Xiaomi’s component supplier Holitech to invest $200 million in India

Chinese smartphone maker Xioami announced that Holitech Technology, one of its main component suppliers, will start component manufacturing in India.

Holitech Technology signed a MoU with Andhra Pradesh today in Amaravati in the presence of to start component manufacturing at Tirupati.

The Holitech Technology will invest nearly $200 million for manufacturing camera modules, thin film transistor, capacitive touchscreen module, flexible printed circuits, and fingerprint sensor to provide 6000 jobs in three years.

Speaking on the occasion, Chief Minister N Chandrababu Naidu said the company starting major operations for the first time outside China.

He said AP has more potential with abundant resources and infrastructure. He said a better ecosystem was created in the state to encourage industries.

The component manufacturing plant would be spread across 75 acres of land in the city of Tirupati and start production with nearly 50 million components per month.

Manu Jain, vice president, Xiaomi, and Managing director, Xiaomi India said: "Holitech is an important global component supplier of Xiaomi and with the entry in India a new era of local manufacturing will begin with several job creations."

Flame Chen, co-founder, and CEO, Holitech Technology said, "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 cleanroom construction and take propel the growth of component manufacturers 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."