Published : Oct. 18, 2016 - 10:32
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THE INVESTOR]
Samsung Electronics is doubling its smartphone production in India with fresh investment worth 19.7 billion rupees (US$300 million).
The Korean tech giant on Oct. 17 signed a memorandum of understanding with the state government of Uttar Pradesh, the most populated state in northern India.
Samsung will set up a new manufacturing plant in Noida, its production base in India, and also hopes to join the state government’s free smartphone scheme for underprivileged people that is expected to be approved by the UP Assembly next year.
Samsung Electronics Vice Chairman Lee Jae-yong (left) and Indian Prime Minister Narendra Modi talk at the prime minister’s residence in New Delhi on Sept. 15.
Samsung has produced key products, including smartphones, refrigerators and TVs, at its Noida plant. With the planned expansion, smartphone production is expected to double from the current 60 million units to 120 million units.
Other production facilities for home appliances and TVs also will be expanded.
About 4,500 employees are working at Samsung’s three research labs and two manufacturing plants across India.
The new investment plan comes after Samsung Electronics Vice Chairman
Lee Jae-yong met Indian Prime Minister Narendra Modi in New Delhi last month.
According to market research firm GfK, Samsung is the largest smartphone vendor in India with a 38.2 percent market share in the second quarter this year.
By Lee Ji-yoon (
jylee@heraldcorp.com)