Taiwan’s Wistron Corp (緯創) yesterday signed a letter of intent with India’s Optiemus Infracom Ltd to invest US$200 million in a joint venture including the establishment of an assembly plant in India in the next five years.
“Over the next five years, the partners will strategically invest approximately US$200 million in top-of-the-line infrastructure, technologies and processes to cater to the growing demand from India and the rest of the world toward telecom products like smartphones, tablets and smart devices,” the two companies said in a joint statement.
“With our extensive expertise in the ICT [information and communications technology] sector and our partner’s unique local market understanding, we plan to significantly grow and nurture the Indian techno market,” Wistron president and chief operating officer Robert Hwang (黃柏漙) told a news conference in New Delhi.
Wistron said the venture is to invest its capital in stages in accordance with a five-year business plan.
“The first installment of the investment accounts for less than 20 percent of the joint venture,” a Wistron official who declined to be named told the Taipei Times.
The official said other than partnering in a joint venture, the two companies plan to set up a manufacturing plant in the state of Uttar Pradesh in northern India.
“The plant will initially manufacture smart devices, such as smartphones and tablets,” the official said.
The official said Wistron has been providing after-sales services in India for years, but this is the first time the Taiwanese electronics maker steps into India’s manufacturing sector.
“Wistron hopes to expand its reach in India by partnering with Optiemus,” the official said.
Optiemus managing director Ravinder Zutshi was quoted by the Economic Times as saying that the manufacturing plant with Wistron is expected to become operational in March next year, with an annual production capacity of 18 million devices.
Zutshi said the joint venture has signed agreements with various international handset makers and is waiting for mandates from them.
He also said that Wistron is in talks with other global handset companies that would be visiting the manufacturing plant in India and might afterward sign contracts with the joint venture.
Optiemus affiliate Global Devices Network produces smartphones for Optiemus’ brand Zen Mobiles and Taiwan’s HTC Corp (宏達電) in manufacturing plants outside of Uttar Pradesh.
The Economic Times said Optiemus is to transfer its HTC production line to the new manufacturing plant with Wistron after March next year, while its existing plant is to solely make devices for Zen Mobiles.
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