LeEco launches $7 bn smartphone manufacturing unit in India

5 Dariya News

New Delhi 30-Aug-2016

Joining the bandwagon to begin manufacturing in India, global internet technology conglomerate LeEco on Tuesday launched a state-of-the-art $7 billion smartphone manufacturing unit in Greater Noida.Spread over 200,000 square feet area and having a capacity to produce nearly 60,000 phones per month initially, the unit already employs over 200 professionals. LeEco is also investing $2 million for the automation process at the facility."As the market size for electronics is expected to grow to $400 billion by 2020, it is imperative to promote indigenous manufacturing. LeEco is a name of global reputation and it is heartening to see it align with 'Make in India' after entering India just eight months earlier," said Information Technology (IT) and Electronics Minister Ravi Shankar Prasad.

The Minister, who inaugurated the unit at a function in the capital, said the government hails LeEco's efforts to train local talent and build a centre of research and development excellence in the country.LeEco plans to ramp up the production to approximately 200,000 "superphones" per month by the end of this year. The company has collaborated with leading electronics manufacturer Compal Electronics to set up the facility."India is top priority in LeEco's global expansion roadmap. Our investments here -- be it manufacturing plant or our R&D centre that will train hundreds of local talent -- demonstrate that we are here for the long haul," said Tin Mok, Vice President of Le Holdings and CEO of LeEco Asia Pacific.