Samsung set to open a mobile manufacturing plant in India
Samsung the world’s largest manufacturer of mobile phones and smartphones is a South Korean multinational conglomerate headquartered in Samsung Town, Seoul. It was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group diversified into areas including food processing, textiles, insurance, securities, and retail. Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth. Following Lee’s death in 1987, Samsung was separated into four business groups – Samsung Group, Shinsegae Group, CJ Group and Hansol Group. Since 1990, Samsung has increasingly globalised its activities and electronics; in particular, its mobile phones and semiconductors have become its most important source of income. As of 2017, Samsung has the 6th highest global brand value.
Samsung‘s plans to open up a display manufacturing facility in India is not exactly a new development but the company finally got the green light from the Indian government and will proceed with the investment in April 2020.
The plant will be worth $500 million and will be located in Noida – close to Samsung’s biggest smartphone manufacturing facility in the world. The display facility will start with just smartphone displays with all the accompanying accessories and parts and will venture into the TV and laptop segment later on.
In order to branch out, the facility must first ramp up production and start meeting demands from third-party manufacturers. But first, Samsung is planning to hit 120 million manufactured units in the country and the new plant will definitely help speed up the process.
The Korean giant has plans to start manufacturing batteries in India as well but information surrounding the project is scarce for now.