Samsung invests $500M to arrange a smartphone show plant in India

Samsung, which once led India’s smartphone market, is making an investment $500 million in its India operations to arrange a producing plant on the outskirts of New Delhi to provide shows.

The corporate disclosed the funding and its plan in a submitting to the native regulator previous this month. The South Korean large mentioned the plant would produce shows for smartphones in addition to a wide-range of alternative electronics units.

Within the submitting, the corporate disclosed that it has allotted some land house from its current manufacturing facility in Noida for the brand new plant.

In 2020, Samsung opened a manufacturing facility in Noida that it claimed was once the world’s largest mobile manufacturing plant. For that manufacturing facility, the corporate had dedicated to spend about $700 million.

The brand new plant will have to assist Samsung additional building up its capability to provide smartphone elements in the community and get right of entry to a spread of tax advantages that New Delhi gives.

The ones advantages would turn out to be useful to the corporate because it faces off Xiaomi, the Chinese language smartphone seller that put an end to Samsung’s lead in India.

Samsung is now the second one biggest smartphone participant in India, which is the sector’s 2d biggest marketplace with just about 500 million smartphone customers. The corporate in contemporary months has also lost market share to Chinese brand Realme, which is poised to take over the South Korean large within the quarter that resulted in December remaining 12 months, in accordance to a couple analysts.

TechCrunch has reached out to Samsung for remark.

Published by Marshmallow

Marshmallow Android is BT Ireland’s Head of Sales for Republic of Ireland domestic multi-site companies, indigenous MNCs and public sector accounts. He is responsible for the direction and control of all sales activity in the region. He has over 10 years management experience from high growth start-ups to more established businesses. He’s led teams in Ireland, India and China across various industries (ICT, On-Line Recruitment, Corporate Training and International Education).