Samsung is setting up shop in India in a big way.
The South Korean tech giant said Monday that it’s opening the world’s largest phone factory in Noida, near the outskirts of New Delhi. The company is hoping to tap into the lower manufacturing costs there as it pushes its presence in the fastest-growing mobile phone market, according to Reuters.
The facility is expected to help Samsung build more cheap phones to make gains in India, a market dominated by the likes of Xiaomi and Lenovo’s Motorola unit.
South Korean President Moon Jae-in and Indian Prime Minister Narendra Modi were in attendance for the opening ceremony of the facility. (See it here.)
Samsung didn’t immediately respond to a request for comment.
Follow the Money: This is how digital cash is changing the way we save, shop and work.
Rebooting the Reef: Techhnews dives deep into how tech can help save Australia’s Great Barrier Reef.