LeEco India has launched a smartphone manufacturing facility in Greater Noida. Collaborating with Compal Electronic, the facility has been set up at an investment of $5 million. A further $ 2 million has been earmarked for the automation process.
The Union Minister for Electronics & Information Technology and Law & Justice, Ravi Shankar Prasad launched the facility in the presence of Atul Jain, COO of Smart Electronics Business for LeEco India.
Inaugurating the facility, Prasad said, “With the objective of making India the manufacturing hub for electronics, the Indian Government has undertaken various initiatives to create a conducive businesses environment. 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 just after entering India eight months earlier. We laud their efforts of training local talents and building a centre of R&D excellence in the country.”
LeEco also announced that it had crossed the 1 million sales mark - within 8 months - for smartphones in India.
Tin Mok, Vice President of Le Holdings and CEO of LeEco Asia Pacific said, “Our investments here - be it our manufacturing plant or our R&D centre that will train hundreds of local talents - all demonstrate that we are here for the long haul. Our ultimate objective is to offer our users more and more locally manufactured products that are customized to Indian consumers’ needs. We have a strong R&D team in India and plan to add over 1,000 engineers to it by the next year, which we intend to leverage for designing and developing products that resonate even better with our users here and also in overseas markets.”
Atul Jain, COO of Smart Electronics Business at LeEco India, said, “This indeed is a historic moment for us as we translate our intent of aligning with the Government’s Make in India initiative with investment and other commitments. We are proud to have established our local manufacturing facility within 8 months of entering the country, which is well ahead of schedule. Also, the 1 million milestone marks our strong mobile phone presence in the Indian market.”
Based in Greater Noida, the facility is spread over an area of 2 lakh sq. ft and has a capacity to produce 60,000 phones per month initially. LeEco plans to rapidly ramp up the production to approximately 2 lakh phones per month by the end of 2016.