India, the world's second biggest smartphone market and home to more than a billion wireless subscribers, is a big opportunity for Samsung where sluggish smartphone earnings growth has fuelled concerns that its mobile business is running out of ideas to underpin sales of its premium Galaxy devices.
Expansion, which will be fully complete in 2020, is expected to almost double Noida (New Okhla Industrial Development Authority), India's current phone producing capabilities from 68- to 120 million phones per year.
South Korean President Moon Jae-in's trip to India will help create the next largest market for his country, Seoul's trade minister said on Monday (July 9), calling India the next China for South Korea, Yonhap news agency reported.
In India, Samsung is the number two smartphone maker, under Chinese manufacturer Xiaomi. The company is hoping to tap into the lower manufacturing costs there as it pushes its presence in the fastest-growing mobile phone market, according to Reuters.
Mobile manufacturing was added in 2005.
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Samsung Electronics has opened what it is calling the world's largest mobile phone manufacturing facility.
Underlining that the new facility will boost the Centre's Make in India initiative, he said, "The development of this factory will help in speeding the Make of India which is not just part of our economic policy but also a promise of good relations with countries like South Korea".
India now counts about 400 million smartphone users out of its population of 1.3 billion people, meaning there's still a vast amount of potential consumers to draw from, the Verge noted.
Samsung is without a doubt the biggest name in the Android world, and so if you are considering purchasing a new phone, logic dictates you may be looking to pick up a phone made by the ...
Samsung said last year it will spend 49.2 billion rupees ($716.57 million) over three years to expand capacity at its Noida plant.
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Samsung has two manufacturing plants in India, located in Noida and in Sriperumbudur, Tamil Nadu. He added the Samsung unit will export its products globally. 35,000 new jobs would be generated due to this new factory.
Samsung is expected to create 15,000 jobs through the new manufacturing unit.
"Unlike some other countries in the world which like Korean money but not Koreans, we like Koreans more than Korean money", Prabhu said in an apparent reference to uneasy relations between South Korea and some of its immediate neighbours.
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