Samsung is setting up India's first smartphone display manufacturing unit on the outskirts of Delhi.
The South Korean company is investing more than Rs 3,500 crore in this facility in Noida, as per a regulatory filing with the Registrar of Companies (RoC). It could later be expanded to manufacture displays of other devices as well.
The chaebol’s flagship India entity, Samsung India Electronics, has transferred a plot to a group company, Samsung Display, in its existing manufacturing plant area and has given a loan of Rs 3,500 crore to meet the investment and working capital requirement for establishing the production unit.
As per the regulatory disclosures, sourced from business intelligence platform Veratech Intelligence, Samsung India said it had incorporated a group entity, Samsung Display Noida, “with the principal business of manufacturing, assembling, processing and sales of displays (including their parts, components and accessories) for all types and sizes of electronic devices.”
Source: Economic Times