Samsung says may invest $500 million to set up display factory in India

guest · Jan 21, 2020

Samsung says may invest $500 million to set up display factory in India
January 20, 2020
https://in.reuters.com/article/us-s...set-up-display-factory-in-india-idINKBN1ZJ0GF

South Korean flat screen maker Samsung Display plans to set up a factory in India with a $500 million investment as parent Samsung Electronics Co Ltd seeks to expand smartphone production there, a regulatory filing showed.
The move would be a boon for India which is vying with nearby rivals such as Vietnam to attract global smartphone firms under the government’s “Make in India” drive.

Last year, it stopped production in China where it had to contend with competition from domestic rivals.
The new display factory will help Samsung Electronics secure local supplies of one of the most expensive smartphone components at a time when the South Korean firm is also struggling to fend off competition from Chinese rivals in India.

Samsung, the second-biggest smartphone vendor in India after China’s Xiaomi Corp, saw its market share fall to 20% in the country in the third quarter, from 25% three months earlier, showed data from researcher Counterpoint.
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Samsung says may invest $500 million to set up display factory in India

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