Samsung has set up a massive factory in Noida, UP, India to manufacture components for its products. The company has also made a significant investment in setting up a display panel manufacturing plant at the factory.
The company had confirmed in December last year that it would shift its display manufacturing unit from China to India. Merely six months after the announcement was made, Samsung is now done ditching China for India.
Samsung has invested almost $650 million in Noida
In a bid to attract Samsung's mobile and IT display production unit to Noida, the government gave special incentives to the tune of $61 million. This massive investment was to create 500 direct and over 1,300 indirect jobs.
Samsung has now completed the construction of the display manufacturing unit that was shifted from China to Noida. A delegation from the company called on the state's chief minister over the weekend.
It said that due to the better industrial environment and investor-friendly policies, Samsung decided to relocate its display manufacturing unit from China to Noida. The work of setting up the unit has now been completed.
The South Korean giant has spent almost $650 million to shift the manufacturing unit to India. It underscores the company's commitment to manufacturing devices and components in India. With the heavy construction work now completed, it's quite possible that this new manufacturing unit may be able to start commercial display production in the coming months.