SAMSUNG SETUP WORLD'S BIGGEST MOBILE FACTORY IN INDIA

The world's biggest mobile factory was launched in Noida near Delhi on Monday by Prime Minister Narendra Modi and South Korean President Moon Jae-in on Monday.

The new 35-acre Samsung Electronics facility at Sector 81 in Noida, is expected to manufacturers 10 million mobile phones per month, 70 percent will for domestic purpose.

In June last year, the South Korean giant announced a Rs 4,915 crore investment to expand the Noida plant and, after a year, the new facility is ready to double production.

The company is currently making 67 million smartphones in India and with the new plant being functional, it is expected to manufacture nearly 120 million mobile phones.

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.

Last year, the government imposed taxes on import of key smartphone components as part of a plan to make India a electronics-manufacturing hub to boost growth and create tens of millions of new jobs.

Samsung has two manufacturing plants -- in Noida and in Sriperumbudur, Tamil Nadu -- five R&D centres, and one design centre in Noida, employing over 70,000 people and expanding its network to over 1.5 lakh retail outlets. With the new plant will provide employment to 1000 more.

"With this the company can also bring in export opportunity for Samsung to SAARC and other regions,"

Established in 1995, Samsung India laid the foundation stone of Noida plant next year. In 1997, production commenced and the first television was rolled out. In 2003, refrigerator production began.

The company currently has over 10 per cent of its overall production in India and aims to take it to 50 per cent over the next three years.

Last year, India overtook the US to become the world's second-largest smartphone market after China. "For Samsung, India is among the top five smartphone markets globally. The US is saturated and Korea and Brazil are not growing significantly. India is a big opportunity across price segments, including 2G feature phones. It makes sense for Samsung to build a bigger manufacturing base here," Jaipal Singh, Senior Market Analyst, IDC, told IANS.

Samsung India, that registered 27 per cent growth in mobile business revenue for the financial year 2016-17 -- accounting for a whopping Rs 34,300 crore of its reported Rs 50,000 crore sales - won't be able to hide the smile when the new facility kicks off production from July 9

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