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Samsung Display Says It Is Considering Building A Factory In India: Report

Samsung Display Says It Is Considering Building A Factory In India: Report

Samsung saw its market share drop to 20% in the country in the third quarter.

SEOUL: 

Samsung Display, a flat-screen supplier to Samsung Electronics Co, will invest nearly $500 million to build a new factory in India, media reports said, citing a regulatory filing.

The South Korean company told Reuters that it was considering building a factory in India, without elaborating further.

The new factory will be built in Noida, according to reports by tech website TechCrunch and newspaper The Economic Times. Noida is also home to Samsung Electronic’s phone factory.

The new display plant will help Samsung Electronics secure local supplies of one of the most expensive parts of a smartphone, at a time when the tech giant is struggling to fend off competition from Chinese rivals.