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Samsung Display to set up India office to boost local production

Samsung Display Co. Ltd. is looking to set up a factory and invest in India, in line with Samsung Electronics Co. Ltd.'s plan to increase production in the country, Reuters reported, citing a regulatory filing.

The investment will be about 35 billion Indian rupees in loans.

Samsung Electronics also intends to transfer a parcel of land in Noida to its display unit.

Samsung India had reportedly begun outsourcing production of some of its smartphone models in October 2019.

The news also comes amid a recent confirmation from Samsung Display that it will invest 13.1 trillion South Korean won by 2025 on facilities and research to produce next-generation display screens.

As of Jan. 17, US$1 was equivalent to 1,160.51 South Korean won and 71.08 Indian rupees.