Xiaomi pushing for smartphone component suppliers to invest in India

Xiaomi Mi 7 has in-display fingerprint reader

Soon after the commencement of its first Supplier Investment Summit in India today, the Chinese manufacturer announced three new smartphone manufacturing plants in India.

That said, Xiaomi is hosting more than 50 smartphone component suppliers at the ongoing Supplier Investment Summit, and, if all of these suppliers invest in India, it would bring in an investment of ₹15,000 Crores in the country, which is around $2.5 Billion American Dollars.

"We are committed to manufacturing in India".

Xiaomi is gearing up to establish new manufacturing units in Tamil Nadu and Andhra Pradesh. The component suppliers will be visiting the states of Uttar Pradesh and Andhra Pradesh to explore and learn about investment opportunities in India, incentives offered by Center and State governments, FDI policy, industrial policy and various state sector specific policies.

Xiaomi, which is among the top smartphone players in India, started assembly of smartphones in India in 2015 and had two manufacturing units in partnership with Foxconn.

Max Verstappen responds to Lewis Hamilton's 'dickhead' comment
Apart from the few laps after his pit stop, Vettel led all the laps during the Bahrain Grand Prix. It could have been worse for Mercedes driver Hamilton following Verstappen's gung-ho lunge.

Apple's next iPhone display revolution might begin with its mysterious AR glasses
On Monday, when Bloomberg reported Apple was mulling building its own processors for its Macs, Intel's stock fell 5% on the news. The news drove Intel's stock down by almost 9 percent yesterday, the company's largest single intraday loss in two years.

'Mac And Monz' Podcast: Previewing WrestleMania 34
The former WWE World Heavyweight Champion and Intercontinental Champion was recently cleared by doctors, allowing him to return. It appears as if "The Big Dog" Roman Reigns will go in to Suplex City and leave with the promotions coveted Universal Title .

The company didn't share the investment figures for these new facilities. The company will set up these plants in partnership with Foxconn that will be located at Siri City (AP) and Sriperumbudur (TN). The fact that Xiaomi will be making PCBAs locally in the days to come - in fact, the company says it has already started with the manufacturing - means a critical portion of all Xiaomi phones will be locally made in India. These facilities employ almost 10,000 workers, 95 per cent of whom are women. PCBA is one of the most important components of the smartphone, and contributes to almost 50% of the value of the phone.

Xiaomi today announced the opening of three more smartphone manufacturing plants in India, at the ongoing Xiaomi Supplier Investment Summit Event. The company's first smartphone plant was built in partnership with Foxconn in 2015, followed by its second plant in March 2017, and its first power bank plant (in partnership with Hipad Technologies) in November 2017. We believe that this will help our suppliers assess and expand the manufacturing base in the country. Modi wants to turn India into a global manufacturing hub in a bid to boost job growth in Asia's third-largest economy.

Xiaomi manufactures 95% of the phones it sells in India locally and its embrace of Prime Minister Narendra Modi's "Make in India" program have helped it avoid import tariffs that have restricted global rivals.

"We are starting an SMT line for PCB assembly. one of the key challenges that the Indian electronics industry faces is that the local value addition is about 10% of the industry".

The new factories will also result in an increased production capacity of two smartphones per second - as opposed to the earlier one smartphone per second - during operational hours, Xiaomi added.

Related news:

Hot News

isis-killer-beheading-video-story-top Russell Crowe 'divorce auction': memorabilia sold
Apr 10, 2018 - 16:10
Actor Russell Crowe arrives for the Australian premiere of his movie "The Mummy" in Sydney . A telephone bidder took home the leather jockstrap Crowe wore in Cinderella Man for $7000.

isis-killer-beheading-video-story-top Mexico Senate rebukes Trump over border deployment plans
Apr 09, 2018 - 01:07
Many of the Honduran and Salvadorian migrants were attempting to visit embassies and consulates in Mexico, hoping to be recognized as asylum seekers, organizers said.

isis-killer-beheading-video-story-top Real Madrid coach Zidane: No Barcelona guard of honour; they broke tradition!
Apr 09, 2018 - 01:07
If you want a good response to pretty much anything related to either Real Madrid or Barcelona , Gerard Pique is your man. This was yet another performance that showed exactly why he has been attracting admiring glances from around Europe.

