World's largest mobile manufacturing factory to be inaugurated in India
09 Julio, 2018, 15:42 | Author: Misty Newman
South Korean President Moon Jae-in will also grace the event alongside the Prime Minister.
By 2022, India's smartphone users are expected to shoot up to a whopping 442 million. The new facility is spread across an area of over 140,000 square meters.
Samsung is set to inaugurate its biggest mobile factory in the world today.
In June previous year, Samsung had announced Rs 4,915 crore investment for the Noida plant.
"This is a significant departure from Korea's traditional foreign policy", the article noted, adding that, "It is partly a hedging strategy amid the US-China tug-of-war in the region, and partly a forward-looking move to address how Korea and India can together meet the demands of a dynamic future". The company started producing refrigerators at the plant in 2003 while mobile phone production started in 2007.
Chinese smartphone maker Xiaomi said in April it will set up three more factories in India.
Samsung is one of the top feature phone manufacturers in India with 20.5 per cent of market share at the end of 2017, according to IDC.
"The president and government officials started making gestures to meet the business community since late previous year", an industry official said.
Last year, India overtook the U.S.to become the world's second-largest smartphone market after China. The Delhi-Noida-Direct (DND) flyover will be blocked from 4 pm to 5.30 pm on account of the same.
Samsung has two manufacturing plants in India. Samsung's Noida plant also has a Research and Development Centre, and there's is a design centre as well.
Samsung overall has five R&D centres in India. After smartphones, they can go into building top-of-the-line products in other categories like TVs, refrigerators as advance manufacturing in India still lags behind.
The company now has over 10 per cent of its overall production in India and aims to take it to 50 per cent over the next three years.
Although officials at Cheong Wa Dae strongly denied any change in the government's stance towards the business community and cautioned against an exaggeration of the Moon - Lee meeting, industry officials say the president's visit to the new Samsung plant in India would help improve the relations.
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