Categories: BusinessHeadlines

Samsung opens world’s largest phone factory in India

Reuters – South Korean President, Moon Jae-in and Indian Prime Minister, Narendra Modi, jointly inaugurated the world’s largest mobile factory, in India’s northern Noida city on Monday (July 09).

The facility in Noida, on the outskirts of New Delhi, will allow Samsung to make phones at a lower cost due to its scale when other phone making hubs such as China are getting more expensive, analysts who track the sector said. The South Korea based electronics giant, Samsung, currently has over ten percent of its overall production in India and with the inauguration of this facility; it will go up to 50 percent in the next three years.

Samsung, which has been assembling phones in India since 2007, also plans to export India-made handsets, the company said in a statement. Prime Minister Narendra Modi’s government has imposed taxes on import of key smartphone components as part of a plan to make India a hub for electronics manufacturing to boost growth as well create tens of millions of new jobs.

While Modi’s ‘Make in India’ campaign is still a long way from delivering on ambitious job promises, the program has had some success with the phased manufacturing of mobile devices and components.

Samsung had announced an investment of $713.412 million to expand its Noida plant, in June 2017. It currently makes 67 million smartphones in India and with the new plant, it will be manufacturing nearly 120 million smartphones in a year. It will also nearly double the production of consumer electronics like refrigerators and televisions.

Lankanewspapers

Recent Posts

LNP – CSE dips again amid ongoing global trade tensions

The Colombo Stock Exchange (CSE) extended its losses as uncertainty over global tariff negotiations continued…

4 hours ago

LNP – Excise earns record revenue of Rs.61Bn in 2025 first quarter

One of the three main revenue-generating arms of the country and the competent authority regulating…

4 hours ago

LNP – Cut our tax to 6% or drop tariffs to counter US move: Kalugamage

The best and only solution to the new tax rate imposed by the US is…

4 hours ago

LNP – China to impose 34% retaliatory tariff on all goods imported from US

China on Friday announced a slew of additional tariffs and restrictions against U.S. goods as…

23 hours ago

LNP – Passenger arrested with mobile phones worth over Rs. 100 mln at BIA

A 32-year-old individual from Kattankudy in Batticaloa was arrested this morning (04) by the officers…

24 hours ago

LNP – Apparel sector in jeopardy as US slaps new reciprocal tariff

Sri Lanka’s apparel sector, the country’s largest export industry, is bracing for a major setback…

1 day ago