On August 6, Chinese technology giant Xiaomi announced that its global parts supplier Holitech will build a factory in Tirupati, south of Andhra Pradesh, with an investment of Rs 14 crore (about RMB 1.39 billion). ), Can create 6000 jobs. This is the first large-scale expansion of Holitech outside China.
On August 8th, Holitech said on the interactive platform that due to the rapid growth of smartphones in India and overseas markets, the company is the company with the most comprehensive supply chain for smartphones (including display screens, touch screens, FPCs, fingerprints, Camera, glass cover, etc.), the company will take advantage of multi-product synergy, and explore and expand overseas markets with first-line brands.
According to reports, Holitech's company in India will begin producing camera modules, touch screens, TFTs (thin film transistors), flexible printed circuits and fingerprint modules designed for Xiaomi in January 2019. In the first phase, the plant will produce 50 million parts per year, and in the second phase, that is, within three years, the production capacity will be expanded to 100 million components per year, and it will achieve $ 1 billion in revenue in the first year of operation.
Holitech President Chen Guisheng said, "In the next 3 years, we expect Tirupati's plant to generate US $ 2 billion (about 13.7 billion yuan) of revenue." Helitai's global revenue in 2017 was US $ 2.7 billion (approximately RMB 18.5 billion), and strive to reach USD 4 billion (about RMB 274 yuan) in 2018. Holitech has 16 factories in China, and Tirupati's plant will be Helitech's first investment project in India.
Manujan also confirmed that Xiaomi is in talks with other component suppliers and they are willing to establish a production base in India, but did not disclose further details.
Xiaomi stated in April that the company hopes to place its global smartphone component maker in India, a move that could bring in nearly $ 2.5 billion in investment and more than 50,000 jobs.