Samsung, South Korea has announced an investment of $500 million in its India operations to set up a new manufacturing facility in Noida, UP. The company at a new facility would produce displays for smartphones and other electronics devices as per Indian electronic market demand.
In 2018, Samsung had opened the worlds largest mobile manufacturing plant in Noida, UP, at the cost of approximately $700 million. The recent announcement by the company should help Samsung further strengthen its capacity to produce smartphone components locally. The company is the second-largest smartphone player in India.
The recent investments and deals by Samsung are mentioned below:
- January 2020: Samsung Electronics has agreed to acquire Virginia based TeleWorld Solutions (TWS), a leading network services provider in the Americas. TWS is involved in network design, OEM, testing, and optimization services to mobile service and cable operators across the USA.
- October 2019: Samsung Electronics announced a partnership with leading contactless mobile card payment acceptance company Mobeewave to deploy NFC-enabled contactless payment acceptance on mobile devices worldwide. Both partners will deploy mPOS payments worldwide.
- August 2019: Samsung announced a long-term, strategic partnership with Microsoft to bring seamless productivity experiences across applications, devices, and services. The partnership will continue to expand as Samsung and Microsoft leverage cloud computing and advanced intelligence to deliver rich mobile experiences to market in the 5G era.
- May 2019: Samsung Electronics had signed an expansion contract with South Korea’s telephone company KT Corporation to provide public safety (PS-LTE) network solutions based on 3GPP standard Release 13 for 10 major metropolitan regions in South Korea including Seoul by 2020.
- April 2019: Samsung Electronics announced that it would invest $116 billion by 2030 to strengthen its competitiveness in System LSI and Foundry businesses. The companys investment plans will create 15,000 jobs in R&D and production to bolster its technological expertise. The companys expansion plan is also expected to help the company to reach its goal of becoming the world leader in not only memory semiconductors but also logic chips by 2030.
About Samsung Electronics
Samsung is a world leader in consumer electronics & advanced semiconductor technology. The company was founded in 1969 at Suwon, South Korea. The company is now managing more than 200 subsidiaries.
Samsung Electronics, a global information technology leader. has more than 216 global bases in around 74 countries of the world, and the company has approximately 310,000 employees globally. The company offers a broad range of products that includes home appliances such as TVs, monitors, refrigerators, and washing machines as well as key mobile telecommunications products like smartphones, bluetooth devices, and tablets. Samsung also provides key electronic components like DRAM and non-memory semiconductors.
Samsung is committed to delivering quality products and services around the globe to enhance the convenience and foster smarter lifestyles for its customers. The companys research and development team works continuously to improve the global community through ground-breaking innovations and value creation products.