Samsung opens world's largest smartphone factory in India to boost production

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

Samsung Electronics Co., the South Korean maker of Galaxy phones, said it is opening the world's largest mobile phone manufacturing facility on the outskirts of the Indian capital, as smartphone demand surges.

Uttar Pradesh Chief Minister Adityanath said India and South Korea have a strong trade and cultural relationship and invited new ventures to invest in the state. It will be officially inaugrated today by India's Prime Minister Narendra Modi and South Korean President Moon.

"India is witnessing dynamic development", Moon said, adding that his country would contribute actively to the "Make in India" policy aimed at boosting Indian manufacturing. He claimed that the factory will provide 35,000 jobs directly and indirectly, and the state government will ensure that the unit got the proper infrastructure it needed. "It makes sense for Samsung to build a bigger manufacturing base here", Jaipal Singh, Senior Market Analyst, IDC, told IANS.

It is also a shot in the arm for Modi's flagship "Make in India" campaign which is trying to attract foreign investment and drum up much-needed jobs in manufacturing. 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.

Samsung is expecting to report 14.8 trillion won in operating profit for the second quarter of the current financial year, up 5.2 percent from the 14.67 trillion won reported a year ago.

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"Whenever I talk to business community representatives I always mention one thing - that I don't think there is a middle class home in India where a Korean product is not found", he added.

Until six months ago, Samsung was the top smartphone seller in India but it was overtaken by Xiaomi - the Chinese rival that just went public in Hong Kong - at the end of 2017. The factory is located in Noida's sector-81. They will also visit a Samsung plant in Noida. Samsung also informed that the factory has been made under PM Modi's ambitious plan, Make in India.

In the smartphone segment, Xiaomi maintained its lead in the first quarter with a record 31% market share followed by Samsung (26%), vivo (6%), OPPO (6%), and Honor (3%).

The prime minister's office (PMO) tweeted a picture of the two leaders travelling on the Delhi Metro.

There are 1.3 billion people in India, but its estimated that only 425 million people own smartphones.

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