Join us on Telegram | Early Samsung Black Friday deals, check them out right now!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission. Learn more.

Samsung to invest $360 million in India, set up two new production plants

Business
By 

Last updated: May 3rd, 2019 at 10:33 UTC+01:00

Samsung is reportedly mulling a ₹2,500 crore (~$360 million) investment in India to expand production in the country. The company has plans to set up two new production plants for local manufacturing of smartphone displays and batteries. The fresh round of investment comes after the company inaugurated the world’s biggest mobile factory in India last year.

New plants will be operational by April 2020

Samsung has reportedly set up two new manufacturing entities in India – Samsung Display Co and Samsung SDI India. Samsung Display Co will set up its plant in Noida and has already signed a memorandum of understanding with the state government. The ₹1,500-crore (~$217 million) plant for manufacturing smartphone displays is planned to be operational by April next year.

Samsung SDI, meanwhile, is planning to invest about ₹900-1,000 crore (~$130-144 million) in India to set up a manufacturing unit for lithium-ion batteries. Samsung SDI India has also completed its regulatory filings with the Registrar of Companies (RoC). It will finalise the plans post the general elections in the country.

Separately, Samsung Venture Investment Corp has also started its operations in India. The Samsung capital arm will fund startups in electronics hardware and software businesses.

The products from the two new plants will be supplied to both Samsung India as well as other smartphone vendors who currently source components from Samsung’s overseas operations. Samsung may even export components from India if it can finalise a deal with the government for export incentives. The company is willing to further ramp up the investments if need be.

Business India
Load 5 comments

You might also like

Galaxy Z Fold 4 gets stable Android 13 (One UI 5.0) update in India

Over the past week, Samsung released the stable Android 13 update to the Galaxy Z Fold 4 in South Korea and the US. Now, the update is also rolling out to the Galaxy Z Fold 4 in India. Other countries could get the update within the next few days. The stable Android 13 (One UI […]

  • By Asif Iqbal Shaik
  • 11 hours ago

WhatsApp launches Business Directory feature in five countries

WhatsApp Business has been a fruitful solution for many businesses across the globe, especially smaller ones. To make it more feature-rich, WhatsApp is rolling out a business directory feature that will be similar to the yellow pages from the past. Using this WhatsApp business directory, users will be able to browse for any company they […]

  • By Sagar Naresh
  • 15 hours ago

Galaxy M32 5G is getting stable Android 13 (One UI 5.0) update

Well, it’s a pleasant surprise for Galaxy M32 5G users! Samsung has started rolling out the Android 13-based One UI 5.0 update to the Galaxy M32 5G ahead of many other high-end and pricier mid-range smartphones. The update is currently rolling out in India. The Android 13 update, featuring One UI 5.0, for the Galaxy […]

  • By Asif Iqbal Shaik
  • 4 days ago

You can now directly pay Spotify for music subscription via Android devices

After antitrust allegations against Google in the EU, it announced a first-of-a-kind billing system with Spotify that would allow users to choose an alternative payment method for the music subscription. This billing system was called ‘User Choice Billing’ or, in short, UCB. This was not specifically meant for Spotify but for all other Android apps and their […]

  • By Sagar Naresh
  • 1 week ago

Samsung sold products worth $1.77 billion in India in the last two months

Samsung, the world’s biggest smartphone brand, has revealed that it sold products worth INR 14,400 crores (around $1.77 billion) in India in September and October 2022. The company sold a record number of smartphones during the festive period in India, making it the South Korean firm’s best Diwali sales period. Aditya Babbar, Samsung India’s Senior […]

  • By Asif Iqbal Shaik
  • 1 week ago

Here’s when Galaxy phones and tablets will get stable Android 13 update in India

A few weeks ago, Samsung released the stable Android 13 and One UI 5.0 update to the Galaxy S22 series. Over the past couple of weeks, the company also released the stable Android 13 update to the Galaxy Note 20, Galaxy S20, and Galaxy S21 in some markets. Now, the South Korean firm has revealed […]

  • By Asif Iqbal Shaik
  • 1 week ago