PM Modi to inaugurate world's largest mobile factory in Noida today

Sheri Evans
July 10, 2018

India's smartphone market grew 14 per cent with total shipments of 124 million units a year ago, the fastest pace of growth among the world's top 20 markets, according to technology research firm IDC.

The expansion of Samsung's Noida facility - one of two manufacturing plants in the country - will help Samsung increase its phone production by nearly double.

Korean technology major Samsung's launch of its largest ever mobile phone manufacturing facility in India's Noida under the Make in India initiative is not just an economic policy measure, but also a resolve of better ties with friendly nations such as South Korea, Prime Minister Narendra Modi said, while inaugurating the factory on Monday.

According to International Data Corp, India's smartphone market grew 14 percent previous year to 124 million units, the fastest rate of growth among the top 20 markets. The company is hoping to tap into the lower manufacturing costs there as it pushes its presence in the fastest-growing mobile phone market, according to Reuters.

The plant is spread over 129,000 square meters, or 35 acres.

Samsung Electronics Co., the South Korean maker of Galaxy phones, said it is opening the world's largest mobile phone manufacturing facility on the outskirts of the Indian capital, as smartphone demand surges.

The new facility, which has been dubbed the "world's largest mobile factory", is located in Sector 81, Noida, Uttar Pradesh. "After, seeing this, the feeling that I get is that India and Korea may be having different cultures, but the two countries share commonalities in values such as peace, harmony and unity in diversity", Moon said after visiting the iconic Akshardham temple.

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The prime minister said India has 40 crore smartphones in use and 32 crore people using the broadband internet. Clearly there's untapped potential in the market, and coupled with the fact India is now the world's fastest growing market, Samsung spotted an opportunity. The facility will manufacture 1 crore units per month with around 30% of the production will be exported to countries in Middle East and African region.

Samsung said last year it would spend 49.2 billion rupees ($716.57 million) over three years to expand capacity at its Noida plant.

Moon will hold talks with Modi on Tuesday during his four-day visit, which India expects would open new avenues for expanding the bilateral partnership, particularly in the economic domain.

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"Unlike some other countries in the world which like Korean money but not Koreans, we like Koreans more than Korean money", Prabhu said in an apparent reference to uneasy relations between South Korea and some of its immediate neighbours.

The South Korean president Moon Jae-in is on an official visit in India.

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