LeEco,the global internet technology conglomerate, has proudly announced the launch of its first state-of-the-art smartphone manufacturing facility in Greater Noida in India.
The facility has been set up at a significant investment of $5 million and a further $2 million has been earmarked for the automation process. LeEco has collaborated with the leading electronics manufacturer Compal Electronics to set up this facility in the country.
The ceremonial lamp lighting to signify the official launch of plant operations was commenced by Union Minister for Electronics & Information Technology and Law & Justice, Ravi Shankar Prasad in the presence of Atul Jain, COO, Smart Electronics, LeEco India.
At the inauguration, the Minister said, “As the market size for electronics is expected to grow to $400 billion by 2020, it is imperative to promote indigenous manufacturing. LeEco is a name of global reputation and it is heartening to see it align with ‘Make in India‘ just after entering India eight months earlier. We laud their efforts of training local talents and building a center of R&D excellence in the country.”
Along with this major development, LeEco also announced another milestone in its India journey – crossing the 1 million sales volume for smartphones in India. This is a commendable achievement for LeEco, zooming from zero to 1,000,000 in under 8 months.
Tin Mok, Vice-President, Le Holdings and CEO, LeEco Asia-Pacific, said, “Our ultimate objective is to offer our users more and more locally manufactured products that are customized to Indian consumers’ needs. We have a strong R&D team in India and plan to add over 1,000 engineers to it by next year, which we intend to leverage for designing and developing products that resonate even better with our users here and also in overseas markets.”
Present at the momentous occasion, Atul Jain said, “This indeed is a historic moment for us as we translate our intent of aligning with the government’s Make-in-India initiative with investment and other commitments. We are proud to have established our local manufacturing facility within 8 months of entering the country, which is well ahead of schedule.”
Based in Greater Noida, the facility is spread over an area of 200,000 square feet and has a capacity of producing close-to 60,000 phones per month initially. LeEco plans to rapidly ramp up the production to approximately 200,000 superphones per month by the end of 2016. This facility will now ensure that users get the same quality of products manufactured locally at better price.
LeEco is already employing close-to 200 skilled employees at the facility and as it scales up manufacturing, it plans to ramp up this number significantly.