PM Modi, South Korean President Moon Jae-in inaugurate Samsung Centre

Narendra Modi

Narendra Modi

PM Modi, India's Prime Minister will today inaugurated World's largest smartphone factory in Noida.

Expansion, which will be fully complete in 2020, is expected to almost double Noida (New Okhla Industrial Development Authority), India's current phone producing capabilities from 68- to 120 million phones per year.

In India, Samsung is the number two smartphone maker, under Chinese manufacturer Xiaomi.

New factory will double current capacity for mobile phones to an annual 120m units. The 35-acre facility will reduce time to market and give Samsung more elbow room to export to neighboring regions - ultimately giving Samsung a leg up on its competitors.

By 2012, Samsung became the market leader in mobile phones in the country and the Noida facility rolled out the first-ever "Galaxy S3" device.

"Cheaper mobile phones, high-speed internet, and cheap data are ensuring fast and transparent service delivery", he said.

Samsung Electronics has opened what it is calling the world's largest mobile phone manufacturing facility.

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The new updated and enhanced facility will also manufacture refrigerators and flat panel televisions, and help Samsung to make further inroads into the electronics market of India. Both Modi, who travelled in the Delhi Metro with Moon to reach the plant in Noida, said, "Our push for Make in India is not just part of our economic policy but a commitment for bilateral ties with countries like South Korea". India has around 40 crore smartphone users and almost 32 crore people use broadband.

Stating that Korean products can be found in nearly all middle-class homes, he said Samsung is a world leader in the smartphone market.

"This [plant] is a big step in the direction of making India a hub of world manufacturing". "Altogether, over 400,000 people are working in those units and Samsung is spearheading this with a workforce of 70,000 people", Modi said.

Speaking on the occasion, the South Korean President said the new Samsung unit will provide jobs to local people.

The South Korean electronics giant had a year ago announced a fresh investment of Rs 4,915 crore to expand the existing plant by another 35 acres.

India and Korea have complementary strengths, he said. That's one reason why Apple Inc. has struggled to gain market share in India, with most iPhone models priced beyond $500, according to a Bloomberg Intelligence report earlier this month.

PM Modi along with South Korean president Moon Jae-in will be inaugurating the facility in Noida at 5 pm Monday.

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