Samsung To Invest $296 Million In India Expansion Noida Plant To Double Manufacturing Capacity

Samsung Electronics is planning to invest $296 million over the next three years so it can double its manufacturing power in India amid fears of sales slowing down in today’s fast-growing smartphone industry.

Samsung India Electronics has signed a memorandum of agreement with the state government of Uttar Pradesh to expand a factory in Noida that is known to make televisions, refrigerators, mobile phones, split-type air conditioners and washing machines.

“In line with our commitment to ‘Make in India’ … we are pleased to receive the Uttar Pradesh Government’s approval to invest in the state and expand our manufacturing base here in India,” said Samsung India President and CEO HC Hong.

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