Samsung to open world's largest smartphone factory in India

Samsung Sets up Worlds Largest Mobile Factory in Noida PC IANSSamsung Sets up Worlds Largest Mobile Factory in Noida PC IANS

According to Samsung, its mobile phone factory will be the largest in the world, allowing for 120 million devices per year to be produced out of its Noida, Uttar Pradesh, facility - which now produces 68 million units each year.

With Modi having introduced a tax on the import of certain smartphone components into India, it makes a great deal of financial sense for Samsung to produce its handsets within the country.

Uttar Pradesh Chief Minister Adityanath said India and South Korea have a strong trade and cultural relationship and invited new ventures to invest in the state.

The South Korean president Moon Jae-in is on an official visit in India.

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According to a statement from Samsung, the factory will help almost double its output of mobile devices in India from 68 million units a year to a whopping 120 million units a year. "2,000 new jobs will be generated in this plant", he said.

"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", Hong said. Samsung has two manufacturing plants and five research and development centres in India.

The new updated and enhanced facility will also manufacture refrigerators and flat panel televisions, and help Samsung to make further inroads into the electronics market of India. Over the weekend, Samsung opened the world's largest mobile phone factory on the outskirts of Delhi, via Bloomberg.

India, the report said, was emerging as a key economic partner for Korea, with its huge market whose importance would only increase as South Korea tried to reduce its reliance in its two biggest trading partners, China and the US.

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In 2005, the current mobile manufacturing unit was added, production began in 2007, and in 2012, when Samsung became the country's leading mobile manufacturer, the Noida facility rolled out the first-ever Samsung Galaxy S3 phone.

Announcing the investment past year, the South Korean giant said that it would position the Noida plant as a major production hub and create about 5,000 new jobs. Prime Minister Modi is credited with starting the "Made in India" initiative, which is attracting overseas investors including Xiaomi and fellow smartphone-maker Oppo.

"Whenever I talk to business community representatives, I always mention one thing that I don't think there is a middle-class home in India where a Korean product is not found", he added. Another picture tweeted by the PMO showed them at the Yamuna Bank metro station.

India now counts about 400 million smartphone users out of its population of 1.3 billion people, meaning there's still a vast amount of potential consumers to draw from, the Verge noted.

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