PM Narendra Modi inaugurates world's largest mobile factory in Noida

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Prime Minister Narendra Modi and South Korean President Moon Jae-in inaugurated the ‘world’s largest mobile factory’, which belongs to Samsung Electronics, in Noida's sector 81 today. The Samsung facility will be manufacturing close to 120 million mobile phones per year, from the current capacity 67 million mobiles in India. Spread across 35-acre, the facility is in addition to Samsung’s existing manufacturing facility in Noida. The South Korean firm established one of the first electronics facilities in India in the early 1990s, and started manufacturing TVs in 1997. The current mobile phone manufacturing unit was, however, added in 2005.

The South Korean giant announced a Rs 4,915 crore investment to expand the Noida plant in June last year, and after a year, the new facility is ready to double production.

According to Reuters, the facility will allow Samsung to manufacture phones at a lower cost due to its scale, while other phone making hubs in China, South Korea and Vietnam are getting expensive, analysts who track the sector said.

The factory will also help Samsung compete with rivals such as Chinas Xiaomi, which became Indias biggest smartphone brand by shipments earlier this year, said the report.

Samsung also plans to export India-made handsets, the company said in a statement.

Prime Minister Narendra Modi`s government has imposed taxes on import of key smartphone components as part of a plan to make India a hub for electronics manufacturing to boost growth as well create tens of millions of new jobs.

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