Samsung Eyes Expansion, Planning To Make India Smartphone Manufacturing Hub
Samsung is planning to make India its smartphone manufacturing hub. To this end, it plans to make investments in research and development centers. It is also planning manufacturing facilities to further bolster the competitiveness of its products, the global head of Samsung was quoted as saying in a report in The Economic Times (ET).
The report also quoted TM Roh, head of mobile experience business at Samsung Electronics, as saying, "We have R&D in the centre here. So, for the new innovations, we will continue our investments in this critical area. We will continue our investment to bring optimisation through smart factories to the Noida facilities. It will bring competitiveness in the production."
The South Korean electronics major plans to invest in setting up smart manufacturing capabilities at its second largest mobile phone plant in Noida as it aims to make production more competitive. Roh also said that the company looks at India as a smartphone manufacturing hub and plans to export handsets to other countries. To achieve this, Samsung is working with local partners, the report added.
Roh was quoted as saying in the report, “Samsung India, for a long time, has been focusing on the make-for-India and make-in-India trend. We are not only focusing on meeting the domestic needs, but [would want] also to use India as a hub for exports. From the Noida production facilities, Samsung India is exporting to many countries across the world, and it will continue to do so.”
Samsung works in collaboration with local partners. For example, Samsung gets its feature phones made by a third-party Indian contract manufacturer, ET reported.
Roh told ET that the Indian market is in a phase of transition where users are rapidly shifting from feature phones to smartphones. He further added that within smartphones, the market is shifting from entry-level to mid- and premium-segment handsets. He said that demand for mobile phones priced over $400 is rising, and the trend is expected to continue as the 5G network expands.
ClearBank UK Profit Leads To European Growth
ClearBank has spent much of the past decade building the technology and regulatory infrastructure needed to challenge so... Read more
Bank Of London Continues To Rebuild
ClearBank’s progress shows that modern clearing and banking infrastructure can become a sizeable and profitable busine... Read more
JPMorgan's Berlin Moment: Chase Takes On Europe
There is something quietly symbolic about JPMorgan Chase choosing Berlin as its gateway into continental Europe. In a fo... Read more
What Strategy's Bitcoin Sale Really Tells Us
There is a moment in every bull run when the narrative starts to fray. Not with a crash, not with a scandal, but with so... Read more
Coutts Sets Scope On New Continent
Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more
From Cypherpunk To Citadel
How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more