Samsung Electronics Co., the South Korean maker of Galaxy phones, said it is opening the world's largest mobile phone manufacturing facility on the outskirts of the Indian capital, as smartphone demand surges. The new facility is spread across an area of over 140,000 square meters.
The company is now making 67 million smartphones in India and with the new plant being functional, it is expected to manufacture almost 120 million mobile phones.
Later in the evening at around 5 PM, he will visit the Samsung India Electronics unit at Block B, Sector 81, Noida. The plant started with the manufacture of televisions way back in 1997, and mobile phone manufacturing unit was added in 2005.
Samsung witnessed 27 per cent growth in revenues from India in the financial year 2016-17 and if the progress continues, it might also start producing flagship products in television and refrigerator category.
Samsung has two manufacturing plants - in Noida and in Sriperumbudur, Tamil Nadu - five R&D centres, and one design centre in Noida, employing over 70,000 people and expanding its network to over 1.5 lakh retail outlets. In 2003, refrigerator production began.
The logo of Samsung is seen on a building during the Mobile World Congress in Barcelona, Spain February 25, 2018. Making of smartphones was commenced in 2007 at the existing Noida facility. The plant spans 35 acres (141 thousand sq.m.) and aims to increase overall production of devices in India by 50%. India is a big opportunity across price segments, including 2G feature phones. "But I think that has been left behind with South Korean investments worth $600 million coming in past year", Prakash said pointing at firms like carmaker Kia and Samsung announcing fresh investments in India in recognition of the Indian market and the buying power of the urban middle class.
Since taking power in 2014, Modi has pushed his "Make in India" initiative, which encourages companies to set up plants in the country, as the nation attempts to bolster domestic manufacturing.