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Samsung Electronics has decided to open the world's largest manufacturing plant in India. The ceremony was attended by Prime Minister Narendra Modi and South Korean President Moon Jae-in. The factory will be the largest in the world and will have the capacity to produce up to 120 million phones a year. It will be located in Noida, in the state of Uttar Pradesh. The decision to expand the existing operations came after the "Made In India" initiative of the Indian government. Recently, Apple also decided to launch the production of the iPhone 6 in India
The Indian market is one of the most important markets in the world. It has a total of 425 million people using a smartphone. India is the second largest smartphone market in the world. The figure of expected smartphone users will increase to 700 million by 2021. The growth rate is in line with the Indian market which saw a 14% increase in shipments last year. Samsung said the factory will produce a large number of smartphones, from budget-priced phones near $ 100 and will go up to the flagship models.
The Indian market is very price sensitive. That's why Samsung wanted to meet the demand of its customers by increasing their production capacity instead of importing them. Samsung is the leading smartphone maker in the world and this move will be a good boost for the Indian economy.
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