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Samsung invests Rs517 crore in Noida plant

Livemint:  January 28, 2015

New Delhi: Samsung Electronics Co. Ltd has invested Rs.517 crore towards the expansion of its Noida manufacturing plant under the Uttar Pradesh Mega Policy, the company said on Tuesday.

The company’s entry level smart phone Samsung Z1, which runs on its own operating platform, will also be manufactured at the Noida facility. Most of the phone’s software is being developed at the Noida Research Centre, the company added.

Samsung Z1, priced at Rs.5,700, was launched earlier this month in India and is the company’s latest push to survive the massive competition it faces from Chinese brands across the globe. The phone is expected to be launched in Bangladesh soon.

“Uttar Pradesh (UP) is one of the most important states for Samsung and the expansion of the Noida Mobile unit will further strengthen our presence in the country and enhance our manufacturing operations,” said Hyun Chil Hong, President and chief executive, Samsung India Electronics.

According to the company, Samsung currently employees over 11,000 people in UP. Hyun added, “we are looking forward to create more job opportunities in the state.

The South Korean company, has completed 20 years in India, where it has three research labs and two manufacturing plants with a total of 45,000 employees.

“Samsung India Electronics is committed to strengthen its manufacturing infrastructure and will gradually expand capacity at this plant to meet the growing domestic demand for mobile handsets,” the company said.

Globally, Samsung employs 307,000 people across 84 countries.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

x IBEF : India Brand Equity Foundation