LeEco to invest $7 million for local manufacturing – Feedback

LeEco plans to make 400,000 smartphones a month in India by the fiscal end as it begins making phones locally in partnership with Taiwan’s Compal Electronics, yet another boost for the government’s Make in India program.

The Chinese internet ecosystem company will start with making 60,000 Le 2 smartphones on a monthly basis, from a 200,000 sq ft assembling facility in Greater Noida immediately. “We’re investing about $5 million in the plant and another $2 million will be used for automating it, while Compal will make its own significant investments,” Atul Jain, chief operating officer of smartphone business at LeEco India told ET Tuesday, hours before IT and law minister Ravi Shankar Prasad remotely inaugurated the facility. For contract manufacturer Compal Electronics, the Greater Noida facility will be its first step in India, and fifth globally after Poland, Mexico, Brazil and China.

http://economictimes.indiatimes.com/tech/hardware/leeco-to-invest-7-million-for-local-manufacturing-partner-compal-electronics-makes-india-entry/articleshow/53928790.cms

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