Taiwan's Wistron, the world's No. 2 contract manufacturer, has formed a joint venture with Optiemus Infracom that will invest around $200 million (Rs.1,320 crore) over five years to make smartphones, tablets and smart devices in India.
This will make Wistron the second global contract manufacturing major after Foxconn to set up shop in the world's fastest-growing smartphone market.
Wistron is a global manufacturing partner for HTC and BlackBerry, while Optiemus is a smartphone distribution firm and counts Apple among its major global clients.
Initial investment of the JV -80% owned by Optiemus and the rest by Wistron -will be towards a smartphone assembling unit under construction in Noida that will be operational by March 2016, Optiemus managing director Ravinder Zutshi said. The plant, which will have an initial annual capacity of 18 million devices, will start by assembling HTC's devices. “We plan to provide services to all our clients out of this plant,“ Robert Hwang, president at Wistron, said. “We are talking to all our global partners. India as a market is very important for us.“ “The announcement of the JV is just the first step.
He indicated that the Taiwanese company may look at establishing more plants in the country.
By 2017, India is expected to over take the US as the second-largest smartphone market globally , according to research firm IDC. The market is expected to grow in double digits over the next few years as more and more people switch to smartphones and gradually upgrade to 4G-enabled phones.
Wistron is currently talking to a few more global handset players that would be visiting the upcoming facility, Zutshi said, adding the JV has already got into agreements with some global handset players.
This will make Wistron the second global contract manufacturing major after Foxconn to set up shop in the world's fastest-growing smartphone market.
Wistron is a global manufacturing partner for HTC and BlackBerry, while Optiemus is a smartphone distribution firm and counts Apple among its major global clients.
Initial investment of the JV -80% owned by Optiemus and the rest by Wistron -will be towards a smartphone assembling unit under construction in Noida that will be operational by March 2016, Optiemus managing director Ravinder Zutshi said. The plant, which will have an initial annual capacity of 18 million devices, will start by assembling HTC's devices. “We plan to provide services to all our clients out of this plant,“ Robert Hwang, president at Wistron, said. “We are talking to all our global partners. India as a market is very important for us.“ “The announcement of the JV is just the first step.
He indicated that the Taiwanese company may look at establishing more plants in the country.
By 2017, India is expected to over take the US as the second-largest smartphone market globally , according to research firm IDC. The market is expected to grow in double digits over the next few years as more and more people switch to smartphones and gradually upgrade to 4G-enabled phones.
Wistron is currently talking to a few more global handset players that would be visiting the upcoming facility, Zutshi said, adding the JV has already got into agreements with some global handset players.
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