Samsung plant will enhance economy, boost India-Korea ties: PM Modi

Narendra Modi

Samsung is set to inaugurate its biggest mobile factory in the world today.

"The Noida plant has now become Samsung's largest smartphone manufacturing unit", Moon said, as the company announced that it planned to eventually manufacture 120 million smartphones a year at the factory.

The Prime Minister, Shri Narendra Modi, and the President of the Republic of Korea, Mr. Moon Jae-in, today jointly inaugurated a large mobile manufacturing facility of Samsung India Electronics Pvt. In just about an year of the announcement, Samsung's Noida plant is all-ready to double production. The new facility is spread over 35 acres in Noida's Sector 81.

The Indian mobile phone market grew by 48% YoY in the first quarter of 2018, driven by strong demand from the featurephone segment.

Giving a thumbs up to his government's Make In India initiative, PM Modi said, "Make in India initiative is getting support from all across the world". Thirty per cent of the mobiles made in Noida are to be exported.

"This INR50-billion investment will not only strengthen Samsung's business ties in India, it will also play a key role in India-Korea relations", Modi said in a speech at the inauguration of the plant.

Not China or South Korea - and certainly not the United States - the tag of housing the world's largest mobile factory has straight away put Noida on top of the world manufacturing map when it comes to consumer electronics.

Samsung expects second-quarter profits to miss analysts estimates
Moreover, a Chinese rumor claims that Samsung SDI is already manufacturing the batteries for the Galaxy X model. The device will employ foldable display panels, which is expected to go into mass production this summer.

"It makes sense for Samsung to build a bigger manufacturing base here", Jaipal Singh, Senior Market Analyst, IDC, told IANS. The capacity increase is in line with Samsung's plans to expand production that will help it compete with its Chinese rivals in the Indian market.

The South Korean electronics giant had past year announced a fresh investment of Rs 4,915 crore to expand the existing plant by another 35 acres.

Announcing the investment a year ago, the South Korean giant said that it would position the Noida plant as a major production hub and create about 5,000 new jobs.

Samsung already has a considerable presence in the US, Korea and Brazil, but with smartphone growth beginning to slow in those markets, the South Korean chaebol has turned its attention towards India - where demand for handsets is more encouraging.

70,000 employees are now working for Samsung, and they are looking forward to expand their offline presence to 1.5 lakh retail outlets.

Mr. Modi pointed out that India is heading towards a digital revolution and now, 40 crore people are using smartphones in the country.

Related:

  • December 16 Gang Rape Convicts To Hang, SC Rejects Review Plea

    December 16 Gang Rape Convicts To Hang, SC Rejects Review Plea

    They can file one last petition with the Supreme Court, and if it's again rejected, they can seek presidential mercy, said A.P. On July 9, 2018 SC will decide the fate of the four accused of death sentence in the Nirbhaya gang-rape case.
    Tropical Storm Beryl Forms in East Atlantic

    Tropical Storm Beryl Forms in East Atlantic

    A faster westward to west-northwestward motion is expected to begin over the weekend and continue through early next week. A tropical wave heading for the Caribbean is now a tropical depression and is headed for the Lesser Antilles.
    Statue of Liberty Climber Speaks Out Against Trump Immigration Policy

    Statue of Liberty Climber Speaks Out Against Trump Immigration Policy

    Cruise operator Statue Cruises said it had to turn away more than 2,000 visitors waiting to take their tour to the famed statue. Park Police for their courtesy and professionalism, but said the government's "draconian policy" on immigration had to end.
  • Bolton Claims US Has Plan to Disarm North Korea Within a Year

    Bolton Claims US Has Plan to Disarm North Korea Within a Year

    I mentioned last week that satellite analysis showed that North Koreans were building up their nuclear research facility. NBC News and the Washington Post reported that North Korean attempts to hide nuclear work.
    Neymar urged to stop acting, win title to get FIFA award

    Neymar urged to stop acting, win title to get FIFA award

    Kompany, goalkeeper Thibaut Courtois, Kevin de Bruyne and Eden Hazard have won the Premier League eight times between them. I just have to play football, help my team, I came to win, not for something else.
    Park's title after 3-way play-off, Latest Football News

    Park's title after 3-way play-off, Latest Football News

    Hull has been a birdie machine this year as she ranks third on Tour in the category. "How hard was it?" I'm wearing a skirt. Lexi Thompson, Danielle Kang and Michelle Wie , who would have made a nice final trio for television, never did get going.
  • North Korea Calls U.S. Diplomatic Posture ‘Regrettable’

    North Korea Calls U.S. Diplomatic Posture ‘Regrettable’

    Nauert said Pompeo's discussions with North Korean officials also included repatriation of American Korean War remains. It said the US side had shown little interest, giving "certain conditions and excuses".
    Dead, Homes Destroyed As Klamathon Fire Rages Out Of Control

    Dead, Homes Destroyed As Klamathon Fire Rages Out Of Control

    The wildfire is burning through drought-stricken timber and brush near California's border with OR , authorities said Friday. In the north, the fire in Siskyou County on the OR border had virtually emptied the tiny communities of Hilt and Hornbrook.
    Key Trump ally Scott Pruitt forced to resign

