Samsung plans to set up phone factory in Indonesia

JAKARTA/SEOUL, Aug 18: South Korea's Samsung Electronics Co Ltd said on Monday it plans to set up a factory to produce mobile phones mainly for Indonesia, one of the world's fastest growing markets for the devices. The company, which already has factories in China and Vietnam, declined to disclose the potential size of its investment. Earlier this year, Taiwan's Foxconn Technology Group, a major supplier to Apple Inc, said it was considering setting up a $1 billion manufacturing facility in Indonesia. "We have been discussing with the Indonesian government of our plan to produce mobile phones for the domestic market, so that we can meet local consumers' need more effectively," Samsung said in an emailed statement.    —  Reuters