Samsung is planning to shift a major part of its smartphone production to India from Vietnam and other countries with the South Korean electronics major finalising plans to produce devices worth over $40 billion (Rs 3 lakh crore) in the country, say reports.
“Samsung is likely to diversify its production lines for making smartphones to India under the PLI (Production Linked Incentive) scheme and this will have an impact in its existing capabilities across various countries like Vietnam,” a person familiar with the matter told Economic Times.
Vietnam is the world’s second-largest exporter of smartphones after China. According to people familiar with the matter, Samsung has submitted estimates of making smartphones worth over $40 billion to the government in the next five years (under the PLI scheme). Out of this, phones with factory price of over $200 could account for over $25 billion. “…most of phones manufactured in this category will be exported,” a senior government official said.
According to the government’s new plan, Apple will soon start making iPhones in the country. Several other companies have also applied to be part of the scheme.
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