Samsung is gearing up to double its smartphone production in India with the help of a large investment – 40 billion rupees. The Korean giant plans to double the size of its factory located in Noida, UP to 240,000 square meters.
After completion, the factory will be capable of producing a total of 10 million smartphones every month. According to BusinessKorea, the ceremony will take place on June 7, however there is no word on when the factory will be completed.
The company signed a memorandum of understanding (MOU) for the factory expansion with the Uttar Pradesh state government in October 2016. Earlier, Samsung said that it plans on spending 19.7 billion rupees to expand the plant, but then decided to double the investment.
The company’s market share in India in the first quarter of 2017 was three percentage points lower when compared with the same period a year ago — 27 percent.
