The South Korean smartphone giant Samsung has announced a massive investment in India near the country’s capital.
In its filing to a local regulator, the company mentioned about its USD 500 million investment for a manufacturing plant outside New Delhi.
The plant will display a range of smart phones and other electronic products.
Earlier in 2018, the company had announced USD 700 million investment for its world’s largest manufacturing plant in Noida.
Now, the new plant is expected to add more benefits to Samsung’s India market, giving it more tax advantages that the capital city offers.
These benefits are also coming at a time when the company is facing a tough competition from its market rivals, especially China’s Xiaomi that is on full swing across India.
Samsung currently stands second in the Indian smartphone market that has around 500 million end-users.
However, analysts say that the company lost some of its shares to the Chinese player Realme and raised chances of getting acquired by the latter in the last quarter that ended December 2019.
The new announcement is exactly coming at this juncture, offering due boost to the company’s India operations.