Samsung's investment comes at a time when Chinese rivals have increased their market share in smartphone segment
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Samsung India has announced an investment of Rs. 4,915 crore to expand its existing manufacturing facility in Noida. The company says this new investment is in-line with Indian government's 'Make in India' and 'Make for India' initiatives. In a statement, the company said that it will expand the plant by an additional 35 acres in land adjacent to the current facility. The expansion will help the company double the production capacity of both mobile phones and refrigerators. Samsung is currently leading in India's mobile phones segment, but is facing competition from Chinese rivals.
"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. A bigger manufacturing plant will help us cater to the growing demand for Samsung products across the country," said HC Hong, President and CEO, Samsung Southwest Asia.
Samsung has two manufacturing units in the county. One in Noida, Uttar Pradesh and the other in Sriperumbudur, Tamil Nadu. The company also has five research and development centres and one design centre in Noida. Samsung India employs over 70,000 people and is planning to expand its network to 1.5 lakh retail outlets.
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