The South Korean giant Samsung recently announced that the plant in Noida is to be the world’s largest manufacturing unit bringing it to the top among the renounced consumer electronics manufacturers. Indian Prime Minister Narendra Modi and South Korean President Moon Jae-in inaugurated the ceremony on 9th of July, 2018 where PM addressed the crowd saying that it is a prized possession for India as it will add value to the idea ‘Make in India’ and open the global market of smartphones and other electronic consumer goods for the country.
This Rs.5000 CR deal will not only strengthen Samsung’s relationship with India but also bind the future of the two nations and result in a win-win situation. According to President and CEO of Samsung India, HC Hong, a bigger manufacturing plant in India will save the market time in the growing demand for Samsung products across the country. Markets of Korea and Brazil are not so significantly developed whereas the American market is too saturated. Experts say that it makes sense for Samsung to set up a huge manufacturing unit in India as Indian market is a significant opportunity across price segments for both smartphones as well as 2G feature phones. In the upcoming days, the new facility is looking forward to building the complete electronic ecosystem including the other top in-line products of the world famous brand.
In June 2017 the company announced an investment of Rs. 4,925 CR for expansion of the plant and today after a year, the unit is ready to double the production at the 35 acres facility in Sector 81 of Noida, Uttar Pradesh. Earlier the capacity of the plant was to manufacture 67 million smartphones. With the increased technological influence, India is using 40 CR smartphones, and 32 CR people are using broadband connections. To cater to this huge demand, this plant is now expected to deliver a full strength supply of 120 million smartphones each year out of which around 30 percent will be exported.
Samsung India, one of the former electronics manufacturing companies, was established in the early 1990s and started manufacturing its flat-panel TVs and refrigerators within a few years after its installation. The mobile manufacturing unit was initiated at this plant in 2007. Since then, it is nailing the brand in the Indian smartphones market to date. One of the highlights is the launch of Galaxy 3S in 2012 at the Noida plant. Over 10 percent of company’s production is entirely performed at the Indian plant, and in the coming three years it is expected to rise to 50 percent. In the financial year 2016-17, Samsung India has indicated 27 percent growth in the mobile business revenue. It has two plants in India, one in Noida and the other in Sriperumbudur, Tamil Nadu. It has five R&D centers and one design center in Noida. According to a media report, together with both the plants have total employment of over 70,000 people. In the coming days, more than 2000 new opening is expected at the unit.