Oppo invests over Rs 1,400 crore to build industrial park in India
The construction of the park is expected to be completed in 2-3 years and will be able to produce 50 million mobile phones initially.
China-based smartphone maker, Oppo plans to invest 1.5 billion yuan or about $216 million (around Rs 1,471.5 crore) in India. The investment will be used into building a 1,000 acres industrial park in Greater Noida which will house its manufacturing unit, according to reports from China-based Caixin.
The construction of the park is expected to be completed in 2-3 years. The manufacturing unit will be able to produce 50 million mobile phones initially.
Oppo already has its manufacturing operation in Noida. The company is further looking grow its position in the Indian market on the success of its smartphone sales in the country.
The Indian market has overtaken the US in 2016 to become the second-largest smartphone market with a base of 275 million devices.
Some of the other Chinese smartphone companies such as Lenovo, Xiaomi and OnePlus too have a strong presence in the country and Oppo is looking to gain the upper hand.