Samsung opens world's largest smartphone factory in India

Samsung opens world's largest smartphone factory in India

Prime Minister Narendra Modi and South Korean President Moon Jae-in on Monday inaugurated the world's largest mobile factory in Noida, Uttar Pradesh. "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".

According to IDC in February this year, India saw a 14% annual growth in smartphone sales totalling 124 million units in 2017. NDTV delivers reliable information across all platforms: TV, Internet and Mobile. The company now makes all of its mobile phones at the Noida plant, including the flagship Galaxy S9 and S9+.

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. "But I think that has been left behind with South Korean investments worth $600 million coming in past year", Prakash said pointing at firms like carmaker Kia and Samsung announcing fresh investments in India in recognition of the Indian market and the buying power of the urban middle class.

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He said the plant and what it represents for the two countries will go down in the history of bilateral relations of India and Korea. More than 120 local factories now assemble mobile phones and accessories like chargers, batteries, powerbanks and earphones in India, according to tech research firm Counterpoint. Later in the evening at around 5 PM, he will visit the Samsung India Electronics unit at Block B, Sector 81, Noida. "Now, this manufacturing unit is also coming here", Modi was quoted as saying. "India and Korea have a long-standing history of exchange, you are a friend who helped us in time of need".

According to HC Hong, President and CEO, Samsung India, a bigger manufacturing plant will help them cater to the growing demand for Samsung products across the country. In 2003, refrigerator production began. The company also launched Make for the World' initiative, whereby it aims to export mobile handsets produced in India, to overseas markets. Today, Samsung is the market leader across mobile segments.

The company is aiming to increase the overall production capacity by 50 percent, which is now at 10 percent.

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