World's Largest Mobile Phone Factory Set To Open in India

Samsung said on Monday that it is opening what it said is the world's biggest mobile phone manufacturing facility as the South Korean giant seeks to expand production in the world's fastest growing mobile phone market. From a report: The new Samsung factory will have the capacity of 120 million smartphones per year, and make everything from low-end smartphones that cost under $100 to its flagship S9 model, according to the company. Earlier this year, China's Xiaomi displaced Samsung from the No. 1 smartphone spot in the country, breaking its long-held dominance. Indians favor low-end smartphones priced at $250 or less, given the low average annual income of its people, according to Bloomberg Intelligence. That's one reason why Apple has struggled to gain market share in India, with most iPhone models priced beyond $500, according to a Bloomberg Intelligence report earlier this month.