Samsung Electronics, the South Korean maker of Galaxy smartphones, said it is opening the world's largest mobile phone manufacturing facility on the outskirts of the Indian capital, as smartphone demand in the country surges.More news: Lewis Hamilton fastest in Austrian GP first practice
The company now manufactures 67 million smartphones in India.
Not China or South Korea - and certainly not the U.S. - the tag of housing the world's largest mobile factory has straight away put Noida on top of the world manufacturing map when it comes to consumer electronics.More news: Tiger Woods, Phil Mickelson reportedly plotting $10m winner-take-all match
Samsung's new 35-acre facility in Sector 81, Noida, Uttar Pradesh will be one of the biggest in the world.
India's smartphone market grew 14 per cent with total shipments of 124 million units previous year, the fastest pace of growth among the world's top 20 markets, according to technology research firm IDC. "It will double the production capacity of both mobile phones and refrigerators", a company official said. Today, Samsung is the market leader across mobile segments. The two sides were looking at defence hardware procurement and manufacture, Prakash said pointing to India looking at minesweepers for the Indian navy. The total mobile phone market in India for 2017 was around 288 million, according to IDC data with 164 million shipments of feature phones in total. South Korean President Moon Jae-in will also grace the event alongside the Prime Minister. Officially the event will start at around 5.30 pm in the evening. Samsung possesses five R&D centres across Indian and retail outlets sum up to 1.5 lakhs in total. After smartphones, they can go into building top-of-the-line products in other categories like TVs, refrigerators as advance manufacturing in India still lags behind. The investment seems to make complete sense as 10 per cent of its production takes place in India and Samsungs plans to enhance it further to 50 per cent in the next three years.More news: Sebastian Vettel - Silly to suggest Kimi Raikkonen hit Lewis Hamilton on objective
Since taking power in 2014, Modi has pushed his "Make in India" initiative, which encourages companies to set up plants in the country, as the nation attempts to bolster domestic manufacturing.
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