HomeNewsSamsung to make India its export hub

Samsung to make India its export hub

Samsung closed its last plant in China sometime back and has been manufacturing mobile phones in India since 2007

Samsung has been making smartphones in India for quite some time now and plans to scale by its manufacturing in India. The development is on the expected lines as Samsung has been regularly pumping in investments in the country and had welcomed Prime Ministers call for Make India move.

The smartphone giant has already talked to the Indian government about the plans of manufacturingsmartphones worth more than $40 billion over the next five years. The company has also saidmost of its phones that cost more than $200 will be exported to other major countries of theworld.

It may be recalled, Samsung closed its last plant in China sometime back andhas been manufacturing mobile phones in India since 2007. In 2018, it has a set a target of doubling thecapacity for mobile phones manufacturing in Noida unit from 68 million units a year to 120 million units a year, in a phase-wise expansion that was expected to finish this year. Since its entry into India in 1995, Samsung has set up two factories, in Noida and Sriperumbudur, five R&D centres and one design centre.

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Around 50% of Samsung’s phones are manufactured in Vietnam making it Samsung’s second-largestsmartphone manufacturing plant after China. The company is also slowly trying to move out ofSouth Korea due to high labour costs.

In FY18-19, co’s India revenue was around $10b and 75% of it came from smartphones. According to industry body India Cellular & Electronics Association’s estimates, a smartphone priced $200 at factory price sells for over $300, depending on the brand. Such phones constitute 20% of the smartphone market in value and under 10% by volume.

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