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Media Report: Samsung invests KW 340 Billion in India to double smartphone manufacturing capacity (DongA Ilbo)

Samsung Electronics today announced expansion of its Noida plant with an investment of INR 1,970 crore (KW 340 billion), doubling its smartphone manufacturing capacity.  

With it plant expansion, Samsung aims to meet the growing demands in Southwest Asia region. The announcement came in one month after Samsung Electronics’ vice chairman Lee Jae-yong visited India to meet Indian Prime Minister Narendra Modi.

 Samsung Electronics India announced on October 17 that it signed a memorandum with a local authority to expand the smartphone plant in Noida, Uttar Pradesh. The Noida plant, founded in 1996, is Samsung's first plant in India and has engaged in the production of a variety of mobile phones, refrigerators, and TVs. This expansion would double the plant’s annual smartphone production capacity from the current 60 million units to 120 million units. Mainly smartphone Series J and Series Z have been manufactured at the Noida plant. With this expansion, the Noida plant would be able to increase not only the production of smartphones but other home electronics and TVs.  

Lee Jae-yong, vice chairman of Samsung Electronics met Narendra Modi, Prime Minister of India on September 16. In the meeting, Lee stressed that Samsung will strive to become a local firm rather than a foreign-invested firm in India, while making efforts to become a true partner that shares the future of India.

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