Samsung says may invest $500 million to set up display factory in India

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South Korean flat screen maker Samsung Display plans to set up a factory in Indi...

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FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea January 7, 2019. REUTERS/Kim Hong-Ji

The move would be a boon for India which is vying with nearby rivals such as Vietnam to attract global smartphone firms under the government’s “Make in India” drive. Samsung Electronics started making smartphones in Noida on the outskirts of the capital New Delhi in 2018. Last year, it stopped production in China where it had to contend with competition from domestic rivals.

Samsung did not disclose further details when contacted by Reuters. Samsung India did not immediately respond to a request for comment.

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