Samsung India Electronics Private Limited, this the name of the new industrial manufactory which is pinpointed in Noida, Uttar Pradesh. This is the world’s largest manufacturing factory by the South Korean company. The factory covers a 35-acre of land at Sector 81 Noida, it not only covers a piece of land but provides a lot of employment to the people in Noida too. Almost 10-20 percent of private workers in Noida, they work with Samsung and its large range of suppliers. Our very own PM Narendra Modi and the South Korean company Moon Jae-in landing together in India to inaugurate the plant on Monday.
History of the Business unit – Samsung
India is one the top five smartphone market for the company globally, even for the 2G smartphone and in every price segments. So, it makes sense to build a large factory for the production unit.
Samsung India was deployed in India in the year 1995 and then the next year Noida plant was inaugurated. By the year 2005, it has become the market pioneer for the panel TVs. Then the firm started manufacturing mobile phones and also excels in the smartphone industry in India and again become the front-runner. The company has 10 percent of its overall production and plans to proliferate it to 50 percent over the next three years.
In an interview, Tarun Pathak, Associate Director at Counterpoint Research, says that the facility gives Samsung an advantage by reducing the time to the market. As reported by IANS Pathak, the company can also bring export opening for Samsung to SAARC and other regions.
According to the new plans, the company is taking the production to a whole new level, In June last year, the company has invested Rs 4,915 crores to burgeon the Noida plant and the investment results to be pretty good and results in double production. Right now, the Noida plant is manufacturing 67 million smartphones and if all goes by the plan it is expected to manufacture roughly 120 million mobile phones. Though the company is not only focusing on the smartphones also the production of the appliances, like Fridge, washing machines, and Televisions.
Talking of the production, the revenue that company makes from India is also pretty massive. Samsung has been registered to a growth of 27 percent in only mobile business revenue for the financial year 2016-17 which accounts for a gigantic amount of Rs 34,300 crore of its reported Rs 50,000 crore sales.
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