Ad
Ad
Ad
Ad
© Holitech Technology Business | August 10, 2018

Xiaomi supplier Holitech to invest $200 million in India

Holitech Technology announces that the company has signed a memorandum of understanding with the government of the Indian state of Andhra Pradesh regarding investment in electronics manufacturing in India.
According to the memorandum, Holitech will invest USD 200 million USD in a new plant in Tirupati, southern Andhra Pradesh, to produce camera modules (CCM), color liquid crystal display (TFT), capacitive touch screen modules (CTP), flexible printed circuit board (FPC) and fingerprint identification module (BR), a press release from Holitech reads.

With this new component manufacturing facility, the company says that it will create about 6’000 jobs in the local area.

The news comes shortly after Xiaomi India organised a first global Supplier Investment Summit in April 2018. The objective of this summit was to encourage its top 50 global suppliers to locally manufacture in India.

Xiaomi says in its own press release that Holitech, which is one of its key component suppliers, is likely to start its local manufacturing by the first quarter of 2019.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Load more news
July 18 2018 5:55 pm V10.0.0-2