Xiaomi, India’s number one smartphone brand key component supplier Holitech Technology signed an MoU with Andhra Pradesh to start component manufacturing at Tirupati.
The Holitech Technology will invest nearly 200 million dollar for manufacturing camera modules, thin film transistor, capacitive touch screen module, flexible printed circuits and fingerprint sensor to provide 6000 jobs in three years. The component manufacturing plant would be spread across 75 acres of land in the city of Tirupati and start production with nearly 50 million components per month.
Speaking on the occasion, Chief Minister Chandrababu Naidu said the company starting major operations for first time outside China. He said AP has more potential with abundant resources and infrastructure. He said better eco system was created in the state to encourage industries.
Minister for Information Technology Nara Lokesh said Andhra Pradesh has young entrepreneurial spirit and poses an attractive destination for similar minded companies. The Holitech Technology will certainly initiate a big revolution in the market for local manufacturing.
Manu Jain, vice president, Xiaomi and Managing director, Xiaomi India said that Holitech is an important global component supplier of Xiaomi and with the entry in India a new era of local manufacturing will begin with several job creations.
Flame Chen, co-founder and CEO, Holitech Technology said The phenomenal growth of Xiaomi along with their initiatives to promote local manufacturing has encouraged us to explore component manufacturing for Xiaomi in India.
It may be noted that Holitech was founded in 2004 and is a leading electronic component manufacturer.