Samsung to pour in $500 million for a new manufacturing unit in India

One of the leading smartphone brands, Samsung Electronics is planning to invest $500 million in its Indian business by building a display manufacturing unit in the outskirts of New Delhi. Along with making displays, the new facility would work on manufacturing a wide range of other electronic gadgets as well.

Reportedly, Samsung has revealed that it has secured a portion of land for its new plant from its standing unit in Noida. Earlier in 2018, Samsung had inaugurated its Noida plant, claiming it to be the world’s largest mobile manufacturing unit, built with a commitment towards investing roughly around $700 million.

As for the new facility, it would allow Samsung to further expand its capacity to manufacture components for smartphones locally and would endow them with a variety of tax benefits coming from New Delhi. These benefits would help Samsung get a competitive edge over Xiaomi, a Chinese smartphone firm that dethroned Samsung in early 2018’s.

According to reports, Samsung is currently the second-biggest smartphone company in India, a market which holds around 500 million smartphone users. However, the company is facing tough competition from other Chinese firm like Realme, which is projected to surpass the South Korean smartphone company in the coming years.

In other news, Samsung is planning to expand its European consumer base by launching its flagship mid variant mobile, Samsung Galaxy A51. As per credible sources, the Galaxy A51 would be starting at €370 and would steadily go up for high memory storage variants.

For Samsung’s French consumers, the smartphone would be available in two variant 4/64 GB and 6/128 GB on Amazon along with other retailers and would be positioned at a price point of €340 and €410. Meanwhile, its Dutch customers could visit Belsimpel and choose the best deal with or without a carrier.

Source Credit: https://techcrunch.com/2020/01/19/samsung-invests-500m-to-set-up-a-smartphone-display-plant-in-india/