A report by Economic Times says that Samsung Display has started making smartphone display panels in India. The company, which is a Display arm of Samsung, already makes more than 70% of displays for TVs, mobiles, tablets, etc. in Asian countries like China, Vietnam, and South Korea.
Citing people familiar with the matter, the report says that South Korean giant has started making smartphone display panels at a facility in Noida, UP, from April 2021. This move is said to offer jobs to 500 people directly and to about 1,300 people indirectly.
This comes months after reports of India offering financial incentives to Samsung for setting up a Display factory in Noida, Uttar Pradesh. Indian govt has been taking a lot of measures to ensure the country remains a Manufacturing hub of the world.
The South Asian country recently approved a $1.02 billion incentive to boost local manufacturing and reports say that it is also mulling chip makers to start local production. Anyway, the Samsung Display has invested about 4,825 Crores INR(~$653 million) for the relocation of mobile and IT display production units from China to India.
Samsung will get about 250 Crores INR from the state UP govt as financial provisioning for this project for 5 years and about 460 crores INR from the Centre’s Scheme for Promotion of Manufacturing Electronic Components and Semiconductors.
Speaking of production, Samsung is said to expand this display making to other peripherals like monitors and other IT products in the future. This move is a step forward in boosting local production, make in India initiative, and benefit from the PLI scheme too.
The company is said to be the only one of the 15 approved handset makers to have met the targets for the PLI scheme 2020-2021. Apparently, the target was making mobile phones with an invoice value of INR 15,000 (around $200).
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