Will invest Rs. 350 crore to ramp up electronics production

Samsung Electronics, on Monday, unveiled the Galaxy Grand 2, the latest update to the Grand product line. The smartphone will be available in the market from the first week of January 2014.

It will be priced between Rs. 22,900 and Rs. 24,900, the company said.

A successor to Galaxy Grand, the new smartphone delivers HD viewing experience, and comes with more powerful multi-tasking features.

Samsung, for the first time, has introduced a single destination—Club Samsung—for its Indian infotainment content. The Club Samsung digital entertainment store features music, movies & live TV.

The device runs on the Android 4.3 Jelly Bean operating system and is a dual-SIM device with support for GSM+GSM. It also features a 5.25-inch HD TFT display with a resolution of 720x1280 pixels. Slimmer and lighter at 8.9 mm and 163 grams, the Galaxy Grand 2 will be available in three colours—black, white and pink. “Galaxy Grand 2 with a vivid HD screen offers a premium viewing experience, and enhances multi-tasking abilities with its multi-window feature.

Along with this, the introduction of Club Samsung will significantly elevate user experience in terms of features, content and services,” said Vineet Taneja, Country Head, Mobile and IT, Samsung India, while launching the smartphone here.

PTI reports:

Samsung also plans to invest in India about Rs. 350 crore within a year to ramp up its electronics production, according to government sources.

“Electronics manufacturing policy has been attractive. Samsung has again proposed to invest about Rs. 350 crore in its electronics plant. This is in addition to the Rs. 400 crore investment made for the mobile phone facility,” a government official told PTI. The company plans to invest this amount in production of flat panel TVs and washing machines, he added.

No comments were received from Samsung on the matter. Samsung has gained following a government decision in August to impose 36 per cent import duty on flat panel TVs that were brought into India as part of baggage by passengers from abroad, the source added.

As per industry body Consumer Electronics and Appliances Manufacturers Association, about one million TVs were coming in as accompanied baggage in a year, which constitutes about 20 per cent of the total market size of the country.

The production of flat panel TV in the country has grown by about 39 per cent in September and 20 per cent in October on an annual basis.