Samsung to double smartphone production in India by 2019riyasrawther
Samsung has announced that it’s going to double its smartphone production capacity in India by 2019. It’s investing $300 million in the country for this purpose. The investment will be put towards doubling capacity at its Noida, Uttar Pradesh plant by the end of 2019. The state government has approved the investment so Samsung’s plan shouldn’t face any problems. A memorandum of understanding has been signed between the state government and Samsung.
The company established its manufacturing plant in Noida back in 1996. The plant employs around 4,000 people and makes Samsung products like TVs, smartphones, refrigerators and more. Smartphone production is currently at 60 million units and will be doubled to 120 million units by the end of 2019. The expansion is expected to create 2,200 additional jobs aside from countless indirect jobs for suppliers that will also see an uptick in business when the smartphone production doubles in a couple of years from now. Samsung already enjoys a comfortable lead in the Indian market, its market share was over 38 percent in the second quarter of this year.