Samsung India puts Noida on top with world's largest mobile factory

10 July, 2018, 08:11 | Author: Elena Summers
  • Noida now has the largest mobile factory in the world

The investment of Rs 5,000 crore by Samsung will strengthen India-South Korea relations,"PM Modi said".

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

The facility will also double Samsung's capacity in India from 68 million units per year to 120 million units annually. The factory will provide jobs to more than 2,000 people. "It makes sense for Samsung to build a bigger manufacturing base here", Jaipal Singh, Senior Market Analyst, IDC, told IANS. "Altogether, over 400,000 people are working in those units and Samsung is spearheading this with a workforce of 70,000 people", Modi said. In a statement issued then, Samsung said: "The expansion of the plant on an additional 35 acres of land adjacent to the current facility will double the production capacity of both mobile phones and refrigerators".

Samsung has also faced growing concerns about the health of its mobile business, as the unit continues to see less-than-stellar profit growth. Located in Noida, India, on the outskirts of New Delhi, the factory will almost double Samsung's Noida unit capacity from around 68 million units a year to 120 million annually according to a report from Bloomberg. Prime Minister Modi is credited with starting the "Made in India" initiative, which is attracting overseas investors including Xiaomi and fellow smartphone-maker Oppo. Samsung has a distinct space in India. The factory is located in Noida's sector-81.

The South Korean president noted India's plans to make smart cities and industrial corridors in the country and said his country wanted to participate in these projects given its experience in building such cities back home.

Samsung is expected to unveil the Galaxy Note 9 in Brooklyn, New York, on August 9 and is teaming up with ARM to work on a mobile chipset that will run at speeds above 3GHz.

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

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

"They travelled using tokens with others passengers and there was no delay in the Blue Line due to this", the official said.

In a press briefing last week, Moon's top economic aide Kim Hyun-chul further commented that Moon hopes to take Korea-India relations to a new level.

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.

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