samsung opens world\\\'s largest phone factory in india - reuters

by:AIVI      2020-03-02
MUMBAI (Reuters)-
Samsung Electronics has officially opened a new factory in India. The South Korean technology group says the factory is the world\'s largest mobile phone manufacturer. The company plans to expand production in the world\'s fastest growing major mobile phone market.
At a factory in Noida, a suburb of New Delhi, analysts tracking the industry said they would allow Samsung to produce phones at a lower cost, because its size is becoming more and more expensive in other mobile phone manufacturing centers such as China.
The factory was completed Monday by Indian Prime Minister Modi and South Korean President Moon Jae-in.
It will also help Samsung compete more effectively with rivals such as China\'s Xiaomi. Earlier this year, Xiaomi became the biggest smartphone brand in India.
\"This 50 billion-
Rupee investment will not only strengthen Samsung\'s business ties in India, but will also play a key role in India
Modi said in Hindi at the factory inauguration.
Samsung said it would spend 49 last year.
RS 2 billion ($716. 57 million)
More than three years to expand the capacity of its Noida plant.
The company said in a statement that the new plant will help Samsung double Noida\'s current mobile phone capacity to 0. 12 billion units per year after the phased expansion plan is completed.
India is the world\'s second-largest smartphone market with more than one billion wireless subscribers. This is a huge opportunity for Samsung because the slow growth in smartphone revenue has raised concerns that its mobile business has not had enough ideas to support sales of its high-end Galaxy devices.
Samsung, which has been assembling phones in India since 2007, also plans to export to India-made handsets.
H. C. Hong, chief executive of Samsung India, said in a statement: \"We are \'Made in India\', \'made for India\', and now, we will \'make for the world \'.
Indian Prime Minister Narendra Modi\'s government, led by Narendra Modi, taxed imports of key parts of smartphones as part of a plan to encourage electronic manufacturing in India that will boost growth and
While Modi\'s flagship \"Made in India\" campaign is still a long way from fulfilling ambitious job commitments, the program has achieved some success in phased manufacturing of mobile devices and components
According to technology research firm Counterpoint, more than 120 local factories currently assemble accessories such as mobile phones and chargers, batteries, power banks and headsets in India.
\"This is obviously a good move for Samsung, but it also gives us a lot --
India\'s mobile manufacturing ecosystem needs to be shot because it will drive competitors to consider expanding local production, \"said Navkendar Singh, deputy research director at International Data. ($1 = 68.
RS 6600 India)
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