INSUBCONTINENT EXCLUSIVE:
Samsung Electronics Vice Chairman Lee Jae-Yong is currently in India and is likely to meet Prime Minister Narendra Modi and Reliance
Industries Chairman Mukesh Ambani this week, news agency Yonhap reported.Mr Lee arrived in India on Sunday and was briefed by Samsung
It is believed to be Mr Lee's first visit to India since March.Samsung is one of the equipment suppliers for Reliance Jio's 4G network
business.With the Indian telecom firm planning to establish a 5G network in the country, industry observers speculate that the two moguls
may consult on the issue if there is a meeting."There's also a possibility that Mr Lee could meet with Prime Minister Narendra Modi," a
source said.In July last year, Samsung India set up one of the world's largest mobile manufacturing facilities in Noida, Uttar Pradesh
PM Modi and South Korean President Moon Jae-in inaugurated the 35-acre Samsung Electronics facility.Samsung currently has two manufacturing
plants -- in Noida and in Sriperumbudur, Tamil Nadu -- and five research and development centres in India
The company has one design centre in Noida with workforce of over 70,000 people.India today is the second-largest mobile phone manufacturer
According to a survey conducted by mobile industry body ICEA, the 268 mobile handset and accessories manufacturing units in the country
employ about 6.7 lakh people.Due to the focus on 'Make in India' and 'Digital India' programmes, Uttar Pradesh has emerged as the new hub of
mobile manufacturing in the country over the past few years.The new Samsung facility in Noida was set up with the aim of doubling its
capacity for mobile phones in Noida from 68 million units a year to 120 million units a year, in a phase-wise expansion to be completed by
2020.India currently has over 450 million smartphone users
The number of smartphone users in the country is expected to reach 859 million by 2022, according to an ASSOCHAM-PwC joint study.Samsung
India is targeting business worth Rs 3,000 crore by selling over 2 million smartphones online before Diwali that falls on October 27."Mr
Lee's recent visits show Samsung has a big interest in the Indian market," the source added.Mr Lee is the only son of hospitalized Samsung
Group chief Lee Kun-Hee.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com
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