Samsung Kickstarts Laptop Manufacturing In Its Massive Noida Facility: Report

Samsung Electronics of South Korea is gearing up to commence laptop production at its Noida facility in India, a move reported in a recent media report.

What Happened? According to a report by the Mint, currently a hub for phone production, Samsung’s Noida plant is undergoing expansion to accommodate a new laptop manufacturing unit, aiming to produce 60,000 to 70,000 units annually. This initiative represents an investment of about ₹100-200 crore.

The development is part of a broader trend, with global hardware firms intensifying collaborations with Indian companies, leveraging the revised production-linked incentive (PLI) scheme. This scheme is a catalyst for establishing a robust ecosystem for manufacturing notebooks, desktops, and servers in India, aligning with the federal ambition of achieving 70% local output in three years.

See also: Larger, Affordable Smart TVs Gain Traction In India As Streaming Sticks Lose Shine: IDC

Why it Matters? Companies like Asus, Acer, HP, and Lenovo are actively engaging in discussions to enhance their manufacturing footprint in India, with Asus partnering with US-based Flextronics and Acer in an advanced phase to bolster its presence. The union cabinet's approval of the revised PLI scheme, with a financial outlay of ₹17,000 crore, is a significant step forward, receiving 40 proposals worth ₹22,890 crore.

This move by the government, coupled with the reconsideration of import restrictions, is poised to incentivize local manufacturing and regulate inbound shipments, fostering a conducive environment for tech innovation and production in India.

Read next: India Fourth Globally In Scale-Up Ecosystem, Surpasses UK in VC Investments: Startup Genome

Market News and Data brought to you by Benzinga APIs

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: TechLaptopSamsung