Published: Tue, November 26, 2019
Markets | By Otis Pena

Many units in Nokia Telecom SEZ may reopen by March 2020

Many units in Nokia Telecom SEZ may reopen by March 2020

Salcomp India has raised capacity across its three factories in the country to 150 million chargers a year, investing Rs 200 crore in the past two years. The unit will produce charger and other equipment, and will boast of a diversified portfolio. We welcome Apple ... expand your operations in India.

Many think that the iPhones produced in India are for this market only.

To that end, Reuters reports today that a Finnish company named Salcomp will invest almost $279 million over five years to fix up a former Nokia handset factory in India. It would create 10,000 jobs, Prasad said. The development comes at a time when Apple has begun commercial production of iPhone XR at the Foxconn facility in Chennai and plans to start making the latest iPhone 11 variant here.

Apple last month started selling its iPhone XR model assembled in India by the local unit of Foxconn It also assembles the iPhone 7 model in India through Wistron's local unit in the tech hub of Bengaluru. We got a confirmation in October this year that 'Assembled in India' units were being seen at retail outlets across India.

Apple India recorded a net profit of Rs 262.27 crore in the year ended March 2019, while its revenue from operations were at Rs 10,538.25 crore for 2018-19, as per regulatory documents.

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Globally launched previous year, iPhone XR is being manufactured at Apple supplier Foxconn's facility in Sriperumbudur, Chennai and iPhone 7 and 6S being assembled at supplier Wistron's facility in Bengaluru.

Reports quote the minister as saying that the plant will directly employee up to 10,000 people and another 50,000 indirectly.

The widening of Apple's supplier base in India, the world's second-biggest smartphone market, is a boost to Prime Minister Narendra Modi's "Make in India" drive. "Apple mobile phones being manufactured in India will be used for domestic market and will also be used for export". It will lead to a lot of value addition.

Prasad also said that the Indian iPhone will also be exported to the worldwide market. "I have also instructed officers to accelerate this", he said.

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