InFocus, an arm of Foxconn, plans to pump in $10 million (about Rs 65 crore) in an attempt to get a foothold in India's Rs 10,000 smartphone segment; aiming to feature among the country's top five smartphone makers in the next three years.
In what will be the company's second attempt to break into the market, InFocus Mobile Global CEO Zhongsheng Luo told the Press Trust of India, "We will invest USD 10 million to begin with. If we need to make more investments, we will." The smartphone maker plans on releasing eight smartphones and eight feature phones in the current year to compete in the budget smartphone segment.
Foxconn manufactures components for Oppo and Xiaomi as well in the Indian market also promised that the move will not create a clash of interests. “We have a huge support coming from Foxconn in terms of supply chain, logistics, manufacturing. India is very important because it is a huge market. The focus will be on bringing the best products and building a balanced online- offline strategy in India,” said Lou who also happens to be the Executive Director at Foxconn International Holdings.
InFocus currently manufactures phones in partnership with Dixon and MCM. It will begin using Foxconn's facilities by August. The company plans on taking on the likes of Vivo, Motorola, Micromax and Lava in the budget smartphone segment.
Published Date: Jun 29, 2017 01:12 pm | Updated Date: Jun 29, 2017 01:12 pm