World's largest mobile manufacturing factory to be inaugurated in India
NEW DELHI: Prime Minister Narendra Modi and visiting South Korea President Moon Jae-in will inaugurate a Samsung Electronics facility in Noida in Uttar Pradesh on Monday. the expanded factory is being billed as the world's largest mobile phone production unit in terms of number of devices rolled out every month.
The South Korea tech giant makes 67 million smartphones in India and with the new plant, it is expected to manufacture nearly 120 million.
Samsung is expectedly betting big as India is currently the second biggest mobile market and accounts for 10% global smartphones sales. From 299 million smartphone users in 2017, the projected increase in the number of users in India is likely to reach 340 million by the end of this year. By 2022, India’s smartphone users are expected to shoot up to a whopping 442 million.
Mobiles accounted for Rs 34,000 crore of Samsung's Rs 50,000 crore sales revenue in 2016-17.
Sources said Samsung had pumped in Rs 4,915 crore for expanding the unit, from where it plans not only cater India but also Europe, West Asia and Africa. "The unit has come up on an additional 35 acres adjacent to the current facility. It will double the production capacity of both mobile phones and refrigerators", a company official said.
At the Noida facility, company officials said, Samsung will assemble parts sourced from its other agencies.
Courtesy : The Times of India