Reliance Jio in Talks with US Company Flex for Smartphone Production
One of the largest Indian conglomerate Reliance Jio Infocomm is in talks with US contract manufacturer Flex for locally producing about 100 million mobile phone handsets as the Mukesh Ambani-owned telco seeks to rapidly enhance its market share by signing on the majority of those users now using feature phones.
“Jio is in advanced discussions for a large order and that has caused a stir in the market, even prompting Flex to negotiate some tax benefits with the government in the SEZ where its factory is located,” a person familiar with the matter said.
Another person said that Flex currently has the capacity to manufacture around 4-5 million devices per month at its factory in the special economic zone (SEZ) near Chennai.
Any move by ...