Samsung to open world's largest smartphone factory

Samsung to open world's largest smartphone factory

Samsung's Galaxy S9

Samsung Electronics will open the world's largest mobile phone factory in India, in a win for Prime Minister Narendra Modi's flagship program to lure investors to manufacture in the South Asian nation.

The factory will be inaugurated by Modi and South Korean President Moon Jae-in at 5pm local time. Both leaders are visiting the facility adjoining New Delhi, according to India's ministry of external affairs.

Smartphone makers from Xiaomi to Oppo Mobiles are building factories in the world's fastest-growing market for the product bolstering Modi's push to encourage overseas investors to “Make in India”. Asia's third-largest economy attracted the record foreign direct investment in the past year with inflows totaling US$62-billion.

Such a large facility will help Samsung cater to the huge demand in a country of 1.3 billion people where there are only 425 million smartphone users

“The opportunity is just massive,” said Faisal Kawoosa, who heads new initiatives at researcher CMR. “Such a large facility will help Samsung cater to the huge demand in a country of 1.3 billion people where there are only 425 million smartphone users.”

India's smartphone market grew 14% with total shipments of 124 million units in 2017, the fastest pace

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