Xiaomi's component supplier Holitech Technology to invest $200 mn in India

Xiaomi had said in April that it wanted its global smartphone component makers to set up base in India.

China’s Xiaomi Corp said on 6 August its component supplier Holitech Technology would invest about $200 million in three years in India which is the world’s second-biggest smartphone market.

Xiaomi had said in April that it wanted its global smartphone component makers to set up base in India, in what could potentially bring as much as $2.5 billion of investment and create as many as 50,000 jobs.

Xiaomis component supplier Holitech Technology to invest 0 mn in India

Xiaomi logos are seen during a news conference in Hong Kong, China. Image: Reuters

India imposed a 10 percent tax on imports of key smartphone components, including populated printed circuit boards, in April as it moves to step up local assembly of mobile devices.

Holitech will manufacture components including camera modules, thin film transistor and fingerprint sensor at Tirupati in the southern state of Andhra Pradesh, Xiaomi said in a statement.

The company expects to begin manufacturing by the first quarter of 2019 with an aim to generate 6,000 jobs in three years.

Tech2 is now on WhatsApp. For all the buzz on the latest tech and science, sign up for our WhatsApp services. Just go to Tech2.com/Whatsapp and hit the Subscribe button.

Loading...





also see

science