Samsung to Build Display Panel Plant in India
21 January, 2020
Samsung Display plans to invest US$500 million to build a display panel plant in India, local media reported on Monday.
The new plant will be built in the industrial town of Noida on the outskirts of the capital New Delhi, where many global companies have their manufacturing facilities. Samsung Electronics opened a US$700-million smartphone factory there in 2018 with an annual production capacity of 120 million units. It is the world's largest smartphone plant.
Samsung's display affiliate will be able to locally supply the electronics giant with smartphone components. It established an Indian office in July last year.
India is one of only a few countries that still offer growth opportunities as the world smartphone market has become saturated.
Samsung led the Indian smartphone market until it was overtaken in 2017 by China's Xiaomi, which mainly produces low-priced phones. Samsung has since been expanding its lineup of affordable budget phones in an effort to reclaim the top spot.