Samsung to invest $620 million to double smartphone production in India
Samsung is reportedly mulling a $620 million investment in India to double smartphone production in the country. Government and industry sources mentioned in the report claim that Samsung is going to expand its existing 120,000-square-meter production facility in Noida, Uttar Pradesh to 240,000 square meters.
It’s reported that Samsung has completed the purchase of land next to the Noida plant for setting up the new production line. Samsung is expected to perform groundbreaking of the new plant at a ceremony on June 7.
Samsung Electronics India signed a memorandum of understanding for expansion of its Noida plant with the Uttar Pradesh state government in October last year. It announced back then that it was going to invest $305 million and has since decided to double the size of its investment.
Once the expansion is completed, the factory will be able to produce 10 million units of smartphones every month, which will be double the existing production capacity of 5 million units per month. Moreover, the monthly production of refrigerators will see a twofold increase from 100,000 units to 200,000 units.