    Key Trump ally Scott Pruitt forced to resign

    When he started looking into Trump's policies, Wheeler said, "I was fully on board". "I am still not interested in that". That process could take several months - and potentially drag out past this November's midterm elections.
  • Former Pakistan PM gets 10 years for corruption, daughter sentenced to seven

    Former Pakistan PM gets 10 years for corruption, daughter sentenced to seven

    His daughter Maryam Nawaz has been awarded seven and her husband Captain (retd) Safdar one year imprisonment in the case. The case is connection with several high-profile properties brought by the Sharif family in London in mid-1990s.
    Roger Federer vs Jan-Lennard Struff, Wimbledon 2018

    Roger Federer vs Jan-Lennard Struff, Wimbledon 2018

    Third seed Marin Cilic let a two-set lead slip as he was knocked out in the second round of Wimbledon by Argentina's Guido Pella. Serena Williams , the seven-time Wimbledon victor , is seeded 25th after her tentative return from the birth of her first child.
    Woman's Legs Amputated Following Bahamas Boat Explosion

    Woman's Legs Amputated Following Bahamas Boat Explosion

    A GoFundMe campaign to assist with the Schaffer's medical and travel expenses has raised more than $80,000 as of Monday evening. Chester Cooper , a member of parliament for Exumas and Ragged Island, identified the person who died as an American woman.

Comments

Latest news

Trump teases pick for Supreme Court
The person spoke on condition of anonymity because the person was not authorized to discuss the conversation publicly. Dianne Feinstein, D-Calif., questioned Barrett about whether her Catholic faith might color her work on the bench.

Giuliani: No Cohen Concerns 'As Long As He Tells The Truth'
Giuliani also repeated previous assertions that the Mueller investigation is biased. Giuliani reiterated in a text to CNN Monday morning, "the truth will set you free".

Thai Cave Rescue: How Elon Musk's 'Kid-Size' Submarine Could Assist Mission
A family member told CNN Monday that they hadn't been told which boys had been pulled out, and who is still trapped in the cave. According to the Associated Press , a Thai official revealed that the healthiest boys were taken out of the cave first.

Here Are Trump’s Reported ‘Final Four’ Picks for Supreme Court Justice
Without Republican defections, however, Senate rules leave Democrats with scant options to block confirmation of Trump's nominee. Trump insisted he still hadn't locked down his decision, which he wants to keep under wraps until a 9 p.m.

Trade war erupts as China fights back against USA tariffs
Tokyo closed 1.1% higher and European markets were up more than 1% in morning trading before turning negative on Friday afternoon. Trade disputes are nothing new for the two economic superpowers, and they are not confined to targeting each other.

British Police Continue Hunt for Poison Used Against Ex-Spy
A Wiltshire police spokeswoman declined to confirm whether the couple were believed to have been poisoned. Britain blames Russian Federation for the assassination attempt, but Moscow denies any involvement.

Oil holds near $74 as Trump lambasts OPEC to temper price surge
If so, such a boost would be significant for the country's oil production, which hit 10.03 million barrels per day (bpd) in May. Iranian OPEC Governor Hossein Kazempour Ardebili claimed Thursday Trump's tweets are putting upward pressure on prices .

Croatian player addresses Ukrainians after knocking Russian Federation out of World Cup
Croatia defender, Domagoj Vida , is facing possible disciplinary measures for posting a video, dedicating the victory to Ukraine. Argentina and Portugal were both knocked out of Russa 2018 in the Round of 16.

Trump to Unveil Court Pick Monday
Thapar, 49, a Cincinnati-based federal appeals court judge, was among the first four candidates interviewed by Trump on July 2.

Thai Navy SEALs use Facebook for nail-biting updates on cave rescue mission
Authorities in northern Chiang Rai province began the risky mission to bring out the 12 boys and their coach earlier on Sunday. Expert divers worked together to rescue guide the boys out through the narrow passageways of the cave.

Defending champ sets record by eating 74 hot dogs
However, first he'll have to battle out last year's runner-up Carmen Cincotti , who scarfed down 60 in 2017. According to Major League Eating , Chestnut is ranked number one in the world for competitive eating.

Why Brazil vs. Belgium Could Be the 'Best Game of the Tournament'
However, Brazil did beat Belgium in the 2002 World Cup Round of 16 en route to its fifth, and most recent, world championship. Invariably the link-man for De Bruyne at City, Fernandinho will look to quell the 27-year-old's influence at the Kazan Arena.

Tennis Star Is 'Mrs. Williams' to Wimbledon, if Not to You
But again, I got the sense that it was a matter of years, if not months before she's going to be a champion . This year 20 women are listed under "Mrs.", according to a document provided by the WTA.

Malaysia: Ex-PM Najib Razak given bail after pleading not guilty
He has told the public not to believe the reports saying: "I have not had a chance to defend myself". Some members of Najib's UMNO party chanted and held up placards in support of their former leader.

Wildfire sweeps across northern Bay Area, claiming more than 44,000 acres
Stragglers trying to enjoy the area, despite an evacuation order, were driven out by the smoke and CalFire's admonishments to leave.

Other news