SAMSUNG TO FOCUS ON LOCAL R&D, ANNOUNCES NEW MANUFACTURING INITIATIVES IN INDIA

On Wednesday, Samsung said it would focus on local R&D and undertake new initiatives in manufacturing as the South Korean tech giant completes 25 years of its operations in India. Samsung, which clocked a revenue of over $10 billion in FY19, is committed to new manufacturing initiatives in India and developing the country as an electronics manufacturing and exports hub. The company has launched #PoweringDigitalIndia, its new vision aimed at students across the nation, a refreshed local R&D strategy with a special focus on the local startup community, and new initiatives in manufacturing, said Samsung in a statement.

The company complete 25 years this December.

According to a Samsung Spokesperson: “When we started our operation in 1995, our revenue was just $6 million and today, we are a $10 billion company.”

Launching the new vision, Samsung Southwest Asia President & CEO Ken Kang said: “At 25, Samsung India is as young and vibrant as New India… Our new vision #PoweringDigitalIndia sets the course for India’s future growth, in which Samsung will continue to be its strongest partner.”

As part of the Powering Digital India vision, Samsung will launch a new youth-centric citizenship program that will involve engineering students and academia from across the country and will help create a stronger innovation ecosystem in the country, it added.

“The contours of the program will be unveiled soon,” it added.

Over the R&D front, Samsung said it has a refreshed strategy for the next year. Its R&D centers in India will continue to work on advanced R&D areas such as 5G, AI, IoT, and cloud services.

“In addition to this, they will expand Open Innovation with startups, students, and universities to help strengthen the innovation and startup ecosystem in the country and also augment their in-house innovation capabilities,” it said.

Besides, the company also said it would take new initiatives in manufacturing.

“Samsung is planning new initiatives in manufacturing in India, contributing to the government”s vision of ”Make in India” and developing the country as an electronics manufacturing and exports hub,” it said.

Samsung’s India’s journey started back in 1995 and has now operated two manufacturing facilities for mobile phone and consumer electronics, five R&D centers, one design center, 200,000 retail outlets, and over 70,000 employees.

In 2018, Samsung had inaugurated the world”s largest mobile factory in Noida. Samsung has also set up the World’s Largest Mobile Experience Centre at the iconic Opera House in Bengaluru, further strengthening its commitment to India.

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