Noida will soon get India’s first smartphone display manufacturing unit. Samsung has decided to set up the factory in the outskirts of Delhi, with an investment of more than Rs 3,500 crore.
The South Korean company is planning the plant according to the regulations filed with the Registrar of Companies (RoC). This plant may be later developed to include manufacturing units of other Samsung phone parts, including the PCB, sensors, and battery.
The company’s Indian subsidiary, Samsung India Electronics, has earmarked a plot in Noida for this purpose. A loan of Rs 3,500 crore has been provided to the Indian Samsung division to manage investments and working expenditures. Samsung Display has been allotted the plot for Rs 92.02 crore, according to RoC disclosures. Moreover, the loan has been set for a period of three years.
Veratech Intelligence, a business intelligence platform has disclosed that the Korean juggernaut has incorporated a group entity, named Samsung Display Noida for the purpose. In Veratech’s own words, the entity has been established “with the principal business of manufacturing, assembling, processing and sales of displays (including their parts, components and accessories) for all types and sizes of electronic devices.”
Over 5 years down the line, Samsung Display Noida could be used to produce televisions, laptops, and their individual parts. The manufacturing unit is likely to be opened in April this year.
Industry experts, including Veratech Intelligence founder Mohit Yadav suggest that it’s a great step taken in the direction of ‘Make in India’. Samsung is confident of its consumers and subjects in India, which influenced it to take such a big step. This also means an increase in consumption of Samsung’s goods in India.
A few news portals had already predicted a Samsung plant in India. There were also rumors of Samsung SDI India, yet another division of the Korean company, preparing for local smartphone battery production.