China’s mobile component company forays into ap

Vijayawada: China’s Holitech Group on Monday said that it will set up a production facility in Tirupati, Andhra Pradesh, with an investment of Rs 1,400 crore ($200 million) to supply mobile phone components like camera modules and touch panels to smartphone major Xiaomi.

Spread over 75 acre, the facility is expected to be operational in the first quarter of 2019, providing employment to about 6,000 people at full-scale in the next three years.

“We will set up the plant in two phases with phase I starting in January where we will invest $100 million and phase II, an additional $100 million. The facility will cater exclusively to Xiaomi,” Holitech Tech-nology CEO Guisheng Chen said.

He added that the facility will have an annual capacity of 50 million component sets at the end of phase I and ramp it up to 100 million within three years’ time.

The components that will be made at the Tirupati facility include camera modules, TFT (thin film transistor), flexible printed circuit, touch panels and fingerprint modules.