Looking back at how Samsung started operations in India, it was in 1997 that the company initiated churning out televisions which were followed by refrigerator production in 2003. Before the launch of the Noida plant Samsung was manufacturing 67 million phones in India, mostly at its other base in Tamil Nadu, Southern India.
As a result of the latest investment in the Noida factory, the production capacity of smartphones is expected to rise to 12 million units a month from the existing 5 million. Out of 120 mobile factories, 50 are in Noida only.
Addressing the gathering, Moon hoped that with the completion of the plant, there will be more jobs for Indians. The mentioned plant will double the smartphone production.
The company is now making 67 million smartphones in India and with the new plant being functional, it is expected to manufacture almost 120 million mobile phones.More news: U.S. service member killed in apparent insider attack in Afghanistan
According to an article in the Diplomat magazine's website, "During the (2017 presidential) election campaign, Moon pledged that he would elevate ties with India to the level of Korea's relations with the four major powers in and around the Korean Peninsula-China, Japan, Russia and the United States". He said the factory would give over 35,000 jobs directly and indirectly and hence the UP Government ensured that the unit got the infrastructure and policy help it needed. During the visit, Moon will also meet President Ram Nath Kovind, who will host a banquet in his honour.
During their visit, the two leaders listened to a few of Mahatma Gandhi's favourite bhajans sung by classical singer Vidya Shah.The South Korean President is on a three-day visit to India, having arrived in New Delhi on Sunday evening.
The factory will be inaugurated by Indian Prime Minister Narendra Modi and South Korean President Moon Jae-in today at 5pm local time. "Both the policies will come to completion when prosperity spreads across the whole of Asia".
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.