Samsung invests 500 million to build new plant in India to produce mobile phone screens

On the morning of January 20, Beijing time, according to foreign media reports, Samsung, which once led the Indian smartphone market, was planning to invest $ 500 million in Indian business to build a manufacturing plant in the suburbs of New Delhi to produce displays.

Samsung filed a document with local regulators earlier this month. The documents disclose the company's investment and future plans. Samsung said the new plant will be used to make screens for smartphones and other a wide range of electronic devices.

The documents also show that the company also allocated part of the land area of Noida's existing plant to the new plant.

In 2018, Samsung plans to invest $ 700 million to open a factory in Noida and claims it is the world's largest mobile device manufacturing plant.

The new plant will help Samsung further improve its ability to locally produce smartphone parts and receive a series of tax benefits from New Delhi. In the face of the rival of Chinese smartphone retailer Xiaomi, these offers are like a timely rain for Samsung.

Currently, Samsung is the second largest smartphone manufacturer in India. Samsung has not responded to a request for comment on the matter. (Mur)