hiddenAug 10, 2015 15:51:34 IST
Chinese smartphone maker Xiaomi Inc has tied up with Taiwan's Foxconn to start assembling phones in India - its first such move in the world's third largest smartphone market as it seeks to expand its market share.
An assembly line in the southern state of Andhra Pradesh will begin rolling out Xiaomi's first locally made smartphone, the Redmi2 Prime, the company's global vice president Hugo Barra said.
"It's not only about designing for India, we want to make in India and be closer to our consumers," Barra told reporters. He declined to disclose the size of the investment made in setting up the assembly line.
The assembly line marks a return for Foxconn, officially known as Hon Hai Precision Industry Co, to the Indian market. The world's largest contract electronics manufacturer was forced to shut up shop in Asia's third-largest economy last year after client Nokia stopping making phones at that plant.
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