On a fan community page on Chinese social media platform Weibo, hundreds of users have posted comments and pictures, some covered in little red hearts, to express their admiration for a star they affectionately call Kun Kun. “Kun Kun flies bravely, iKun will always follow him; Kun Kun never gets old, and will remain a blue-chip till the end,” some users wrote alongside the picture. “Kun Kun,” whose full name is Zhang Kun, is neither a pop star nor actor. Instead, he is one of China’s most prominent fund managers who oversees around 120 billion yuan ($18.6 billion) in assets at E Fund Management, an established Chinese asset management firm. Zhang’s followers, who label themselves “iKun,” (“i” is a homophone for the Chinese word love), have also created accounts on Weibo posing as his “global fan clubs.” “Kun Kun, I would like to accompany you for many, many years,” a follower wrote. “Let’s witness both the bull and bear markets, but still return with young hearts.” ...
Image Credits: MANJUNATH KIRAN / AFP / Getty Images
Samsung, which once led India’s smartphone market, is investing $500 million in its India operations to set up a manufacturing plant at the outskirts of New Delhi to produce displays.
The company disclosed the investment and its plan in a filing to the local regulator earlier this month. The South Korean giant said the plant would produce displays for smartphones as well as a wide-range of other electronics devices.
In the filing, the company disclosed that it has allocated some land area from its existing factory in Noida for the new plant.
In 2018, Samsung opened a factory in Noida that it claimed was the world’s largest mobile manufacturing plant. For that factory, the company had committed to spend about $700 million.
The new plant should help Samsung further increase its capacity to produce smartphone components locally and access a range of tax benefits that New Delhi offers.
Those benefits would come in handy to the company as it faces off Xiaomi, the Chinese smartphone vendor that put an end to Samsung’s lead in India.
Samsung is now the second largest smartphone player in India, which is the world’s second largest market with nearly 500 million smartphone users. The company in recent months has also lost market share to Chinese brand Realme, which is poised to take over the South Korean giant in the quarter that ended in December last year, according to some analysts.
TechCrunch has reached out to Samsung for comment.
Comments
Post a Comment