Make in India: Samsung to manufacture its mobile phone displays in India; invests Rs 3,500 crore

Samsung India, which has the second-highest smartphone market share following Xiaomi, is investing $500 million (Rs 3500 crore) over a three-year period to make smartphone displays in India by setting up a manufacturing plant in Delhi’s satellite city Noida, revealed regulatory filings. The loan is given for “utilisation towards its principal business activities, including to meet the investment and working capital requirements for the purposes of establishing its manufacturing unit in Noida,” the RoC document read. The India arm Samsung India Electronics has also transferred a part of its land parcel at Noida plant located in Sector 81 to Samsung Display Noida at a consideration of Rs 92.02 crore.