Xiaomi to Partner with Component Manufacturers for Local Production

- Advertisement -

Xiaomi aims to draw its supply chain partners to invest about $2.5 billion to set up local production facilities for smartphone components in India

Manu Kumar Jain, Xiaomi
(Image Courtesy -gsmarena.com)

Xiaomi is currently in talks with two new component manufacturers to set up production units and support its growing smartphone business in India. Manu Kumar Jain, Vice President, Xiaomi Global and Managing Director, Xiaomi India informed about the ongoing discussions.

The India MD told ET that the company was yet to finalise things. With the rising business in India, Xiaomi has been exploring potential ways to draw component manufacturers to the country. It had, reportedly, brought about 50 of its supply chain partners from China and Taiwan to assess the opportunities to kickstart local production.

- Advertisement -

Xiaomi’s suppliers invest in local production

The Chinese smartphone brand was aiming to draw investments from its suppliers in the native land and Taiwan. Xiaomi had earlier projected that these suppliers would invest around $2.5 billion (Rs 15,000 crores) in India’s production facilities. Among the suppliers, Holitech Group emerged the first one to start working on its upcoming plant in Andhra Pradesh. It has planned to invest around Rs. 14,000 crores in the next 3 years to locally produce camera module, touch screen panel, TFT (thin film transistor), flexible printed circuit and fingerprint module exclusively for Xiaomi.

Xiaomi’s focus on start-ups

“We are investing in a lot of start-ups. This is a key focus area for us,” Manu Kumar Jain was quoted by ET. Over the past few years, Xiaomi has been investing in more than 10 start-ups across India. It has further planned to invest about $1 billion in 100 Indian start-ups over the next 5 years to create an ecosystem of apps around the brand.

Xiaomi has six manufacturing facilities for smartphones and one unit for power banks in Andhra Pradesh, Tamil Nadu and Noida. It recently started its first-ever SMT (Surface-mount technology) plant in collaboration with Foxconn to begin printed circuit board or PCB assembling in Sriperumbudur, Tamil Nadu.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

NVIDIA Record $26B Q1 Revenue, Announces Stock Split And Dividend Hike

0
The quarterly cash dividend has been raised by 150%, resulting in $0.01 per share on a post-split basis. NVIDIA reported first-quarter revenue for the period...

“AIC-T-Hub Aims To Grow Startups So More Indian Unicorns Can Contribute To The GDP”

0
T-Hub has collaborated with Atal Incubation Centre (AIC), initiated by the Atal Innovation Mission to incubate semiconductor startups, fostering innovation for India’s advancement in...

Pros And Cons: Boult’s Varun Gupta On Contract Electronics Manufacturing

0
While contract electronics manufacturing is not a new concept in India, it has lately picked up a pace never seen before. But what has...

Buzz

NVIDIA Record $26B Q1 Revenue, Announces Stock Split And Dividend Hike

0
The quarterly cash dividend has been raised by 150%, resulting in $0.01 per share on a post-split basis. NVIDIA reported first-quarter revenue for the period...

ASUS IoT And BRESSNER Technology Launch CTOS

0
The collaborative approach seamlessly integrates advanced features across CTOS solutions, fostering synergy. ASUS IoT has recently unveiled a strategic collaboration with BRESSNER Technology, aiming to...

Samsung Appoints Veteran Amid AI Chip Challenges

0
This shake-up, effective immediately, sees Young Hyun Jun transitioning from his role in future business planning to tackle the booming demand for high-end AI...

Important Sectors

Renault Kwid, Maruti eVX: 15 Upcoming EVs Under ₹10 Million (1 Crore) In India

0
Should you wait or buy an electric car from the existing options in India? Well, that’s a question only you should answer! However, if...

Commercial EV Finance: Empowering Younger Companies To Drive Growth

0
While electric three-wheelers have emerged as the face of EV adoption in India, startups engaged in their retail need increased access to finance for...

Samsung Appoints Veteran Amid AI Chip Challenges

0
This shake-up, effective immediately, sees Young Hyun Jun transitioning from his role in future business planning to tackle the booming demand for high-end AI...

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

Progress And Challenges In Autonomous Commuting

0
Despite over a decade of technological advancements and testing in cities like Phoenix and San Francisco, robotaxis still faces significant hurdles.  Companies like Waymo, Cruise,...

Manufacturing

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

EVR Motors Discusses Tech Sharing With Indian OEMs

0
The Israel-based EVR Motors designs Radial Flux Permanent Magnet (RFPM) motors and licenses this technology for manufacturing by OEMs and component makers. EVR Motors, an...

Automotive Electronics Industry Growth Prospects And Strategies

0
From electric vehicles (EVs) to autonomous vehicles, discover the challenges, key players, and market segments driving a $136 billion industry revolutionising vehicles and the...
Siemens and CSA

Siemens To Sell Innomotics To KPS For $3.8B

0
Siemens chief financial officer Ralf Thomas expressed his pleasure at the significant progress made in optimizing their portfolio through the sale of Innomotics to...
Siemens and CSA

Siemens Limited Announces ₹1000 Crore Capex

0
In a statement, Siemens announced that it is expanding its factory operations in Goa to address the rapidly growing demand for essential industry components. Siemens...