Samsung Electronics announced the world's biggest mobile phone manufacturing facility in Noida, India. It was inaugurated by Indian Prime Minister Narendra Modi, accompanied by Korean President Moon Jae-in.
The facility in Noida will allow Samsung to make phones at a lower cost due to its scale when other phone making hubs such as China are getting more expensive.
The factor will also help Samsung to compete with rivals such as Xiaomi, which became India's biggest smartphone brand earlier this year.Samsung, which has been assembling phones in India since 2007, also plans to export India-made handsets, the company said in a statement.
Prime Minister Narendra Modi's government has imposed taxes on imports of key smartphone components. It was a smart plan to encourage electronics manufacturing in India which would boost growth and create millions of new jobs.
As per Samsung's last year statement ,it will spend Rs. 49.2 billion ($716.57 million) over three years to expand capacity at its Noida plant.
The new facility will help Samsung double its current capacity for mobile phones in Noida to an annual 120 million units after the phased expansion plan is complete, as per the company's statement.