Samsung launches world’s largest mobile phone factory in India

Samsung launches world’s largest mobile phone factory in India

Samsung launches world’s largest mobile phone factory in India

South Korean President Moon Jae-in's trip to India will help create the next largest market for his country, Seoul's trade minister said on Monday (July 9), calling India the next China for South Korea, Yonhap news agency reported.

Samsung has Invested close to 5,000 Crore Rupees in this plant and aims to Manufacture 12 Crore Mobile Handsets annually which will result is massive job creation. "This Rs 50 bn deal will not only make Samsung's business relations with India strong but also strengthen India's ties with South Korea".

Prime Minister Modi speaking at the inaugural ceremony said that the new unit of Samsung will be a matter of pride for not just India but Uttar Pradesh and Noida.

Today Samsung is opening what it describes as the world's biggest mobile phone manufacturing facility. India's government, naturally, is excitedly embracing the announcement as art of its "Make in India" initiative.

Samsung has announced that it will be expanding one of its mobile phone factories in India, at the same time launching its "Make for the World" project to export Indian-made smartphones to foreign markets.

"We invite trusted global brands like Samsung to be a part of the new Indian business culture", Modi said.

The 35 acre-mobile factory located on the outskirts of New Delhi is said to be the world's largest.

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Stating that Korean products can be found in nearly all middle-class homes, he said Samsung is a world leader in the smartphone market.

Modi said Samsung acquired an important position in the daily lives of the people of India. "India today is the second bigger manufacturer of mobile phones".

In the smartphone segment, Xiaomi maintained its lead in the first quarter with a record 31% market share followed by Samsung (26%), vivo (6%), OPPO (6%), and Honor (3%).

Modi was seen explaining finer points during the ride as eager commuters on stations waived and clicked pictures of the two leaders from their mobile phones.

"They travelled using tokens with others passengers and there was no delay in the Blue Line due to this", the official said.

Moon, who was on his first visit to India since being elected president past year, sought an expansion of trade and economic ties with India.

Prime Minister Narendra Modi's government has imposed taxes on imports of key smartphone components as part of a plan to encourage electronics manufacturing in India which would boost growth and create millions of new jobs.

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