SEOUL, June 5 (Korea Bizwire) – Samsung Electronics Co. is set to make 700 billion won (US$623 million) worth of investment in India to expand the production of smartphones in the large South Asian country, industry sources said Sunday.
According to governmental and industry sources in India, Samsung is planning to expand its existing 120,000-square-meter production line in Noida, Uttar Pradesh, in the northern part of the country, to 240,000 square meters.
If the expansion is completed, the factory will be capable of producing 10 million units of handsets every month, marking a sharp rise from the current capability of 5 million units. Its monthly production of refrigerator is also set to grow twofold to reach 200,000 units.
The South Korean tech giant currently owns two factories in India, with the other being located in Chennai, Tamil Nadu.
Set up in 1997, the production line in Noida focuses on handsets, refrigerators and LED TVs, while the plant in Chennai makes washers and air conditioners, along with refrigerators and LED TVs as well.