2020 has arrived with some outstanding news for India, specifically when it concerns smartphone technology. According to the sources, Samsung has got permission from the Indian government to set up a mobile display plant in New Delhi. The work has begun already and set to complete by April 2020.
Talking about the investment, the Korean company will be investing almost 500 million dollars (Rs 3500 crore) in Noida. This has been discussed by the RoC (Registrar of Companies). It will start with smartphones and later on, new sections like laptops and TV will be added as well.
Besides, Samsung India Electronics is giving a loan of R.s 3500 crore to Samsung Display to meep up the investment and requirement to set up the plant. According to some reports, Samsung India Electronics has also provided the plot to the Samsung Display group for setting up the manufacturing unit in Noida.
How Samsung is Approaching with its Production Unit?
Samsung has planned to mark its place and establish its technological trend in India. The company has already claimed that the smart production unit in the Noida factory will double in upcoming years. So, India will have 120 million units for manufacturing electronic gadgets. Hence, with the involvement of a display plant, it is definitely going to append in Samsung’s scale economy.
In addition to this, the company has decided to collaborate with local suppliers for expensive smartphone components. Also, Samsung is planning to discontinue importing panels for manufacturing the devices. Thereby, eliminating additional taxes and other charges correlated to it. Likewise, Samsung SDI will be launching a manufacturing plant for lithium-ion in batteries in India. This will eliminate the necessity of importing batteries from outside India as well.
Basically, their strategy is to bring products in India swiftly at an affordable price. The Korean giant is all set to mark its place inside the country through renowned gadgets. This is because, if they succeed over their competitors in terms of the product price, it will help them to stand out in the long run.
To spread its products all over the country, Samsung will definitely collaborate with various third-party manufacturers. If you consider Samsung’s strategies to set up India’s first mobile display plant, there are possibilities of intensified money investment in the future.