Samsung opens the world’s largest mobile phone factory in Noida near Delhi on Monday. It will inaugurate jointly by India’s Prime Minister Narendra Modi and South Korea’s President Moon Jae- in. The new Samsung factory will have the capacity to fabricate 120 million smart phones per year – ranging from low – end smart phones that cost under $100 to the company’s flagship Samsung Galaxy S9 model. The South Korean tech giant makes 67 million smart phones in India and with the new plant; it is expected to manufacture nearly 120 million.
Sources said Samsung had gushed in Rs 4,915 crore for expanding the unit, from where it plans to not only cater to the Indian market but also export phones to Europe, West Asia and Africa. The new unit has come up on an additional 35 acres adjacent to the current facility. It will increase the production capacity of both mobile phones and refrigerators, a company official said. It would be the great step to moving forward for economic growth. Samsung wants to make India a manufacturing hub and competing with the rivals such as Apple Inc., Oppo, Xiaomi and so on.
Prime Minister Narendra Modi said that it will provide 1000 more employment to our country and Samsung has provided employment to approximately 70,000 people. This step today would lend pace to Make in India, apart from empowering citizens. This is matter of pride for Uttar Pradesh and India who has been pushing foreign firms to set up plants in the country.This massive opportunity boosts our growth and creates millions of new jobs. PM Modi and South Korean president traveled to Noida by the Delhi Metro for Samsung factory launch. Setting up of factory in Noida will allow Samsung to manufacture phones at low cost.
Last year, India leaves behind the US to become the world’s second-largest smart phone market after China. There will be 780 million connected smart phones in 2021, compared with 359 million in 2016, according to a study by Cisco Systems.