Samsung to invest $500 million in India to set up a manufacturing plant
By MYBRANDBOOK
Samsung is setting up a manufacturing plant on the outskirts of New Delhi that will produce displays. The company has disclosed in a filing to the local regulator that it is investing $500 million in India.
The South Korean giant said the plant would produce displays for smartphones as well as a wide-range of other electronics devices.
In the filing, the company disclosed that it has allocated some land area from its existing factory in Noida for the new plant.
In 2018, Samsung opened a factory in Noida that it claimed was the world’s largest mobile manufacturing plant. For that factory, the company had committed to spend about $700 million.
The new plant should help Samsung further increase its capacity to produce smartphone components locally and access a range of tax benefits that New Delhi offers. Those benefits would come in handy to the company as it faces off Xiaomi, the Chinese smartphone vendor that put an end to Samsung’s lead in India.
Samsung is now the second largest smartphone player in India. The company in recent months has also lost market share to Chinese brand Realme, which is poised to take over the South Korean giant in the quarter that ended in December last year, according to some analysts.
BREAKING NEWS
TECHNO TRENDS
Happiest Minds brings in an innovative GenAI chatbot
Happiest Minds Technologies has announced the new GenAI chatbot - ‘hAPPI...
Government mandates encryption for CCTV cameras to ensure netw
In the wake of issuing an internal advisory on securing CCTV cameras at g...
TRAI recommends allowing only Indian entities to participate i
The Telecom Regulatory Authority of India (TRAI) has recommended that onl...
Galaxy AI is available on more devices with Samsung One UI 6.1
Samsung has expanded the range of smartphones to which One UI 6.1 and Gala...
E-Magazine
TECHNOTAINMENT
Disney+ Hotstar wins the Best OTT Platform of the year
Film Critics Guild and Group M Motion Entertainment, in collaboration with
Miss World 2024: Krystyna Pyszková of the Czech Republic wins
Krystyna Pyszková of the Czech Republic has been crowned as the 71st Miss
MOVERS & SHAKERS
Brillio appoints Ashish Singh to its Board of Directors
Brillio has announced that Ashish Singh has been appointed to the company
JSW One Platforms ropes in Dr Ranjan Pai as Independent Direct
JSW One Platforms, part of US$23 billion JSW Group has appointed Dr Ranjan
OPEN YOUR EYES
INTERVIEWS
India continues to be a key contributor in Hitachi Vantara’s
The brand strategy of Hitachi Vantara is tied to further expanding the Hita
ETEK building a cybersecurity aware community
ETEK is a Global Managed Security Services expert with 30 years of experien
HOT PICK
HP launches first laptop in India with Microsoft CoPilot butto
HP has launched sleek and stylish Envy x360 14 laptops in India which beco
OnePlus debut its Nord CE4 smartphone
OnePlus Nord CE4 continues the trend of attention-grabbing design with two
MAKE IN INDIA BRANDS
CP PLUS INDIA PVT. LTD.
TALLY SOLUTIONS PVT. LTD.
BHARAT ELECTRONICS LTD.
MATRIX COMSEC PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Vijay Shekhar Sharma
Vijay Shekhar Sharma is an Indian technology entrepreneur and billiona...
Technology Icons Of India 2023: C P Gurnani
CP Gurnani (popularly known as ‘CP’ within his peer group), is the...
Technology Icons Of India 2023: Rishad Premji
Rishad Premji is the son of the Wipro head Azim Premji and was named a...
PARTNER SPEAKERS
PSU
PGCIL transforming India with its wide power transmission network
Engaged in power transmission, POWERGRID or PGCIL is a stated owned In...
TCIL continues to strengthen India with its technology expertise
TCIL undertakes consultancy & turnkey projects in the field of Telecom...
DRDO is India's largest and most diverse research organisation
DRDO is the R&D wing of Ministry of Defence, Govt of India, with a vis...
VIDEOS
Top 25 Brands
Value-Added Distribution
SONATA INFORMATION TECHNOLOGY LIMITED
Sonata Software Limited is a leading Modernization engineering company...
TEXONIC INSTRUMENTS
Texonic has carved a niche for itself in the Technology Distribution i...
INFLOW TECHNOLOGIES PVT. LTD.
Inflow Technologies is a niche player in the IT Infrastructure Distrib...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
