Samsung launches world’s largest mobile phone factory in India
The Korean electronics giant’s new manufacturing facility in India will have the capacity to assemble 120 million smartphones per year
Samsung Electronics, the South Korean maker of Galaxy smartphones, said it is opening the world’s largest mobile phone manufacturing facility on the outskirts of the Indian capital, as smartphone demand in the country surges.
The factory was inaugurated by Indian Prime Minister Narendra Modi and South Korean President Moon Jae-in on Monday. Both leaders visited the facility adjoining New Delhi, according to India’s ministry of external affairs.
“The opportunity is just massive,” said Faisal Kawoosa, who heads new initiatives at research firm CMR. “Such a large facility will help Samsung cater to the huge demand in a country of 1.3 billion people where there are only 425 million smartphone users.”
Since taking power in 2014, Modi has pushed his “Make in India” initiative, which encourages companies to set up plants in the country, as the nation attempts to bolster domestic manufacturing. India attracted the highest ever foreign direct investment in the past year with inflows totalling US$62 billion.
India’s smartphone market grew 14 per cent with total shipments of 124 million units last year, the fastest pace of growth among the world’s top 20 markets, according to technology research firm IDC.
