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MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE  >  Samsung Electronics Co Ltd    A005930   KR7005930003

SAMSUNG ELECTRONICS CO LTD

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

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01/20/2020 | 03:08am EST
FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul

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 for 920 million rupees to its display unit, Samsung India Electronics Private Ltd said in a filing dated Jan. 3.

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.

The new display factory will help Samsung Electronics secure local supplies of one of the most expensive smartphone components at a time when the South Korean firm is also struggling to fend off competition from Chinese rivals in India.

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

Samsung, the second-biggest smartphone vendor in India after China's Xiaomi Corp, saw its market share fall to 20% in the country in the third quarter, from 25% three months earlier, showed data from researcher Counterpoint.

Smaller Chinese rivals Vivo and Realme boosted their share of the market, one of the world's fastest-growing.

By Chandini Monnappa

Stocks mentioned in the article
ChangeLast1st jan.
SAMSUNG ELECTRONICS CO LTD End-of-day quote.
XIAOMI CORP End-of-day quote.
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Financials (KRW)
Sales 2020 251 866 B
EBIT 2020 38 687 B
Net income 2020 29 606 B
Finance 2020 101 742 B
Yield 2020 2,59%
P/E ratio 2020 13,2x
P/E ratio 2021 9,70x
EV / Sales2020 1 588x
EV / Sales2021 1 441x
Capitalization 400 072 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 39
Average target price 69 736,84  KRW
Last Close Price 60 000,00  KRW
Spread / Highest target 36,7%
Spread / Average Target 16,2%
Spread / Lowest Target -10,0%
EPS Revisions
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NameTitle
Hyun-Suk Kim Co-President, Co-CEO & Director
Dongjin Koh Co-President, Co-CEO & Director
Kinam Kim President, Co-CEO & Director
Tae Moon Roh Co-President & Head-Research & Development
Sang-Hoon Lee Chairman
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