Chinese smartphone maker Gionee plans to invest INR5 billion, which is about CNY495 million, to build a smartphone factory in northern India.
This new smartphone factory will be put into production within two years. Gionee previously signed a memorandum with the local government in Haryana, India. The products made in this factory will not only target the Indian market, but Southeast Asia will also become one of its major markets.
Located in Haryana, India, Gionee's new factory will have an area of 200,000 square meters. At the same time, the Chinese company continues to enhance its investments in India and it expects to achieve annual production capacity of 30 million units, with total investments of INR15 billion.
Gionee entered the Indian market in 2013 and the company had claimed to seize 5% market share in the Indian smartphone market. At present, Gionee's monthly smartphone sales in India are over 500,000 units and they hope to achieve monthly sales of one million smartphones before the end of this year. For Gionee, India is their second largest market following China.