Samsung to invest Rs 500 crore to ramp up mobile phone manufacturing in India
Samsung is gearing up to expand its mobile business in India by investing over Rs 500 crore to set up a new manufacturing facility. This will help the company in increasing its production to meet the growing demands for its mobile devices in India, PTI reports. Samsung has approached the Indian government for the same to make the best of the governmental policies and incentives for such a process.
Samsung is the number one smartphone brand in India, and this investment will help them in expanding their production capacities in India. The report claims that the investment proposals have been cleared at the Department of Electronics and IT (DEITY) level.
A couple of months back the company had also disclosed its plans on manufacturing Samsung Galaxy S4 in its Noida manufacturing facility, which is claimed to manufacture close to 4 crore phones annually, including 12 smartphones models like the Galaxy S3.
India is among the top three smartphone markets worldwide, and thus has a huge potential for smartphone vendors to expand their business.