Noida Current Affairs

India’s first Mobile Open Exchange zone inaugurated at Noida

Prime Minister Narendra Modi laid the foundation stone of country’s first Mobile Open Exchange (MOX) zone in Noida, Uttar Pradesh. UP government had signed MoU with World Trade Centre, Noida at UP Investors Summit to develop Tech Zone which will act as catalyst for growth of mobile and allied sectors in the state.

Mobile Open Exchange (MOX) zone

MOX will be dedicated ecosystem for mobile industry, providing integrated platform to mobile manufacturers, research and development (R&D) and allied industries. It brings service providers, handset manufacturers, mobile content, application and service providers, retailers and distributors at one place which promotes indigenous R&D in hardware and start-ups in app development and other domains of the industry.

This unique zone will play pivotal role in attracting investment and area will reap huge benefits from it. The ecosystem will channelize foreign direct investment (FDI) and generate revenues from consumption-based and destination-based taxes. Moreover, its proximity to universities will strengthen industry-academia relations and provide them opportunity to work together in R&D. Chinese company already has set up its manufacturing facility in WTC Noida complex and directly and indirectly employs over 15,000 people.

Month: Categories: Business & Economy Current Affairs 2018

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Samsung inaugurates world’s largest mobile phone factory in Noida

South Korean technology giant Samsung inaugurated the world’s largest mobile manufacturing unit in Noida, Uttar Pradesh. It was jointly inaugurated by Prime Minister Narendra Modi and South Korean President Moon Jae-in.

Key Facts

Samsung Electronics facility at Sector 81 in Noida will help company to double its current manufacturing capacity for mobile phones in Noida from 6.8 crore units a year to 12 crore units a year (10 million phones in a month), in phase-wise expansion that will be completed by 2020.

The facility will allow Samsung to make phones at a lower cost due to its scale when other phone making hubs such as China are getting more expensive. 70% phones manufactured in this facility will be earmarked for domestic market in Indian and remaining 30% will be exported to Middle-Eastern and African nations.

The new factory has been built at investment of Rs. 4,915 crore on 35-acre land. It will generate 2,000 direct jobs. At present, Samsung provides 70,000 direct and indirect jobs in country, 5,000 of them are employed in Noida. Production in this new facility will range from low-end smartphones priced below $100 to company’s flagship models.

Comment

India is world’s second-largest smartphone market after China (after it overtook US). According to a study by Cisco Systems, there will be 780 million connected smartphones in 2021, compared with 359 million in 2016. This new facility is expected to help Samsung to consolidate its leadership position in Indian mobile market, which currently is facing strong competition in smartphone segment by Chinese players such as Xiaomi, Vivo, Oppo and others.

Month: Categories: Business & Economy Current Affairs 2018

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