Modi travels with South Korean President in Metro

10 July, 2018, 08:10 | Author: Lynette Payne
  • Noida now has the largest mobile factory in the world

Scheduled to be operational from July 9, it will be inaugurated by Indian Prime Minister Narendra Modi and South Korean president Moon Jae-in.

The factory, located in Sector 81 in Noida, now has a double production capacity of 120 million mobile devices a month.

Manufacturing on such a large scale will help Samsung to dramatically reduce costs, and the company says that the factory will be used to produce both entry level and flagship devices.

Not just mobiles, the expansion of the current facility will double Samsung's production capacity of consumer electronics like refrigerators and flat panel televisions, further consolidating the company's leadership in these segments. Over 30 per cent of the production at Samsung's Noida manufacturing facility will be exported. 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.

Indian economy, the fastest growing major one in the world, as well as a vast expanding neo-middle class offer unlimited opportunities, he said. "Altogether, over 400,000 people are working in those units and Samsung is spearheading this with a workforce of 70,000 people".

The foundation stone of the Noida plant was laid by Samsung in 1996.

"The new facility with give direct jobs to 1,000 people, taking the existing workforce at this plant to 6,000".

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Samsung is setting up shop in India in a big way.

The decision by Samsung comes at a critical time for the South Korean electronics giant, which is facing a tough battle from Chinese competitors for the control of India's massive smartphone market.

Samsung is opening up the world's largest smartphone factory in India.

Moon also said that "limitless possibilities" are present for the two countries if India's technological capabilities and human resources are combined with Korea's capital and industrial experience. "The completion of the factory was made possible by the cooperation of the Indian government and the government of Uttar Pradesh", he said.

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%).

Speaking on the occasion, the Prime Minister described the occasion as a special one, in the journey to make India a global manufacturing hub. A bigger manufacturing plant, spread over 129000 sq. metres, will help Samsung meet the growing demand.

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