Samsung now owns the world’s largest mobile phone factory
10 July, 2018, 11:53 | Author: Leah Owens
Mobile manufacturing was added in 2005.
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Built on 32 acres of land next to Samsung's (SSNLF) original factory in India, the plant will allow the South Korean firm to almost double the number of smartphones it makes in India every year from 68 million to 120 million by 2020. "We make in India, make for India, and now we will make for the world", said H C Hong, CEO of Samsung India.
Speaking on the occasion, the South Korean President said the new Samsung unit will provide jobs to local people. Xiaomi is now India's largest smartphone brand in terms of shipments, and the new facility will give Samsung the chance to better compete with its Chinese rival. The investment of Rs 5,000 crore by Samsung will strengthen India-South Korea relations,"PM Modi said". IDC researchers pointed out that this means India has the fastest growing smartphone market among the top 20 smartphone markets globally.
The new factory will help Samsung to double its current capacity for mobile phones in Noida to an annual 120 million units after the phased expansion plan is complete, the company said in a statement.
Samsung, he said, had an R&D hub in India and now has a manufacturing base too.
Earlier Modi and Korean President Moon Jae-in took a ride in the Delhi Metro train.
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The country, he said, is marching towards a digital revolution with the availability of cheap internet data and fibre optic network reaching more than one lakh village panchayats. "This is a great milestone in the history of Samsung India which will take our country's manufacturing abilities to newer heights", Asim Warsi, Global Vice President, Samsung India, told IANS on the sidelines of the event.
According to analysts, it is a win-win situation for both Samsung and India.
The unit is expected to have a capacity to produce 120 million phones a year. During the same time-frame, Xiaomi's share increased to 31.1 per cent from 13.1 per cent.
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.
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