HindustanTimes Fri,26 Dec 2014

Samsung plans Rs. 500cr investment to ramp up mobile production

PTI  New Delhi, July 01, 2013
First Published: 13:41 IST(1/7/2013) | Last Updated: 13:43 IST(1/7/2013)

South Korean electronics major Samsung is planning to invest over Rs. 500 crore to ramp up its mobile production capacity in India, industry sources said.


"Samsung is working to invest Rs. 500 crore in its mobile production facility in India. It had approached government in this regard to take benefit of policy announcements and other incentives. The investment proposals have been cleared at Department of Electronics and IT (Deity) level," a source told. When contacted, Samsung India spokesperson said: "We are looking at strengthening our manufacturing presence in the country, to fulfil our growing needs in the market. However we are not able to provide further details at this stage."

The company in April had said that it will manufacture its latest high-end smartphone Samsung Galaxy S4 in its Noida facility, but had not disclosed the investment that it would make in the manufacturing facility.

Noida facility manufactures about 3.5 to 4 crore phones annually, including 12 smartphones models such as Galaxy S III.

Samsung had last announced investment of $70 million (around Rs. 315 crore) in September 2011 to ramp up its mobile production capacity from 1.2 crore per annum to 3.6 crore per annum.

As per latest report by market research firm IDC, Samsung led the Indian smartphone market with shipment of around 20 lakh smartphones accounting for 32.7% of the total smartphones shipped in January-March 2013 period.

more from Business

Reliance Cap ropes in Japanese bank as partner

Firming up its plans to set up a bank, Anil Ambani-led Reliance Capital on Thursday roped in Japan’s Sumitomo Mitsui Trust Bank (SMTB) as a strategic partner and minority investor to collaborate on various businesses, including its proposed banking venture.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved