Samsung Electronics Co. Ltd. will invest about 700 billion South Korean won in India as it expands its production line in Noida, in the state of Uttar Pradesh, Yonhap News Agency reported June 4, citing government and industry sources.
According to the sources, the Samsung Group unit will expand its 120,000-square-meter factory to 240,000 square meters. Doing so will reportedly allow Samsung Electronics to double its current production capacity of 5 million units per month to 10 million handsets. Its refrigerator production would also double, to 200,000 units.
As of June 2, US$1 is equivalent to 1,120.04 South Korean won.