Optiemus to invest ₹300 cr in mobile manufacturing over 3 years

Electronic manufacturing services firm Optiemus plans to invest ₹300 crore in the next 2-3 years in the glass ecosystem and mechanical items related to mobile phone manufacturing in the country, a top official of the company said on Wednesday.

Optiemus is one of the 16 companies to have received approval from the government under a production-linked incentive (PLI) scheme on Tuesday.

“Towards fulfilment of its absolute commitments to enhance value addition, Optiemus has already decided to invest up to ₹300 crore over the next 2-3 years in the glass ecosystem and mechanical items manufacturing especially in areas to support display assembly, back cover, etc,” Optiemus Electronics chairman Ashok Gupta said in a statement.

Optiemus has worked with Oppo, OnePlus, LG, HTC, Blackberry, Reliance Jio and Zen to make their devices in its Noida facility.

Electronic manufacturing services firm Optiemus plans to invest ₹300 crore in the next 2-3 years in the glass ecosystem and mechanical items related to mobile phone manufacturing in the country, a top official of the company said on Wednesday.

Optiemus is one of the 16 companies to have received approval from the government under a production-linked incentive (PLI) scheme on Tuesday.

“Towards fulfilment of its absolute commitments to enhance value addition, Optiemus has already decided to invest up to ₹300 crore over the next 2-3 years in the glass ecosystem and mechanical items manufacturing especially in areas to support display assembly, back cover, etc,” Optiemus Electronics chairman Ashok Gupta said in a statement.

Optiemus has worked with Oppo, OnePlus, LG, HTC, Blackberry, Reliance Jio and Zen to make their devices in its Noida facility.

Apart from Optiemus, domestic companies whose proposals have been approved include Lava, Bhagwati (Micromax), Padget Electronics (Dixon Technologies) and UTL Neolyncs.

Industry body India Cellular and Electronics Association, whose members include Apple, Foxconn, Wistron, Lava, Optiemus, said the approval for Indian companies is a fair hand dealt and each company has got one approval.

ICEA Chairman Pankaj Mohindroo said, “Now, the challenge is: Can these future Indian champions build core design and brand capabilities and also scale up to become globally competitive or some of them use it tactically and fade out with the PLI incentive. A leap in mindset is required and I am sure that once bitten, twice shy, they have learnt their lessons.”

MAIT President Nitin Kunkolienker said the new strategy of export-led growth will help create expansion of manufacturing in India and will help to achieve scale.

“This will also help in expanding the value chain of components. Further, this will also enable Indian manufacturers of both finished products and components to participate in global value chains,” Kunkolienker said. Hindustan Times