Samsung Opens World's Largest Phone Factory

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South Korea's President Moon Jae-in speacks during the inauguration of the world's largest mobile factory at the Samsung India electronics private limited in Noida on July 9, 2018.

South Korean conglomerate Samsung Electronics Monday inaugurated what it said is the world's largest mobile factory that will have a capacity of 120 million handsets a year - almost double the current 68 million - under a phased expansion by 2020.

Stating that Korean products can be found in nearly all middle-class homes, he said Samsung is a world leader in the smartphone market. South Korean investments in India amount to $4.64 billion between 2000-2017 with Kia Motors announcing a $1.1 billion investment to set up a manufacturing unit in Andhra Pradesh.

"Cheaper mobile phones, high-speed internet, and cheap data are ensuring fast and transparent service delivery", he said.

It now has a total of six factoriesthat it says can produce two smartphones every second.

PM Modi along with South Korean president Moon Jae-in will be inaugurating the facility in Noida at 5 pm Monday.

Moon will hold talks with Modi on Tuesday during his four-day visit, which India expects would open new avenues for expanding the bilateral partnership, particularly in the economic domain.

"Samsung's small and mid-sized suppliers can leverage the opportunity and create more jobs for Indians...2,000 new jobs will be generated in this plant", Mr Moon said, adding the Korean government will provide all necessary support in this journey. Over 30 per cent of the production at Samsung's Noida manufacturing facility will be exported.

The 35-acre Samsung Electronics facility in Noida sector 81 was added in 2005, and in June past year, the South Korean giant had announced Rs 4,915 crore investment to expand the Noida plant to double the production. The launch of the Samsung plant is a part of PM Modi's "Make In India" campaign.

In 1997, the plant started manufacturing televisions, and in 2003, expanded to manufacturing refrigerators.

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

CNN-News18 (formerly known as CNN-IBN) has been the world's window to India and India's window to the world. "India is going through digital transformation and I encourage more companies from South Korea to come and invest here", Modi noted. India has around 40 crore smartphone users and almost 32 crore people use broadband.

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