For further consolidating its leadership in the mobile phones and consumer electronics segments, the South tech giant Samsung today said that it is gong to invest Rs 4,915 crore in Noida plant which manufactures smartphones, refrigerators, and TVs.
HC Hong, President, and CEO, Samsung Southwest Asia, said, "This new investment of Rs 4,915 crore is a testament to our continuing commitment to 'Make in India' and to Uttar Pradesh, which has been our partner right from the day Samsung's journey in India began. Steadfast support from the state and local authorities in Noida has helped make our vision of 'Make for India' a reality. Today, on the back of the Digital India movement led by millions of young Indians, we are witnessing a rise in adoption of electronic devices, smart appliances, and mobile phones. A bigger manufacturing plant will help us cater to the growing demand for Samsung products across the country."
The expansion of the plant on an additional 35 acres of land adjacent to the current facility will double the production capacity of both mobile phones and refrigerators. The investment proposal was recently approved by the Uttar Pradesh government under its Mega Policy.
Electronics Minister Ravi Shankar Prasad said, "42 mobile manufacturing units, 30 mobile component units have come up in the past three years. These are unprecedented numbers. Samsung is not only making in India but now India will make for the world."
He said that the centre is aiming at 50 crore mobiles phones in the next 2-3 years.
Samsung has two factories-in Noida and Sriperumbudur, Tamil Nadu, five R&D centers and one design centre in Noida, employing over 70,000 people and expanding its network to over 1.5 lakh retail outlets.
It has also launched service vans to provide timely and quality customer service to consumers across rural India, expanding its network to over 3,000 service points, the largest by any company in the country. By not only fulfilling its commitment to 'Make in India' but also living its promise of 'Make for India', Samsung has emerged as a truly Indian company at heart.