PM Modi, South Korean President Moon Jae-in inaugurate Samsung Centre

PM Modi, South Korean President Moon Jae-in inaugurate Samsung Centre

PM Modi, South Korean President Moon Jae-in inaugurate Samsung Centre

The factory opening attracted some notable guests, including Indian Prime Minister Narendra Modi and South Korean President Moon Jae-in.

Currently, Samsung manufactures over 60 million smartphones annually in India and with the new plant, it is expected to manufacture almost 120 million mobile phones.

The new Samsung factory will have the capacity to fabricate 120 million smartphones per year, and make everything from low-end smartphones that cost under $100 to the company's flagship S9 model.

Samsung Electronics has opened what it is calling the world's largest mobile phone manufacturing facility.

"Now we need a turning point in our economic cooperation with India and Asean countries", Mr Kim said.

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"We are aligned with government policies and will continue to seek their support to achieve our dream of making India a global export hub for mobile phones", said HC Hong, Chief Executive Officer, Samsung India.

Modi said Samsung will export 30 per cent of the handsets made in Noida to other markets.

While Modi's "Make in India" campaign is still a long way from delivering on ambitious job promises, the program has had some success with the phased manufacturing of mobile devices and components.

Speaking on the occasion, the South Korean President said the new Samsung unit will provide jobs to local people.

"Whenever I talk to business community representatives I always mention one thing - that I don't think there is a middle class home in India where a Korean product is not found", he added.

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Right now, Samsung manufacturers 67 million smartphones in India.

Samsung's digital display technology uses augmented reality to help fast food restaurants enhance their customer experience by predicting what a person is going to order as they approach the menu.

As of now, Samsung has two manufacturing units in India: Besides Noida, they have a unit in Sriperumbudur, Tamil Nadu and 5 research and development centres.

According to International Data Corp, India's smartphone market grew 14 percent past year to 124 million units, the fastest rate of growth among the top 20 markets. India is a big opportunity across price segments, including 2G feature phones.

Trade minister Suresh Prabhu invited Korean investment in areas such as manufacturing, services, agriculture and food processing, stating that India was looking at setting up a special economic zone for Korean companies alone. A bigger manufacturing plant, spread over 129000 sq. metres, will help Samsung meet the growing demand.

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