isis-killer-beheading-video-story-top Stock Showing Surging Activity: Facebook, Inc. (NASDAQ:FB)
Apr 09, 2018 - 01:02
In other Facebook news, CEO Mark Zuckerberg sold 735,977 shares of the company's stock in a transaction on Friday, September 23rd. The correct version of this article can be read at 2016/12/13/pivotal-research-reaffirms-buy-rating-for-facebook-inc-fb.html.

isis-killer-beheading-video-story-top Dow tumbles on trade war fears
Apr 09, 2018 - 01:00
Trump announced Thursday night that his administration would consider imposing $100 billion more in tariffs on Chinese goods. Dow futures fell after Trump's announcement on Thursday and were down about 300 points, or 1.3%, in after-hours trading.

isis-killer-beheading-video-story-top ICE carries out largest workplace raid in a decade
Apr 09, 2018 - 00:59
During that search, HSI encountered 97 individuals who are subject to removal from the United States, an I.C.E. spokesperson said. Immigration and Customs Enforcement agents arrested almost 100 immigrants in Tennessee on Thursday, The Washington Post reports.

isis-killer-beheading-video-story-top CWG 2018: Punam Yadav gives India fifth weightlifting gold
Apr 09, 2018 - 00:58
In the next singles rubber, Patkar failed to carry on with the momentum, losing 11-13, 2-11, 6-11 to Yu to level the tie at 1-1. Venkat Rahul Ragala yesterday earned India the fourth Gold medal after lifting 338 kilograms in the Men's 85 kg category.

isis-killer-beheading-video-story-top Amazon.com (AMZN) PT Set at $1700.00 by Loop Capital
Apr 09, 2018 - 00:54
Harding Loevner Limited Partnership has invested 0.83% of its capital in Amazon.com, Inc. (NASDAQ:AMZN) for 131,735 shares. The firm has "Buy" rating by M Partners given on Wednesday, February 21. (NASDAQ:AMZN) with "Buy" rating.

Journalist killed by Israeli forces while covering protests
Apr 09, 2018 - 00:51
It has warned that orders given to soldiers about when to open fire have not been changed, despite a storm of global criticism. Rallies are planned to continue through to Nakba Day, the 15 May commemoration of the 1948 ethnic cleansing of Palestine.

isis-killer-beheading-video-story-top Gunners Enjoy Home Comforts As Welbeck Sinks Saints
Apr 09, 2018 - 00:50
Shane Long gave Southampton an early lead that was short-lived after goals from Pierre-Emerick Aubameyang and Danny Welbeck . Iwobi last scored a league goal for Arsenal this season against Crystal Palace on the 20th of January, 2018.

isis-killer-beheading-video-story-top Mayawati lashes out at Amit Shah, says BJP is power-drunk
Apr 09, 2018 - 00:50
However, the special trains were late by two to five hours as the Railways did not run them on priority, BJP workers alleged. Nowadays, opposition to the BJP is growing sharp. "This was a clear message to say - "don't desert", Jondhale said.

isis-killer-beheading-video-story-top Canada mourns dead in junior hockey bus crash
Apr 09, 2018 - 00:47
The tragedy was felt across Canada , where hockey is the dominant sport and many young players take long bus rides to tournaments. According to an online team roster , players range in age from 16 to 21 and many are from Saskatchewan, with two from Humboldt.

isis-killer-beheading-video-story-top Amit Shah, PM Modi only non-animals in country, says Rahul Gandhi
Apr 09, 2018 - 00:47
He said Congress will consider all suggestions given by people across Karnataka while making its manifesto for the polls. The Congress is facing a tough challenge from the BJP in the city and also the JDS in some pockets.

isis-killer-beheading-video-story-top United States and North Korea 'holding secret talks' ahead of meeting
Apr 09, 2018 - 00:43
South Korean emissaries had presented Kim Jong Un's (left) invitation to meet with U.S. president Donald Trump (right). Trump agreed to meet with Kim after a South Korean envoy extended Kim's invitation to the president last month.

isis-killer-beheading-video-story-top Liverpool, Everton draw 0-0
Apr 09, 2018 - 00:41
Jordan Pickford came to Everton's rescue three minutes later by pulling off save to deny Solanke from point-blank range. All game, none of us could understand why they couldn't come down this side.