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Xiaomi announces a $200 million investment for Holitech, its parts supplier in India

Xiaomi has managed to position itself very well around the world, enjoying great success outside of China, its homeland, so much so that the main market of this company is India. This country has proven over time to be the key market of the Chinese giant since its debut in 2014, where it surpassed the big companies like Samsung, managing to become the number one provider of smartphones in the nation. Knowing this, Xiaomi has decided to find a way to consolidate its progress, so it has decided that its key component supplier, Holitech, will have a factory in India.

Also Read: Xiaomi Redmi S2 Unboxing: The Best Selfie-centric 1000-Yuan Smartphone

A new way in the Indian market

From Xiaomi they wanted to give a statement about the investment, which indicated that the parts manufacturer would be located in Tirupati, in the southern state of Andhra Pradesh. The statement quotes: “Holitech will manufacture components such as camera modules, thin film transistors, and fingerprint sensors. The movement that is in line with the vision of the Indian government could generate an investment of $2.5 billion and create up to 50,000 jobs in India. “

Xiaomi - Holitech

Change in Smartphones prices thanks to Holitech

When taking this into account, it should be remembered that New Dehli created a 10% tax on all imports of smartphones, including populated printed circuit boards. This means that this measure will not only create jobs and boost the economy of the country but will also directly affect the prices of mobile phones as fewer taxes will be paid. With all this knowledge, Holitech is expected to begin production in the first quarter of 2019, with the main objective of generating a total of 6,000 jobs in 3 years.

Xiaomi

The proof that Xiaomi wants to continue progressing in its best market today is in its constant investment, not only worrying about increasing its production but also they want to help India by generating a large number of jobs and improving its economy.

If you want to know more about the latest in devices, computers, smartwatches, gadgets and new products in general or if you want to keep informed of the latest news about Xiaomi and the latest advances in technology, you can follow us on our social networks on Facebook and Twitter to keep in contact.

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