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Samsung to Turn India into Hub for Components Business

Samsung to Turn India into Hub for Components Business

With the government’s thrust on ‘Make in India’, where tax on imported mobile and consumer electronics components is going up, Samsung sees a big business opportunity in manufacturing them in the country. The Korean company plans a fresh investment of $350 million  initially in this business and will ramp up as required.

Samsung has set up two new component manufacturing entities in India: Samsung Display Co for mobile phone displays and Samsung SDI India for the production of lithium-ion batteries. Samsung Display signed a memorandum of understanding with the Uttar Pradesh government to build a $200 million plant in Noida. The facility will be operational by April 2020.

Samsung’s venture capital arm — Samsung Venture Investment Corp — has set up operations in India to fund startups in electronics hardware or software businesses. The component companies will supply products to both Samsung India and other smartphone vendors who currently source components from Samsung’s overseas operations.

Inauguration of Samsung Mobile Factory
Inauguration of Samsung Mobile Factory

“Samsung’s investments on component manufacturing in India will eventually overtake that of the finished product, since these are capital intensive projects and more Samsung component entities are keen on making in India,” said a company executive.

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