Electronic enthusiasts eight o'clock: According to foreign media reports, South Korea's Samsung Electronics announced on Wednesday that it will invest about 760 million US dollars to double its mobile phone and refrigerator production capacity in India. Samsung Electronics is the world's largest smartphone manufacturer, and India's importance is self-evident.
Samsung Electronics will expand its plant in Noida, near the Indian capital of New Delhi, highlighting the importance of the Indian market. In India, Samsung Electronics is competing with Apple in the US and a large number of cheap handset manufacturers in China and India.
India is one of the few markets in the world that still has strong growth prospects, and Samsung Electronics' investment may help it reduce production costs in the country.
India is expected to soon surpass the United States and become the world's second largest smartphone market after China. According to market research firm Counterpoint, Indian smartphone shipments grew 18% last year, while global smartphone shipments grew only 3%.
Last month, Apple began issuing a small number of cheaper iPhone SEs produced in Bangalore, India.
According to IDC, another market research organization, Samsung Electronics is currently a leader in the Indian smartphone market, accounting for about 24% of the market, followed by China's Xiaomi and Lenovo.
Analysts said Apple's market share is only 3%. However, Apple, which is a high-end brand, is paying more attention to the Indian market.
HC Hong, CEO of Southwest Electronics, said in a statement that a larger manufacturing plant will help the company meet the growing demand for its products across India.
Samsung Electronics began producing electronic devices in India in the early 1990s, but mobile phone production began in 2005.
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