Samsung plans to set up a new plant in Noida, here’s how much its worth | Tech News

Samsung plans to set up a new plant in Noida, here’s how much its worth

Samsung Display filed an investment plan with India’s regulator earlier this month, saying the plant in Noida, near New Delhi, would produce smartphone displays.

By: INDO ASIAN NEWS SERVICE
| Updated on: Aug 20 2022, 19:01 IST
Visitors walk past the Samsung Electronics Co. booth at the World IT Show 2012 in Seoul, South Korea.
Visitors walk past the Samsung Electronics Co. booth at the World IT Show 2012 in Seoul, South Korea. (Bloomberg)

Samsung Display, South Korea's major display panel maker and an affiliate of Samsung Electronics, plans to invest $500 million in India to set up a manufacturing unit.

According to US tech media outlet TechCrunch, Samsung Display filed an investment plan with India's regulator earlier this month, saying the plant in Noida, near New Delhi, would produce smartphone displays.

You may be interested in

MobilesTablets Laptops
11% OFF
Samsung Galaxy S24 Ultra
  • Titanium Black
  • 12 GB RAM
  • 256 GB Storage
5% OFF
Samsung Galaxy A25 5G
  • Blue Black
  • 8 GB RAM
  • 128/256 GB Storage
10% OFF
Samsung Galaxy A15 5G
  • Blue Black
  • 6/8 GB RAM
  • 128/256 GB Storage
39% OFF
Samsung Galaxy A03s
  • Black
  • 3 GB RAM
  • 32 GB Storage

Samsung Display officials in South Korea confirmed that the company was preparing to set up a plant there, but declined to comment on the scale of investment, Yonhap news agency reported on Monday.

Also read
Looking for a smartphone? To check mobile finder click here.

Last year, the company set up its India arm Samsung Display Noida Private Ltd.

In 2018, Samsung Electronics opened a smartphone manufacturing plant in Noida to expand presence in the world's second-largest mobile phone market, after China.

Industry insiders said Samsung Displays' new plant would help its parent company secure smartphone display panels at cheap prices and boost productivity.

In India, Samsung Electronics has been in a fierce competition with Chinese rivals. According to data from market researcher Counterpoint, Samsung Electronics is the second-largest smartphone vendor behind China's Xiaomi Corp in India.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 20 Jan, 19:28 IST
NEXT ARTICLE BEGINS