Samsung will pump $300 million to double the smartphone production in India by 2019. According to sources, the proposed investment will be used to double the capacity of smartphone production at its Noida, Uttar Pradesh plant by the end of 2019.
Since the state government has already approved the investment, Samsung will not face any problems going forward. It is being said that a memorandum of understanding has been signed between the state government and the smartphone giant.
In 1996, Samsung established its manufacturing plant in Noida. As of writing this, the 20-year old plant provides employment to over 4000 people by manufacturing smartphones, TVs, and refrigerators.
According to industry analysts, the smartphone production of the Noida plant is currently pegged at 60 million units. However, Samsung is gearing up to double the production capacity to 120 million units by the end of 2019.
Moreover, the upcoming expansion is expected to create 2200 additional jobs. You can also expect a huge spike in the indirect jobs involving suppliers and distributors. With an overall market share of over 38 percent in the Q2 2017, Samsung enjoys a comfortable position in the emerging and competitive Indian market.
