Samsung’s Noida plant was set up in 1996 where it has been manufacturing smartphones, refrigerators and flat-screen televisions. The city bagged the title of housing the world’s largest mobile factory after Samsung expanded its manufacturing plant here. The manufacturing unit is all set to inaugurate today.
The new 35-acre Samsung Electronics facility at Sector 81 in Noida, Uttar Pradesh, will see Prime Minister Narendra Modi and South Korean President Moon Jae-in landing together at a quickly-prepared helipad adjacent to the factory to officially inaugurate it today. In June last year, the South Korean giant announced a Rs 4,915 crore investment to expand the Noida plant and after a year, the new facility is ready to double the production.
This new Samsung’s unit is said to be built at a cost of about ₹ 5000 Crores and with the help of this new unit the company will be able to produce nearly 120 million mobile phones every year which is currently limited to just 67 million. Not just that, this expansion will also double the company’s production capacity of consumer electronics like refrigerators and flat panel televisions. The company currently has over 10 percent of its overall production in India and aims to take it to 50 percent over the next three years. This was a big step towards their aim.
According to HC Hong, President and CEO, Samsung India, a bigger manufacturing plant will help them cater to the growing demand for the company’s products across the country. Samsung India, that registered 27 per cent growth in mobile business revenue for the financial year 2016-17 — accounting for a whopping Rs 34,300 crore of its reported Rs 50,000 crore sales – won’t be able to hide the smile when the new facility kicks off production from July 9.
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