Samsung today announced plans to make Rs 4,915 crore investment in India to enhance its manufacturing capacity at its Noida plant.
Samsung Electronics manufactures smartphones, refrigerators and flat panel televisions at its Noida manufacturing plant.
The expansion of the plant on an additional 35 acres of land adjacent to the current facility will double the production capacity of both mobile phones and refrigerators, further consolidating its leadership in the mobile phones and consumer electronics segments.
The expansion of the manufacturing plant will act as a catalyst for the development of a robust electronics manufacturing ecosystem and is expected to generate thousands of new jobs, both direct and indirect, across the country.
“This new investment of INR 4,915 crore is a testament to our continuing commitment to Make in India and to Uttar Pradesh, which has been our partner right from the day Samsung’s journey in India began,” said HC Hong, president and CEO, Samsung Southwest Asia.
Samsung has two factories — in Noida and Sriperumbudur, Tamil Nadu, five R&D centers and one design centre in Noida, employing over 70,000 people and expanding its network to over 1.5 lakh retail outlets. Samsung has a network of over 3,000 service points, the largest by any company in the country.
Information and Technology Minister Ravi Shankar Prasad said when the BJP came to power, the earlier government had invested Rs 11,000 crore towards electronics industry.
“Now, the investment stands at Rs 1.53 lakh crore with 40 mobile manufacturers and 33 mobile component manufacturers investing in the country in the last three years,” Prasad told reporters.
HC Hong, president and CEO of Samsung Southwest Asia, said: “Every product, including the recently launched Galaxy S8 and S8+ smartphones, being sold in the country are Made in India.”
The South Korean giant will manufacture 12 crore mobile phones this year. Samsung currently has 10 percent of its overall production in India and aims to take it to 50 percent over the next three years.
The Samsung investment came after its arch rival Apple recently announced the commencement of initial production of its popular iPhone SE model at its Bengaluru facility. Apple has begun assembling iPhone SE models with Wistron Corporation, its Taiwanese manufacturing partner.