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


South Korean flat screen maker Samsung Display plans to set up a factory in India with a $500 million investment as parent Samsung Electronics Co Ltd seeks to expand smartphone production there, a regulatory filing showed. 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.

Under the plan, Samsung Electronics will provide 35 billion rupees ($492.31 million) in loans and transfer a parcel of land in Noida.

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