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Samsung invests $500M to set up a smartphone display plant in India – TechCrunch

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Samsung, which once led India’s smartphone market, is investing $500 million in its India operations to arrange a producing plant on the outskirts of New Delhi to provide shows.

The corporate disclosed the funding and its plan in a submitting to the native regulator earlier this month. The South Korean big mentioned the plant would produce shows for smartphones in addition to a wide-range of different electronics units.

Within the submitting, the corporate disclosed that it has allotted some land space from its present manufacturing unit in Noida for the brand new plant.

In 2018, Samsung opened a manufacturing unit in Noida that it claimed was the world’s largest mobile manufacturing plant. For that manufacturing unit, the corporate had dedicated to spend about $700 million.

The brand new plant ought to assist Samsung additional enhance its capability to provide smartphone elements domestically and entry a variety of tax advantages that New Delhi affords.

These advantages would come in useful to the corporate because it faces off Xiaomi, the Chinese language smartphone vendor that put an end to Samsung’s lead in India.

Samsung is now the second largest smartphone participant in India, which is the world’s second largest market with practically 500 million smartphone customers. The corporate in current months has also lost market share to Chinese brand Realme, which is poised to take over the South Korean big within the quarter that resulted in December final 12 months, in response to some analysts.

TechCrunch has reached out to Samsung for remark.

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