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

Samsung increases Noida mobile display plant investment – again


Last updated: November 23rd, 2020 at 14:56 UTC+02:00

Barely weeks have passed since Samsung decided to throw more money at its Noida mobile OLED factory project and it’s now doing an encore. To date, the company committed approximately Rs. 1,500 crore to the facility, with new disclosures confirming an extra Rs. 5,000 crore – equating to over $675,000 – is on its way. That’s according to Satish Mahana, the industrial development minister for Uttar Pradesh.

The official said Samsung has so far been among the state’s key partners in driving economic growth in a post-lockdown world. In addition to being one of the rare few prospective investors in Uttar Pradesh who haven’t really scaled down their plans over the course of this year but have instead doubled down on them – repeatedly, following today’s development.

Samsung remains adamant to invest in India

While the Noida plant construction was previously targeting mid-2021 completion, the latest investments upgraded those expectations. Therefore, Samsung now expects all heavy construction work to be completed as early as January. The plant should consequently start commercial display production no later than April, Mahana said.

Samsung’s latest India investment is meant to result in an export-oriented factory specializing in small OLED for smartphones. Samsung previously projected the initiative will create around 1,500 jobs in the country. The overall value of the project was previously pegged at north of half a billion dollars. Looking at the bigger picture, the move is part of Samsung’s pursuit of domestic manufacturing subsidies from New Delhi. While this year’s developments impacted some of its near-term revenue targets, it would appear Samsung’s overall investment strategy remains as fixated on India as ever.

Business India
Load 0 comments

You might also like

Galaxy M13 5G rumored to come with Dimensity 700 and 50MP camera

Samsung has been continuously expanding its mid-range and budget smartphone portfolio with the introduction of …

  • By Sagar Naresh
  • 1 day ago

Samsung launches Galaxy F13 with big screen, 6,000mAh battery in India

After teasing it a few days ago, Samsung has launched the Galaxy F13 in India. It is a variant of the Galaxy M …

  • By Asif Iqbal Shaik
  • 1 day ago

Samsung launches its 2022 soundbar lineup in India

Earlier this year, Samsung unveiled its new soundbar models for 2022. Today, on the occasion of World Music Da …

  • By Asif Iqbal Shaik
  • 2 days ago

Samsung Crystal 4K Neo is coming to India with best-in-segment feature …

Samsung has announced a new Crystal 4K Neo TV for the Indian market, available through Samsung’s officia …

  • By Mihai Matei
  • 3 days ago

Galaxy F13 with an important advantage over Galaxy M13 coming on June …

Yesterday, Samsung started teasing the Galaxy F13 in India. The upcoming affordable smartphone’s design …

  • By Asif Iqbal Shaik
  • 6 days ago

Galaxy F13 will debut in India soon, teaser up on Flipkart

Signs of the Galaxy F13 started showing up two months ago when the phone appeared in Geekbench’s databas …

  • By Asif Iqbal Shaik
  • 1 week ago