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LeEco invests US$ 7 million on manufacturing plant in India

Times of India:  August 31, 2016

Chennai: Within eight months of its launch in India, Chinese technology company LeEco sets up manufacturing facility at Greater Noida. Partnering with Compal Technologies, the company has set up the plant with an investment of $7 million dollars. The plant was inaugurated on Tuesday by Minister of Information Technology Ravishankar Prasad.

"This is our contribution to the Make in India initiative. The facility has a capacity to manufacture 60,000 phones and is planning to expand the assembly lines to a capacity of 2 lakh phones by December," said Atul Jain, COO, smart electronics business, LeEco. At present the facility would manufacture Le2 phones, following which the company will look to including other products.

Employing 200 personnel in the plant, the company looks to hire more staff in line with the increase in capacity. "The plant will currently manufacture for India, but we look to making it an export hub. Phones, which are currently imported, would be manufactured in the plant," said Jain.

The company has sold over 2 lakh phones in the last two months and 10 lakh phones (1 million) - overall in India. LeEco also sells TVs, headphones, speaker, VR headsets, chargers and other mobile accessories.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.