Thu. Mar 28th, 2024
Samsung electronics Noida Plant

Samsung, Korea based technology company is planning to double its production from the Noida plant. According to a few media reports, the company is looking to invest additional ₹5000 crores in the plant it already operates in Noida. The total amount of ₹5000 crores includes the ₹2000 crore amount which was announced to be invested in the same plant last year.

If the announced fund is invested in India, this will be the biggest investment by Samsung in India. The Korean company, which is already the biggest smartphone manufacturers in the world, has plans to set up India as its manufacturing and export hub. According to a few officials involved directly in the development, Samsung Electronics is planning to export the devices manufactures in India to Europe, Middle East and Africa. It plans to start the exports by as soon as 2020.

Samsung has had a dominating position in India market, however, since last few years, entry of Chinese brands in India has made the competition tougher. With the increased local production, Samsung will be able to offer more aggressive pricing compares to its Chinese counterparts. Which might help the company to regain the lost ground in battle with the brands such as Vivo, Xiaomi and Oppo.

Samsung currently has a plant covering 130,000 square metres. The company is planning to set up another plant of the same size near to the existing plant. A response from the company over this is still awaited, however, according to a few government officials familiar with the development, Samsung has sought approval to start another production unit, which is expected to start operating from the financial year 2019-20.

By Prithviraj Singh Chauhan

Part time journalist, full-time observer. Editor-in-Chief at The Indian Wire. I cover updates related to business and startups.