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

Related News

Samsung’s smartphones, tablets, and TVs are discounted on Amazon …

  • By Asif S.
  • 2 days ago

Galaxy M33 5G could launch in India soon

  • By Asif S.
  • 3 days ago

Galaxy S20 FE, Galaxy S20 FE 5G get Android 12 update in India

  • By Asif S.
  • 4 days ago

Samsung may soon launch more mid-range 5G smartphones in India

  • By Asif S.
  • 7 days ago

Samsung launches Galaxy Tab A8 in India with pre-order benefits

  • By Asif S.
  • 1 week ago

Galaxy S21 FE launched in India with Exynos 2100 and premium price tag

  • By Anil G.
  • 1 week ago

Samsung offering free Galaxy Tab A7, soundbar with some premium TVs in …

  • By Asif S.
  • 2 weeks ago

Here’s how you can pre-book the Galaxy S21 FE in India

  • By Anil G.
  • 2 weeks ago