Chinese Smartphone Maker Oppo is planning to invest $216 million in setting up an industrial park in Greater Noida which would be similar to the company’s park in Dongguan, China. The industrial park in Greater Noida will include an in-house manufacturing unit for Oppo.
Sky Li, VP of Oppo and MD of international mobile business and President of Oppo India said that the industrial park is spread over 1,000 acres of land in northern city Greater Noida and involves ventures of about 1.5 billion RMB (Renminbi) yuan or about $216 million. He said, Oppo will focus on client encounter for gaining market share.
Oppo already has its factory in Greater Noida. The proposed industrial park is expected to become operational by two or three years.
According to global industry body GSMA, India has overtaken the US in 2016 to become the world’s 2nd largest Smartphone market with an installed base of 275 million devices.
Chinese cell phone makers are eagerly investing in India, however, India’s Smartphone market is growing at a steady pace.
GSMA has also predicted that the Indian mobile industry is expected to include nearly 1 billion users by 2020, compared with 616 million users in June 2016.
With the world class infrastructure, Greater Noida is attracting more n more smartphone makers like Oppo, LeEco, Vivo, Micromax to invest on setting up their facilities in the region. Smart city Greater Noida has the scope of opportunities and investments for multinational companies.