The logo of Samsung is seen on a building during the Mobile World Congress in Barcelona, Spain February 25, 2018. The new facility is spread across an area of over 140,000 square meters. Over the weekend, Samsung opened the world's largest mobile phone factory on the outskirts of Delhi, via Bloomberg.
India's smartphone market grew 14 per cent with total shipments of 124 million units in 2017, the fastest pace of growth among the top 20 markets, according to International Data Corp.
Last June, Samsung announced an investment of ₹4,915 crore to add new capacity at the Noida plant.
The company is now making 67 million smartphones in India and with the new plant being functional, it is expected to manufacture almost 120 million mobile phones. Earlier on Monday, the South Korean president visited Gandhi Smriti in New Delhi where he paid tribute to Mahatma Gandhi.
# 05:30 PM: Uttar Pradesh CM Yogi Adityanath joins PM Modi at the Samsung plant in Noida. Samsung is aiming to manufacture 120 million phones a year. Part of the trip included the official opening of the biggest smartphone factory in the world, based in Noida, Uttar Pradesh. Currently, it's manufacturing 67 million smartphones. "India and Korea have a long-standing history of exchange, you are a friend who helped us in time of need". More than 10 percent of its total production now takes place in India - but that figure could rise to 50 percent within the next three years if everything goes to plan.
Moon said South Korea wished to participate in the Indian infrastructural projects, including the government's plan to build 100 smart cities and construct an industrial corridor linking the major cities.
A financing arrangement of 10 billion dollars has been set by the Korean side for infrastructure development in India.