Samsung Sets Up Smartphone Display Manufacturing Unit In Noida
- 3 years ago
Samsung, back in early 2020 had announced that the company would begin seting up a $500 million mobile display manufacturing plant in India. Howeverue to the impact of COVID-19 pandemic, the company has postponed it and the planned workforce was sent back to South Korea to complete the pending work.
Now, almost after an year, Samsung has started making smartphone display panels in India.
As per the report by The Economic Times, Samsung has already started manufacturing the smartphone display panels in India earlier this month. The plant is located in Noida, Uttar Pradesh and it will produce employment opportunities to nearly 500+ people and offer 1,300 jobs.
At present, Samsung is preparing 70% of the display panels in its home country (South Korea). However, it will be reduced shortly as the company is improving the display panels production in India day-by-day.
Samsung has invested INR 4,825 crore to move it’s manufacturing plant from China to India. However, the company will get INR 460 crore from the government under the Government of India’s Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).
Interestingly, Samsung is the only company in India which has met its targets under the governments (PLI) scheme for Financial Year 2020-21. The other fifteen (15) companies like Apple, Foxconn, Wistron, etc, have wrestled a lot to reach their targets and asked the government to extend the deadlines.
Speaking to The Economic Times, Tarun Pathak, associate director at Counterpoint Research said, "The move will give confidence to smaller players in the broader display ecosystem to come to India and set up operations. Samsung is one of the largest players. It gives a signal to the overall supply chain that this component is ready for manufacturing."
Source: Mashable India
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