Telecom technology provider Optiemus Infracom Ltd has entered into a joint venture (JV) agreement with Wistron Corporation, a Taiwan-based original design manufacturer (ODM), to set up manufacturing facilities for telecom products in India.
Both the companies will together invest about $200 million in the JV over the next five years in developing infrastructure, technologies and processes to cater to growing Indian and global demands of telecom products via smartphones, tablets and smart devices.
The partnership aims to provide a complete end to end solution to global and Indian brands encompassing manufacturing infrastructure, distribution, retail and after sales, Optiemus Infracom said in a statement.
The JV also targets to create over 15,000 employment opportunities in India over the next five years.
“With this partnership, we are committed to make available world class technology products at affordable prices for global and local brands,” said Ravinder Zutshi, Managing Director, Optiemus Infracom.
“Embarking on this new journey, we intend to emerge as one of the top three third party manufacturers in the country in the next five years. Our collective expertise in design, manufacturing, distribution, retail and after sales services will provide a holistic solution for brands in India,” Zutshi added.
By 2017, India is expected to overtake USA to be the second largest smartphone market globally, as per research firm IDC. The market is expected to continue to grow in double-digits over the next few years as more and more people switch to smartphones and gradually upgrade to 4G-enabled phones.
“We are excited to enter the world’s fastest growing smartphone market with our partner, Optiemus Infracom Limited. We are confident that by leveraging each other’s strengths, we will be able to bring innovation and value at a faster pace to the end consumers,” said Robert Hwang, President & COO, Wistron Corporation.