Samsung’s biggest factory will be inaugurated in India today
Jul 10, 2018, 03:56
In front are open fields with grazing cattle, to the left are under-construction residential societies and to the right is its existing facilty - this where Samsung has set up what is the world's largest mobile factory.
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.
According to International Data Corp, India's smartphone market grew 14 percent past year to 124 million units, the fastest rate of growth among the top 20 markets.
The mobile phone plant can produce almost 12 crore mobile phones every year, and will create 15,000 job opportunities.
In 2012, Samsung became the leader in mobile phones in the country and the Noida facility rolled out the first-ever "Galaxy S3" device.
"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", Hong said.
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'sMotorola unit.
Underlining that the new facility will boost the Centre's Make in India initiative, he said, "The development of this factory will help in speeding the Make of India which is not just part of our economic policy but also a promise of good relations with countries like South Korea".
India is a country with a population of 1.3 billion people, and yet there are only 425 million smartphone users. 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.
Last June, Samsung announced an investment of ₹4,915 crore to add new capacity at the Noida plant. He said the project was an important project in the path to make India a manufacturing hub.
Prime Minister Narendra Modi and South Korean President Moon Jae-in, who led the inauguration, took the Delhi Metro for a part of their journey to the venue in Noida.
The more than 500 Korean companies operating in India were mostly concentrating in the automobiles, electronics and textiles "but going forward, we will expand cooperation to various areas, including shipbuilding, medical devices and food processing", Moon said. "India and Korea have complementary strengths and both the countries will be helpful to each other in every way".
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