/Xiaomi supplier Holitech to invest $200 Million in Manufacturing in India

Xiaomi supplier Holitech to invest $200 Million in Manufacturing in India

xiaomi

Xiaomi has announced that Holitech Technology, its component supplier, will start component manufacturing in India. Holitech Technology has signed an MoU with the state of Andhra Pradesh and will start local manufacturing in the city of Tirupati for Xiaomi.

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. We are pleased to bring several industry firsts to the state of Andhra Pradesh with the manufacturing of camera modules, TFT, CTP, FPC and fingerprint sensors and high quality clean room construction and take propel the growth of component manufacturing in India. We hope to further boost this initiative by setting an example for other component manufacturers, and being a part of Xiaomi’s growth in India.”

Holitech Technology would be investing nearly USD 200 Million over three years in the country and would be the first manufacturer in India manufacturing Compact Camera Modules (CCM), Thin Film Transistor (TFT), Capacitive Touch Screen module (CTP), Flexible Printed Circuits (FPC), and fingerprint sensor locally. The local manufacturing is likely to start by Q1 2019 and it aims to generate 6000 jobs in three years.

This comes shortly after Xiaomi India organized a first of its kind global Supplier Investment Summit in April 2018. The objective of this summit was to encourage its top 50 global suppliers to locally manufacture in India.

Holitech was founded in 2004 produces Liquid Crystal Displays, Liquid Crystal Display Modules, Touch Screens, Fingerprint recognition, Smart Wearable Products, intelligent Vehicle Products, Intelligent Micro Controller, Intelligent TLI/TFT Modules, Embedded Display Modules etc.

The component manufacturing plant at Tirupati will start mass production of nearly 50 million each component per year.

Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India said, “Xiaomi has witnessed significant growth in the country and we are positive that Holitech’s plans for India will set a new motion in place for the electronics manufacturing industry in India. Holitech is an important global component supplier of Xiaomi and with their entry in India; we are positive that a new era of local manufacturing will begin with several job creations and other component manufacturers also coming in.”

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