IT

Samsung puts Noida on top with world's biggest mobile factory

Samsung puts Noida on top with world's biggest mobile factory

Moon Jae-in, President of South Korea, has taken a trip to India to open the world's largest smartphone factory with Indian Prime Minister Narendra Modi.

"We are aligned with Government policies and will continue to seek their support to achieve our dream of making India a global export hub for 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%). Later in the evening at around 5 PM, he will visit the Samsung India Electronics unit at Block B, Sector 81, Noida.

Xiaomi is also building up its presence in India, where its cheaper devices have appealed to price-conscious consumers.

In 2012, Samsung became the leader in mobile phones in the country and the Noida facility rolled out the first-ever "Galaxy S3" device.

It now has a total of six factoriesthat it says can produce two smartphones every second.

India is the world's fastest-growing smartphone market, and now it has a factory to match that demand.

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The South Korean President along with Prime Minister Modi will visit the Gandhi Smriti on Monday. The capacity increase is in line with Samsung's plans to expand production that will help it compete with its Chinese rivals in the Indian market.

Samsung said last year it would spend INR49.2 billion ($716.57 million) over three years to expand capacity at its Noida plant.

He said the "Make in India" initiative is not just an economic policy measure, but also a resolve of better ties with friendly nations such as South Korea.

New factory will double current capacity for mobile phones to an annual 120m units.

Samsung India, that registered 27 per cent growth in mobile business revenue for the financial year 2016-17 - accounting for a whopping Rs 34,300 crore of its reported Rs 50,000 crore sales - won't be able to hide the smile when the new facility kicks off production from July 9.

The prime minister said India has 40 crore smartphones in use and 32 crore people using the broadband internet. The company has one design centre in Noida with workforce of over 70,000 people. "India is going through digital transformation and I encourage more companies from South Korea to come and invest here", Modi noted. "India and Korea have a long-standing history of exchange, you are a friend who helped us in time of need". "In the past four years, the number of mobile manufacturing factories has gone up from two to 120".


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