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"But they have to take a step back ... and look at the facts."

"But this 'two-speed' pattern will likely to continue, with both premiumization and flight to value," he said.

"China continued to invest in Brazil ... despite tough times (for) the Brazilian economy. Through the TCP, we are expecting stepped-up exchange, stepped-up shipments and stepped-up importing from China," he said.

"Buyers are basically paying for a power battery, as the battery in an electric car is so expensive that it makes up about half of the production cost," he said in an earlier interview.

"China is the world's largest smartphone market. Samsung's limited presence in China has considerably harmed its business," Xiang said, adding that Samsung's business in India is also heavily affected due to city lockdowns.