Xiaomi announced that Holitech Technology, a component supplier, has inaugurated its first component manufacturing plant in India.
Holitech Technology has established its operations in Greater Noida and was first invited by Xiaomi in Q1 2018 to investigate local manufacturing opportunities during its Supplier Investment Summit.
Holitech Technology aims to invest nearly $200 million over three years in the country and would manufacture Compact Camera Modules (CCM), Capacitive Touch Screen modules (CTP), Thin Film Transistors (TFT), Flexible Printed Circuits (FPC), and fingerprint modules, locally. The local manufacturing plant is ready and would commence production within Q3 2019 and it aims to generate 6,000 jobs in three years.
The component manufacturing plant is spread across four factories and spans over 25,000 square meter in Greater Noida and will start mass production with a capacity of over 300 million components annually.
Holitech Technology in partnership with the Uttar Pradesh government is also organising a Supplier Investment Summit with Holitech Technology component suppliers and over 15 of its suppliers would visit the state.
“Xiaomi has witnessed significant growth in the country and we are positive that Holitech’s plans for India will herald a new stage of evolution for the electronics manufacturing industry in India,” Muralikrishnan B, chief operating officer of Xiaomi India, said.
“The growth of Xiaomi along with their initiatives to promote local manufacturing has encouraged us to explore component manufacturing for Xiaomi in India,” Chenguisheng, CEO of Holitech Technology, said.
Xiaomi in April, 2018 announced the opening of three more smartphone manufacturing plants in India.
Xiaomi has also started manufacturing smartphones at its power bank plant in partnership with Hipad Technology in Noida, Uttar Pradesh, resulting in a total of six smartphone manufacturing plants in India.
