Your next Samsung phone may very well be produced in India, as the company moves a significant part of its production to the Asian country.
Acording to The Economic Times, Samsung may increase its smartphone production in India, planning to make devices worth $40 billion in five years. The reason for the shift is the country’s Production Linked Incentive system, which rewards domestic manufacturing.
The move may prove vital to the company’s revenue, lowering production costs. Device shelf prices may also be affected, giving Samsung a real edge in the head-to-head race with Apple. Most of the manufacturing being moved to India will come from Vietnam but also factories from other countries.
Vietnam is where Samsung currently has half of its production, the country being the world’s second-largest exporter of smartphones after China.
Samsung also manufactures smartphones in Brazil and Indonesia. Samsung is following Apple in moving a big chunk of manufacturing to India. the country’s new tax legislation attracting big tech companies.