South Korea to lift India ties on par with China, US, Japan

Samsung Sets up Worlds Largest Mobile Factory in Noida PC IANSSamsung Sets up Worlds Largest Mobile Factory in Noida PC IANS

India's smartphone market grew 14 per cent with total shipments of 124 million units previous year, the fastest pace of growth among the world's top 20 markets, according to technology research firm IDC.

Located in Noida, India, on the outskirts of New Delhi, the factory will almost double Samsung's Noida unit capacity from around 68 million units a year to 120 million annually according to a report from Bloomberg.

The factory was formally inaugurated on Monday by Indian Prime Minister Narendra Modi and South Korean President Moon-Jae In, underscoring Samsung's efforts to increase production in the world's fastest growing major mobile phone market.

Although Samsung held the top spot on the list of mobile phone manufacturers in India for a long time, it was recently knocked down to the second position by Chinese manufacturer Xiaomi. The new facility is spread across an area of over 140,000 square meters. More than 120 local factories now assemble mobile phones and accessories like chargers, batteries, powerbanks and earphones in India, according to tech research firm Counterpoint.

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Mobile manufacturing was added in 2005.

Samsung Electronics Co., the South Korean maker of Galaxy phones, said it is opening the world's largest mobile phone manufacturing facility on the outskirts of the Indian capital, as smartphone demand surges.

The new updated and enhanced facility will also manufacture refrigerators and flat panel televisions, and help Samsung to make further inroads into the electronics market of India.

"Today is an important day in making India a global hub of manufacturing", he said, adding that the investments in such factories are a cornerstone of India's economic and commercial engagements with countries like South Korea.

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Samsung, he said, had an R&D hub in India and now has a manufacturing base too. Currently, there are 40 crore smartphone users in India. He claimed that the factory will provide 35,000 jobs directly and indirectly, and the state government will ensure that the unit got the proper infrastructure it needed.

Last year, Samsung announced budget of Rs 4915 crore to expand the phone manufacturing factory, and now, the plant is ready to manufacture nearly every model of Samsung.

"Though we may have opened the doors to the markets with the Korea-Asean free trade agreement and Korea-India Comprehensive Economic Partnership Agreement, there may be difficulties in supplying our companies' products unless there is an adequate distribution network in those markets", he said.

Earlier Modi and Korean President Moon Jae-in took a ride in the Delhi Metro train. The company has one design centre in Noida with workforce of over 70,000 people.

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