Samsung, which once led the Indian smartphone market, is investing $ 500 million in its operations in India to establish a manufacturing plant outside New Delhi to produce screens.
The company revealed the investment and its plan in a presentation to the local regulator earlier this month. The South Korean giant said the plant would produce screens for smartphones, as well as a wide range of other electronic devices.
At the presentation, the company revealed that it has assigned a land area of its existing factory in Noida for the new plant.
In 2018, Samsung opened a factory in Noida which, it claims, was the largest mobile manufacturing plant in the world. For that factory, the company had pledged to spend around $ 700 million.
The new plant should help Samsung further increase its capacity to produce smartphone components locally and access a range of tax benefits offered by New Delhi.
Those benefits would be useful for the company, as it faces Xiaomi, the Chinese smartphone seller that ended Samsung’s leadership in India.
Samsung is now the second largest smartphone player in India, which is the second largest market in the world with almost 500 million smartphone users. The company in recent months has also lost market share with the Chinese brand Realme, which is about to take over the South Korean giant in the quarter that ended in December last year, according to some analysts.
TechCrunch has contacted Samsung for comments.