Samsung ready to Invest Rs. 500 Crores to augment mobile production in India

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Samsung products like smart phones and tablets have already gained a great market share in the electronics market. Samsung, the leading electronics giant is all set to invest Rs. 500 Crores in the Indian Smartphone market to boost up its mobile production in India. Samsung currently is ruling the Smartphone market in India and its products are among the hot favorites of many tech savvy people.
Samsung, the giant of technology and a South Korean firm has finalized to invest gigantic Rs. 500 Crores in the Smartphone market of India with a plan to augment its mobile production facilities in India. The decision is believed to be the end result of huge success of this South Korean firm in the Indian market.
Samsung sold almost 20 lakhs Smartphone in the first quarter of the year 2013, which massively gave it a 32.7% share in the period, as stated by the latest reports provided by Market Research Firm IDC.
One of the internal sources has revealed, “Samsung is working to invest Rs 500 Crores in its mobile production facility in India. It had approached Government in this regard to take benefit of policy announcements and other incentives. The investment proposals have been cleared at Department of Electronics and IT (DEITY) level.”
In April Samsung officials stated that they will be manufacturing the latest Samsung Galaxy S4 mobile in India in its Noida facility. The investment amount has not yet been confirmed. Samsung, who invested around 315 Crores in 2011, is thinking of rising the bar to 500 Crores this year to raise its annual turnovers in India. According to the reports, Samsung has approached Indian government to ask for assistance to seek the best governmental policies along with incentives for this investment.