India’s one of the most influential smartphone markets, Samsung, is now investing $500 million in their India operations to establish a manufacturing plant, which will be located at the periphery of New Delhi to generate displays.
The investment, along with the plans, were disclosed to local regulators in a filing by the company earlier of January 2020. The South Korean giant said that the plant would generate displays for smartphones and also for various other electronics devices. In that filing, the company revealed about the allocation of some land area from the current factory in the Noida for newer plant.
During 2018, the Samsung launched a factory in the Noida which they had claimed as the largest mobile manufacturers of the world. For the factory, the company committed to invest around $700 million. This newer plant should aid the Samsung to increase the capacity further to generate the components of smartphones locally and to access a wide range of tax advantages which New Delhi generally offers. The advantages would be handy to the company since it has faced off the Xiaomi – a Chinese smartphone vendor which put an end to the influence of Samsung across India.
The new plant should help Samsung further increase its capacity to produce smartphone components locally and access a range of tax benefits that New Delhi offers. Samsung is currently the 2nd largest smartphone player across India, with around 500 million smartphone users in the world. In recent months, the company has lost market share to the Chinese brand named Realme.