Make in India: Samsung to set up third manufacturing plant in India

[IndoCarib]

It was before Microsoft took over Nokia.. It was shutdown due to some legal battles over tax.. Now I think its being resolved.

I heard Micromax wants to buy that plant

 

[Donatello]

It was before Microsoft took over Nokia.. It was shutdown due to some legal battles over tax.. Now I think its being resolved.

Yea but now Nokia doesn't exist, it is Microsoft, considering the amount of handset market share that Nokia lost in the last 10 years, i am not sure if they are willing to open factories anywhere in the world, let alone one which got embattled by Government in India.

 

[Iggy]

Yea but now Nokia doesn't exist, it is Microsoft, considering the amount of handset market share that Nokia lost in the last 10 years, i am not sure if they are willing to open factories anywhere in the world, let alone one which got embattled by Government in India.

I heard Micromax wants to buy that plant

PM Narendra Modi’s Nokia plant push hints at end to tax wrangle | The Financial Express

Most probably the plant will reopen.. Their latest lumia phone is finding customers here in India..

 

[ashok mourya]

View attachment 199759


NEW DELHI: Samsung Electronics is considering setting up its third manufacturing plant in India, a move that would consolidate the South Korean company's hold on a key market and provide a big push to the government's 'Make in India' campaign. The company, among India's largest multinationals, is scouting for land in Uttar Pradesh, Tamil Nadu and Gujarat for a new plant to make electronic goods, including smartphones, people familiar with the matter said.

A Samsung spokesperson confirmed the company's plans. "Samsung Electronics sees India as a very important market. Being a leading player in the consumer electronics and durables business and India's biggest television and smartphone manufacturer, we are committed to the idea of 'Make for India'," the spokesperson said.

He declined to comment on investment details. "However, we can confirm that we are in talks with state governments, including the government of Uttar Pradesh, where we have a factory already." One of the people said Samsung mobile division chief JK Shin recently visited India to discuss the new plant, adding that the company may invest $500 million to $1 billion, depending on the size of the land and other modalities. "It may even look to export from the plant at a later stage," the person said.

A senior Uttar Pradesh government official told ET on condition of anonymity that Samsung executives have held meetings to discuss the possibility of setting up a new manufacturing facility in the state.

The Korean giant has also approached Gujarat and Tamil Nadu, although talks are progressing quicker in Uttar Pradesh. The company signed a memorandum of understanding with the UP government in January to expand its electronics and phone making plant in Noida with an investment of Rs 517 crore.

Samsung, in India for 20 years, has two factories -- in Noida and Tamil Nadu, where it makes 90% of the handsets it sells in the country -- and three R&D facilities. It employs some 45,000 employees.

Smartphones have emerged as its biggest revenue generator, contributing over 60% of its top line, although the segment is under severe pressure in India as well as globally.

Analysts say local production would give Samsung a cost advantage and provide scale and velocity to respond to demands of the Indian handset market, the second-fastest growing in the world, as the company takes advantage of the government's sops to push domestic manufacturing.

Late January, Samsung reported a 23% decline in profit to 23.4 trillion won ($21.2 billion) in 2014, its first annual earnings drop in three years, dragged by falling sales of its smartphones under pressure from the likes of Apple and China's Xiaomi. This forced the company to freeze salaries in 2015 for employees in South Korea for the first time in six years. The company had cash of 61.8 trillion won ($56 billion) at the end of December.

While analysts are sceptical of any turnaround in its handsets business as margins remain under pressure, they are betting on improved performances of components such as chips and panels.

Source: Make in India: Samsung to set up third manufacturing plant in India - The Times of India

post in indian defence section

 

[TimeTraveller]

post in indian defence section

Sorry Sir.....Actually a long time had passed but i still don't know about many things on this forum....I thought Economy And Development Forum is same for all countries ....Sorry.....

 

[itachiii]

Any news about Nokia plant in Tamilnadu, Has Microsoft taken over?

flipkart director in a pre placement talk in our college said that they along with chinese xiaomi are planning to buy this plant in order to manufacture there phones in India..

 

[WAR-rior]

It's called economics.Nokia phones have been selling so well that the factory could have run eternally. If you didn't notice, even today MS OS phones is dying a brutal and gut wrenching death. I'm sure that congress should be faulted for not keeping a factory running despite with such low sales and successive bankruptcies.

Cmon dude. Whole world knows the Nokia issue. Thats where the Retrospective taxation drawbacks surfaced.

 

[Guynextdoor2]

Cmon dude. Whole world knows the Nokia issue. Thats where the Retrospective taxation drawbacks surfaced.

Retrospective taxation was by AIADMK. Any case that closure would have happened, maybe a month later. Tell me did anyone in the world accept Symbian? Unlike, say 2007, nokia sales had dropped to a tiny trickle even in India. Then they tried MS (probably hoping for a deal), that sent them down a death spiral. By the time the factory shut down Nokia was hemmoraging money for a long time. Let's not start thinking that there is a magic wand that's gonna save them. At least one poster here is saying 'they will start again', you really think that's gonna happen? This isn't about make in India, here the company and it's products have failed.

 

[Screambowl]

But this is not a fabrication plant. This is more of an assembly plant. Any ways, atleast something than nothing.

 

[TimeTraveller]

@WebMaster Thanks For Featuring this thread......