Speaking before cutting the ribbons of the new facility, PM Modi said the new unit will be a matter of pride for not just India, but Uttar Pradesh and Noida.
Built at a cost of Rs 4,500 crore, the Samsung's Noida plant can produce 12 crore mobile phones every year, ranging from low-end smartphones to its flagship Samsung Galaxy S9, and will create 15,000 local jobs. Standing at the Noida plant, I think of the way India and Korea first met, all those years ago with dynamic civilisations.
According to Tarun Pathak, Associate Director at Counterpoint Research, the new facility gives Samsung an advantage by reducing the time to market. In 1997, production commenced and the first television was rolled out.
While Modi's "Make in India" campaign is still a long way from delivering on ambitious job promises, the program has had some success with the phased manufacturing of mobile devices and components. In 2003, refrigerator production began.
Samsung has been enjoying a feast in the smartphone market, especially in India, where it has the tag of highest selling mobile brand, after Xiaomi.
By 2005, Samsung had become market leader in panel TVs and in 2007, the existing Noida facility started manufacturing mobile phones.
"For Samsung, India is among the top five smartphone markets globally".
At present, India attributes to 10 percent of overall production capacity of Samsung. India is a big opportunity across price segments, including 2G feature phones.
Samsung now manufactures over 60 million smartphones annually in India and with the new plant, it is expected to manufacture almost 120 million mobile phones. "But I think that has been left behind with South Korean investments worth $600 million coming in a year ago", Prakash said pointing at firms like carmaker Kia and Samsung announcing fresh investments in India in recognition of the Indian market and the buying power of the urban middle class.
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