Samsung Electronics is investing Rs 3,500 crore ($500 million) for establishing a smartphone display manufacturing plant in Noida, a filing to the local regulator by the company has shown. Submitted earlier this month, the investment and its plan in the filing with the Registrar of Companies (RoC) notes that it has allocated some area at its existing factory in Noida to open the new plant. The company could later expand the unit to produce displays for other devices.
According to the disclosures, Samsung India had incorporated a group entity, Samsung Display Noida, whose principal business will be ‘manufacturing, assembling, processing and sales of displays (including their parts, components and accessories) for all types and sizes of electronic devices.’ This will help Samsung Display, the display manufacturing unit of the South Korean giant, increase its production. The first phase is likely to become operational this year.
Samsung has already invested a lot in India. In 2017, the company announced an investment of Rs 4,915 crore to double the capacity of its Noida plant. A year later, it started its mobile phone manufacturing facility, which is claimed to be the world’s largest mobile factory. The company started manufacturing phones in India since 2007, and has been populating Printed Circuit Boards (PCBs).
Apart from mobile phones, the company already manufactures refrigerators, washing machines and other consumer electronics at its Noida facility which is spread over 129,000 square metres. Samsung has another manufacturing unit in Sriperumbudur (near Chennai), five R&D centres and one design centre. XiteTech has reached out to Samsung for comment, and we will update the story with the same.