- The South-Korea based Samsung is looking invest around Rs 54 Billion in setting up this manufacturing plant
- It has signed a memorandum of understanding with Uttar Pradesh Government in 2019
Samsung is looking to invest approx Rs 54 billion for setting up a display manufacturing unit in India’s Uttar Pradesh. At this point in time, almost zero manufacturing of display panels takes place in India.
Reuters in a report mentioned that it has seen a letter written and sent by Invest India to the government of Uttar Pradesh. In the letter, the body has recommended to incentivise Samsung Display for setting up manufacturing plant in the state. It is to be noted here that Samsung also has a mobile manufacturing facility located in Uttar Pradesh’s Noida.
Incentives under consideration
The report also points out that Satish Mahana, Uttar Pradesh’s minister for industrial development, has confirmed that the government is considering the incentives. However, a final decision is yet to be taken.
“Presently, competing nations such as Vietnam, Indonesia and Thailand are offering targeted incentive packages on capital expenditure. It is imperative that India also promote investments through appropriate fiscal and non-fiscal incentives,” Reuters quoted the CEO of Invest India.
Invest India was set up in 2009 as a non-profit venture under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.
Transition from LCDs to Quantum-Dot displays
Samsung Display had announced US$10.8 billion investment to produce advanced display panels last year. Weak global demand for TVs and smartphones may have encouraged Samsung Display to halt production of LCD panels. A report published by Reuters had pointed out that the Korea-based electronics giant will stop manufacturing LCD by the end of 2020.
In Q1 2020, Samsung Display, as per a report, led the smartphone display market with 52 per cent revenue share followed by BOE Technology and Tianma Microelectronics. Samsung Display maintained its position in the smartphone display category through its large panel production scale and high panel yield.