World’s leading smartphone maker Samsung is planning to invest over Rs 500 crore to bolster 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 PTI.
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.“
Samsung stepping up India production
Earlier, we had reported that Samsung will soon be manufacturing its latest flagship the Galaxy S4 in its Noida facility. But at the time there was no word on the extent of the investment in the facility. Noida facility currently manufactures about 3.5 to 4 crore phones annually. This includes last year’s flagship the Galaxy S3 as well as 11 other smartphone models.
Samsung had last announced investment of USD 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. Samsung is the leading player in the Indian smartphone market with around 20 lakh smartphones shipped between January and March this year. It accounted for 32.7 percent of the total smartphones shipped in that period.
Publish date: July 1, 2013 5:16 pm| Modified date: January 7, 2014 11:54 am
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