South Korean consumer electronics major Samsung today inaugurated the world's largest mobile phone factory here which will double its annual handset production capacity to 120 million units by 2020.
The new plant will help the company raise its capacity in a phased manner, from 68 million units at present, to 120 million.
The company also launched Make for the World' initiative, whereby it aims to export mobile handsets produced in India, to overseas markets.
Samsung India CEO HC Hong said: "Our Noida factory, the world's largest mobile factory, is a symbol of Samsung's strong commitment to India, and a shining example of the success of the Government's Make in India' programme. Samsung is a long-term partner of India.
The company is aligned with government policies and will continue to seek their support to achieve dream of making India a global export hub for mobile phones, he said.
Chief Minister of Uttar Pradesh Yogi Adityanath and Union Culture Minister Mahesh Sharma were present at the event.
In June last year Samsung had announced investment of Rs 4,915 crore to add new capacity at the Noida plant in Uttar Pradesh.
Set up in 1996, Samsung's Noida factory, is one of the first global electronics manufacturing facilities set up in India.
A bigger manufacturing plant, spread over 129,000 sq metres, will help Samsung meet the growing demand for its innovative products and services across the country and also fulfil the company's goal of making India an export hub for the world, Samsung said in a statement.
Presently all Samsung mobile phones, including its flagship Galaxy S9, S9+ and Galaxy Note8, are manufactured at its Noida plant.
Samsung has another manufacturing unit at Sriperumbudur, near Chennai, five R&D centres and one design centre in India.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)