Back in July last year, reports revealed that Samsung was planning on cutting 1,000 jobs in India due to peer pressure from Chinese rivals. However, the company quickly refuted the claims calling them “speculative” and “misleading”. In a statement regarding the reports, Samsung also revealed that it was committed to India and had plans to continue investing significantly across businesses. It seems like Samsung is sticking to its word as a recent report from Reuters reveals that the company is now planning to set up a display factory in India.
According to the report, a recent regulatory filing suggests that Samsung Display is planning to set up a factory in India with a $500 million investment as parent company Samsung Electronics Co Ltd aims to expand smartphone production in the country. As part of the plan, Samsung Electronics will provide INR 35 billion (~$492.31 million) in loans and transfer a plot of land in Noida for INR 920 million to its display unit. It’s worth noting that Samsung Electronics already has a smartphone manufacturing unit in Noida, on the outskirts of the capital New Delhi, which was set up back in 2018.
The new display factory is expected to help Samsung bag local supplies of displays for smartphones, which is expected to help the company fend off competition from its Chinese rivals. The new display factory might also bring down the cost of displays in India, and if OEMs choose to pass this down to customers, it will further reduce the price of smartphones with Samsung-made displays in India. The regulatory filing from Jan 3 further reveals that Samsung India said it had incorporated a group entity, Samsung Display Noida, “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.” This further suggests that the company might indeed supply smartphone displays to other OEMs in the country.
Source: Reuters, Economic Times
The post Samsung plans to set up India’s first smartphone display manufacturing unit appeared first on xda-developers.
from xda-developers https://ift.tt/2RbrwfW
via IFTTT
No comments:
Post a Comment