Samsung is reportedly lining up an investment of $500 million for a smartphone display manufacturing plant in India.
According to Reuters, a regulatory filing by Samsung India Electronics indicated plans to loan the display facility INR35 billion ($492 million) in addition to providing it with real estate in Noida with a total value of INR920 million.
Samsung, which is the world’s largest smartphone vendor, is increasingly looking to manufacture devices in the markets where they will be sold – particularly after it shuttered all production in China in October 2019.
The vendor first began manufacturing in India in 2018, and is looking to boost its efficiency while avoiding Chinese competition by leaning more heavily on facilities in markets such as India and Vietnam.
According to data from IDC, Samsung was India’s second-largest smartphone vendor in Q3 2019, although its market share had dropped from 22.6% to 18.9% year-on-year, with shipments down 8.5% to 8.8 million.