[Correction]Samsung Dedicates A Mobile Phone Plant In India

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삼성전자 코스피 005930

2006-03-08 14:14

Seoul--(뉴스와이어)--Samsung Electronics Co., Ltd, a leading provider of mobile phones and telecom systems, has taken aim at the Indian mobile phone market, the world’s largest emerging market, by completing a local mobile plant. The move is also accelerating the company’s global reach.

On March 7 (local time), a ceremony was held to dedicate the new facility in Gurgaon, in Haryana State. Production is scheduled to start up immediately. Over 100 business and government leaders were at the proceedings, including President of Telecommunication Network Business of Samsung Electronics, Kitae Lee, Haryana Governor B.S. Hooda, , and India Mobile Phone Association President Pankaj Mohindroo.

The new Indian plant will produce one million mobile phones in the coming year and output capacity will be steadily expand over time.

The Indian mobile phone market was 27 million units last year and is expected to reach 40 million units in 2006, growing about 20% a year. The penetration rate for GSM mobile phones in India is now a mere 6% of the population and the room for further growth is tremendous.

“The Indian economy is rising by more than 7% a year, and the growth potential for the mobile phone market is unlimited. Our Indian mobile phone plant boasts highly advanced production facilities and technologies, along with an excellent workforce. As such it will become a world-class operation” said Kitae Lee, President of Telecommunication Network Business of Samsung Electronics.

[Correction] The last sentence regarding the investment amount has been deleted.

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웹사이트: http://www.samsung.com/sec