Samsung To Invest 5 Billion To Boost Mobile Production In India

samsungIndia is evidently a strong market for many majors. Reportedly, Samsung has planned to invest Rs 500 crores to further pump its mobile production capacity in India.

An industry source told PTI, “Samsung is working to invest Rs 5 billion 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.”

Samsung’s India spokesperson told PTI, “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.”

Earlier this year, Samsung had said that it will be manufacturing its Samsung Galaxy S4 in its Noida facility, however, at that time the investment amount was not revealed. According to the PTI report, Noida facility manufactures about 3.5 to 4 crore phones annually, including 12 smartphones models such as Galaxy S3.

In 2011, the South Korean major had talked about an investment of USD 70 million (around Rs 315 crore) to prep up its mobile production capacity.

IDC, market research firm reported that Samsung led the Indian smartphone market with shipment of around 20 lakh smartphones accounting for 32.7 percent of the total smartphones shipped in January-March 2013 period.