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: 관리자 : 2019-05-08

[Press] Korea Smart Cities Daily News Clipping - May 08

Samsung's Electronics Units Planning to Invest 420 Bil. Won in India 

Samsung Group’s electronics units are said to be planning to invest 25 billion rupees (US$360.35 million or 421.25 billion won) in smartphone production lines in India. 

Samsung Display Co. and Samsung SDI Co. are planning to establish their local subsidiaries in India and invest 15 billion rupees (US$216.21 million or 252.75 billion won) and 9 billion to 10 billion rupees (US$129.73 million to US$144.14 million or 151.60 billion to 168.50 billion won), respectively, in building their production facilities in the country,. 

hese investments seem to be intended to localize the supply of components to Samsung Electronics’ smartphone production plant in Noida, India, which is the largest in the world. Previously, Samsung Electronics invested a total of 49.15 billion rupees (US$708.45 million or 828.18 billion won) to expand the local plant. A completion ceremony was held in July last year with President Moon Jae-in and Indian Prime Minister Narendra Modi in attendance. The plant has an annual production capacity of 120 million units of smartphones and televisions.

In this regard, The Economic Times reported that Samsung Display has already signed a memorandum of understanding (MOU) to set up a plant to manufacture displays for cellphones by April next year, while Samsung SDI is in talks with the Indian government to construct a smartphone lithium battery production plant.

[Source : Business Korea]

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