Samsung Electronics to Build Mobile Plant in India
Fri Dec 9, 2005
MUMBAI (Reuters) - Samsung Electronics Co. Ltd. (005930.KS: Quote, Profile, Research) said on Friday it would invest $15 million to set up a mobile handset unit in India with an initial capacity of 1 million units a year.
The capacity of the handset manufacturing unit, to be built in Manesar in the northern Indian state of Haryana, would rise to 20 million by 2010, a company spokesperson said.
India is the world's fastest-growing major wireless market, adding nearly 3 million new mobile users each month. About 34 million handsets are expected to be sold in India in 2005, up 62 percent from 2004.
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