Xiaomi component supplier Holitech to Make in Andhra, will invest $200 mn

Chinese mobile phone company Xiaomi announced on Monday that Holitech Technology, its key component supplier, will start component manufacturing in India.
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Holitech has signed a MoU with the Andhra Pradesh government to set up a manufacturing facility at Tirupati for Xiaomi.
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Holitech will invest nearly $200 million over three years and will be the first manufacturer in India to produce camera modules, thin film transistors (TFT), capacitive touch screen module (CTP), flexible printed circuits (FPC) and finger print sensor locally, the company said.
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The local manufacturing by one of its key component suppliers will give a further cost advantage to Xiaomi, which is currently producing a major chunk of its India-made (MI) smartphones in Andhra Pradesh’s Sri City industrial park through Foxconn.