LeEco Like Xiaomi Will Assemble smartphones in India, Invests $7 Million
Joining peers such as Xiaomi, Vivo and Gionee, Chinese handset maker LeEco will assemble its smartphones in India, investing Rs 50 crore in the facility. Set up in partnership with Compal Electronics, the facility in Greater Noida will have an initial capacity of 60,000 units a month.
This will be ramped up to 2,00,000 by the end of December.
"We have partnered with Compal for the facility and will start with the assembly of Le2. We will invest Rs 35 crore to start with and have earmarked another Rs 12-15 crore for the ramp-up," LeEco COO Smart Electronics Business Atul Jain said.
He added that the facility, spread over 2,00,000 sq ft, will provide jobs to nearly 200 people. "India will be a global export hub... We are already there in China, Hong Kong and will soon star...