Samsung, the South Korean giant, has a display manufacturing arm named Samsung Display. Now, the company is looking to set up and invest in a display manufacturing plant in the state of Uttar Pradesh in India.
As per the report, the company could be investing up to $705.75 million to set up the facility. It is also expected to create around 1,300 jobs. Samsung will get tax benefits and other incentives from the Indian government for setting up the display plant.
This new facility from the world’s largest smartphone OLED panel maker is expected to begin operations at the upcoming plant in Noida. The report adds that Samsung could relocate some of the manufacturing done in China to India.
It’s noteworthy that Samsung is currently operating the world’s largest smartphone in Noida, Uttar Pradesh, India. Satish Mahana, the industrial minister for the state of Uttar Pradesh, said that incentives were under discussion and that no decision has been taken.
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Samsung Display currently has three OLED plants in China, nine plants in South Korea, and one plant in Vietnam. The company has already announced that in order to focus on OLED and QLED, it will exit the LCD business.
The Indian government has been trying to attract companies to start manufacturing in India under its “Make In India” initiative by offering tax incentives. With China being the center of issues, India is in a good position to attract companies for setting up plants in the country. Still, it faces competition from the likes of Vietnam, Indonesia, and Thailand.
Meanwhile, Samsung Electronics is facing a threat from the Chinese giant Huawei in terms of smartphone sales. As per the report from Counterpoint, in April 2020, Huawei surpassed Samsung to become the world’s leading smartphone brand, that too, despite being banned by the United States.
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(Via)
