IT

South Korean President Moon Jae-in, PM Narendra Modi Hold Bilateral Talks

South Korean President Moon Jae-in, PM Narendra Modi Hold Bilateral Talks

The South Korean smartphone maker already has a facility in Noida, and with the new manufacturing plant, it aims to double the current capacity of mobile production from 68 million units yearly, to 120 million units in a year. The factory is also expected to provide at least 1,000 more local jobs.

The prime minister further said that steps have been taken to upgrade comprehensive economic partnership agreement between India and South Korea.

The South Korean electronics giant had a year ago announced a fresh investment of Rs 4,915 crore to expand the existing plant by another 35 acres. "Altogether, over 400,000 people are working in those units and Samsung is spearheading this with a workforce of 70,000 people", Modi said.

President Moon Jae-in said the new facility will create a new era for India-Korea ties. Apart from Noida, Samsung also has a factory in Sriperumbudur, near Chennai, five research and development centres and one design centre along with 1.5 lakh retail outlets and 3,000 customer service points.

Today Samsung is opening what it describes as the world's biggest mobile phone manufacturing facility.

Michael Cohen Suggests He Could Cooperate With Mueller Probe
Cohen said that he couldn't comment on the advice of counsel, but noted that he has respect for those involved. "I want to answer. Adult film actress Stormy Daniels at The Joint inside the Hard Rock Hotel & Casino January 20, 2012 in Las Vegas, Nevada.

Speaking on the new investment, a Samsung official had said that the latest investment in Noida plant would double the production capacity of smartphones.

The Korean electronics company, which was once the market leader in India, has ceded its share to Chinese firms such as Xiaomi in the smartphone segment and Reliance Jio in the feature phone segment. Smartphones made in India are expected to account for almost one third of the entire production in the world.

A total of 11 MoUs were signed between India and South Korea including on cooperation in the field of biotechnology and bio-economics and on cooperation in the field of ICT and Telecommunications.

The PM added the number of manufacturing factories in mobiles had gone up to 120 from just two since 2014.

"The visit to India and Singapore by the head of state marks a move towards launching the New Southern Policy in earnest", Mr Kim Hyun-chong told reporters, referring to President Moon's key foreign policy that seeks to greatly enhance the country's relationship with India and 10 members of the Association of South-east Asian Nations (Asean).

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Croatia grabbed the last place in the final four on Wednesday after eliminating hosts Russian Federation on penalties. Vida and Vukojevic played together at Ukrainian club Dynamo Kiev . "He needs to stay calm", Fernandes said.

Modi credited Moon for initiating the peace process in the Korean peninsula.

Along with bringing jobs, such localized manufacturing could also go a ways toward helping bring the cost of devices down.

Inaugurating the new facility, spread over 129,000 sq metres at Sector 81, Modi said Samsung will export 30 per cent of the handsets made at the factory to other markets.

Although Samsung held the top spot on the list of mobile phone manufacturers in India for a long time, it was recently knocked down to the second position by Chinese manufacturer Xiaomi.

Analysts point to slow smartphone sales as Samsung's operating profit declines
But each year, the device's launch is delayed, leaving the world speculating on when it'll finally hit store shelves. Earlier reports claimed that it's the other way around and the S10 would be launched earlier than its predecessor.


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