Samsung goes big in India with 'world's largest mobile factory'

Samsung Sets up Worlds Largest Mobile Factory in Noida PC IANSSamsung Sets up Worlds Largest Mobile Factory in Noida PC IANS

Prime Minister Narendra Modi and South Korean President, Moon Jae-in, jointly inaugurated Samsung's 35-acre plant in Noida today.

The factory, located in Sector 81 in Noida, now has a double production capacity of 120 million mobile devices a month.

"We are aligned with government policies and will continue to seek their support to achieve our dream of making India a global export hub for mobile phones", H C Hong, Chief Executive Officer, Samsung India, said.

Samsung has set-up this factory to tap into the lucrative and fast growing smartphone market in India. The plant in Noida was set up in 1996 where the company manufactured consumer products, including smartphones, refrigerators and television sets.

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

It now has a total of six factoriesthat it says can produce two smartphones every second. Prime Minister Modi is credited with starting the "Made in India" initiative, which is attracting overseas investors including Xiaomi and fellow smartphone-maker Oppo.

Moon arrived in New Delhi on Sunday on a four-day visit to India.

New factory will double current capacity for mobile phones to an annual 120m units.

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The facility is expected to help Samsung build more cheap phones to make gains in India, a market dominated by the likes of Xiaomi and Lenovo's Motorola unit.

A year ago in June, the consumer electronics major had announced that it would invest Rs 4,915 crore to double its manufacturing capacity for smartphones and refrigerators at its Noida plant.

The prime minister said India has 40 crore smartphones in use and 32 crore people using the broadband internet.

"I am committed to raise relations with India to the level of those with our four major powers around the Korean peninsula", Moon said, adding that this commitment was embodied in his new southern policy outlined past year.

Samsung is expected to create 15,000 jobs through the new manufacturing unit. The company has one design centre in Noida with workforce of over 70,000 people.

While Modi's "Make in India" campaign is still a long way from delivering on ambitious job promises, the program has had some success with the phased manufacturing of mobile devices and components. We "Make in India", "Make for India" and now, we will "Make for the World".

India overtook the United States a year ago to become the world's second-largest smartphone market after China.

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