Saturday, 17 November, 2018

Samsung to open world’s largest mobile phone manufacturing centre in India today

Narendra Modi Samsung to open world’s largest mobile phone manufacturing centre in India today
Pete Mitchell | 10 July, 2018, 08:11

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.

The 35-acre Samsung Electronics facility in Noida sector 81 was added in 2005, and in June past year, the South Korean giant had announced Rs 4,915 crore investment to expand the Noida plant to double the production.

Modi and South Korean President Moon Jae-in inaugurated the giant assembling plant - an expansion of an existing Samsung facility - in the city of Noida on the outskirts of New Delhi.

Last year, Samsung announced budget of Rs 4915 crore to expand the phone manufacturing factory, and now, the plant is ready to manufacture nearly every model of Samsung.

In 1997, the plant started manufacturing televisions, and in 2003, expanded to manufacturing refrigerators. Out of 120 mobile factories, 50 are in Noida only. We "Make in India", "Make for India" and now, we will "Make for the World".

Samsung has also faced growing concerns about the health of its mobile business, as the unit continues to see less-than-stellar profit growth.

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Announcing the investment past year, the South Korean giant said that it would position the Noida plant as a major production hub and create about 5,000 new jobs. 35,000 new jobs would be generated due to this new factory. Samsung is a long-term partner of India.

"Today is an important day in making India a global hub of manufacturing", he said, adding that the investments in such factories are a cornerstone of India's economic and commercial engagements with countries like South Korea. In just about an year of the announcement, Samsung's Noida plant is all-ready to double production. "We "Make in India", "Make for India", and now we will "Make for the World", Samsung India CEO HC Hong said.

"This will help Samsung bring some local features to the devices powered by R&D here".

Samsung hopes the smartphones it makes in India will be sold locally and in other markets around the world. "The completion of the factory was made possible by the cooperation of the Indian government and the government of Uttar Pradesh", he said.

The Indian mobile phone market grew by 48% YoY in the first quarter of 2018, driven by strong demand from the featurephone segment.

The two leaders travelled on the Delhi Metro to reach the inauguration ceremony, which was also attended by Uttar Pradesh chief minister Yogi Adityanath and senior Samsung officials. India's government, naturally, is excitedly embracing the announcement as art of its "Make in India" initiative.

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