PM Modi to inaugurate world's largest mobile factory in Noida today

PM Modi to inaugurate world's largest mobile factory in Noida today

Yolanda Curtis
July 9, 2018

Prime Minister Narendra Modi and South Korea President Moon Jae-in inaugurated a mobile phone manufacturing facility of Samsung Electronics in Noida on Monday. According to sources, Samsung is expected to manufacture around 12 crore phones a year. The prime minister said more than 1 crore mobile phones will be made in this new unit of Samsung, while 30% of this will be exported. However, the company may not stop here and could achieve more feats as its new facility in Noida is the world's biggest which will give a considerable boost to the production capacity for Samsung. Today's launch can be seen as an extension of the "Make in India" initiative of the Modi government.

Speaking on the occasion, Narendra Modi stated that technology has transformed human lives in India. Standing at the Noida plant, I think of the way India and Korea first met, all those years ago with dynamic civilisations.

According to an article in the Diplomat magazine's website, "During the (2017 presidential) election campaign, Moon pledged that he would elevate ties with India to the level of Korea's relations with the four major powers in and around the Korean Peninsula-China, Japan, Russia and the United States".

The Noida plant utilised the investment of Rs 4,915 crores which was announced by the company in June past year.

The foundation stone of the Noida plant was laid by Samsung in 1996. Later in the evening at around 5 PM, he will visit the Samsung India Electronics unit at Block B, Sector 81, Noida.

Samsung witnessed 27 per cent growth in revenues from India in the financial year 2016-17 and if the progress continues, it might also start producing flagship products in television and refrigerator category. In 2003, refrigerator production began.

In 2012, Samsung became the leader in mobile phones in the country and the Noida facility rolled out the first-ever "Galaxy S3" device.

This week Samsung is opening what it's calling the world's largest mobile phone factory in the the world's second largest smartphone market.

The company now has over 10 per cent of its overall production in India and aims to take it to 50 per cent over the next three years.

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