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

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

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.

Prime Minister Narendra Modi on Monday will visit Noida in Uttar Pradesh, to inaugurate a new unit of Samsung plant.

Established in 1995, Samsung India laid the foundation stone of Noida plant next year.

'It's a move that'll obviously play well for Samsung but it also gives a much-needed shot in the arm to India's mobile manufacturing ecosystem as it will push rivals to consider expanding local production, ' said Navkendar Singh, an associate research director at International Data Corporation. The new facility is spread across an area of over 140,000 square meters.

The PM added the number of manufacturing factories in mobiles had gone up to 120 from just two since 2014.

The Prime Minister asserted that through this new mobile manufacturing facility, the combination of Korean technology, and Indian manufacturing and software support would provide excellent products for the world.

The new facility, which has been dubbed the "world's largest mobile factory", is located in Sector 81, Noida, Uttar Pradesh.

"I have hopes to raise Korea-India relations to that with the four major powers surrounding Korea to match India's global standing", Moon said. India has around 40 crore smartphone users and almost 32 crore people use broadband.

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India, the report said, was emerging as a key economic partner for Korea, with its huge market whose importance would only increase as South Korea tried to reduce its reliance in its two biggest trading partners, China and the US.

Modi said Samsung acquired an important position in the daily lives of the people of India.

President Moon Jae-in said the new facility will create a new era for India-Korea ties.

The South Korean President along with Prime Minister Modi will visit the Gandhi Smriti on Monday.

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

Mr Kim also noted India will continue to grow in its sheer size with its population expected to reach over 1.5 billion in 2030, becoming the world's single largest market.

India, on the other hand, may hold the greatest potential for South Korea and have the least risk.

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