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Moon focuses on economy, business on 2nd day of trip to India

10 July 2018

Samsung, the world's leading smartphone manufacturer, has opened a new factory in Noida, Uttar Pradesh, India, which is touted as the world's largest mobile factory.

Prime Minister Modi speaking at the inaugural ceremony said that the new unit of Samsung will be a matter of pride for not just India but Uttar Pradesh and Noida.

"The Noida plant has now become Samsung's largest smartphone manufacturing unit", Moon said, as the company announced that it planned to eventually manufacture 120 million smartphones a year at the factory. The company started producing refrigerators at the plant in 2003 while mobile phone production started in 2007.

The 35 acre-mobile factory located on the outskirts of New Delhi is said to be the world's largest.

Indian economy, the fastest growing major one in the world, as well as a vast expanding neo-middle class offer unlimited opportunities, he said. 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. "Mobile manufacturing in India has been [riding] on the shoulders of Chinese brands of late, but the expansion of a brand like Samsung will send a very positive message across the globe".

"The new facility with give direct jobs to 1,000 people, taking the existing workforce at this plant to 6,000".

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"This will help Samsung bring some local features to the devices powered by R&D here".

Last year, India overtook the U.S. last year to become the world's second-largest smartphone market after China.

Samsung has played a key role in generating employment in India with over 70,000 people.

"As you may well know, the Moon Jae-in government is building a cooperative relationship with India and Asean, which are thought to be the next China, while upgrading the country's relationship with India and Asean countries to the level of its ties with the four super powers", Mr Kim said, according to Yonhap. The South Korean President, who is on a four-day visit to India, was accompanied by first lady Kim Jung-sook, senior members of his cabinet, officials as well as industry captains.

Samsung is expected to unveil the Galaxy Note 9 in Brooklyn, New York, on August 9 and is teaming up with ARM to work on a mobile chipset that will run at speeds above 3GHz. "This will [also] help the ecosystem and auxiliary industries grow as they will have demand to be met", he added.

Moon focuses on economy, business on 2nd day of trip to India