to 30% of the group's $12 billion annual revenue in the country.

According to Statista, the major appliances sector in India is projected to generate $38.2 billion in revenue by 2024, making Samsung Electronics one of the leading players in the smartphone and electronic appliances market.

Union leader E. Muthukumar informed Reuters that the workers will persist in striking until their demands for improved wages and working conditions are fulfilled, as Samsung management refused to acknowledge the union and engage in negotiations.

On Tuesday, Business Standards reported that approximately 85% of the 1,700 workers at the plant participated in the strike.

Earlier this week, a Samsung spokesperson stated that the company actively engages with its workers to address any grievances they may have and complies with all laws and regulations. Additionally, the company ensures that there is no disruption to its consumers.

In response to recent wage protests in South Korea, Samsung India has experienced a strike by its workers.

The stock price of Samsung Electronics in South Korea's stock market has decreased by more than 6% during this week, according to LSEG data.