Gionee To Invest $50 mn To Make Handsets In India
There has been another major addition to mobile manufacturing in India and this time it is Chinese firm Gionee who has announced that it will invest around $50 million to manufacture its phones in the country. The ‘Make in India’ initiative has seen a lot of global mobile manufacturers enter the Indian market and the entry of Gionee is no surprise. Everybody wants to have their share in this ever-growing Indian mobile market.
The Chinese manufacturer has tied up with Taiwanese electronic manufacturing services (EMS) giant Foxconn and an Indian EMS player Dixon to manufacture its phones. The investment that the company will make in the country will be in a time span of next three years. The production will start in the month of October and both these EMS players will together supply around 1.2 million phones monthly for the company.
According to William Lu, President, Gionee, the Indian market is only second to the Chinese market and the company expects this market to be as big as China some day. The investment in manufacturing in this country is very strategic and we are eager to invest more under the ‘Make in India’ endevour.
The company is also planning to invest in research and development of software in India and will significantly increase its R&D team in the coming months.