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Electronics manufacturing services company Optiemus Electronics on Tuesday announced a strategic partnership with Apple's contract manufacturer Wistron to boost production.
Optiemus Electronics Ltd (OEL) Managing Director A Gururaj said Wistron will invest Rs 1,350 crore over the next 3-5 years under an agreement signed between the two companies.
OEL expects to generate revenue of Rs 38,000 crore in the next 3-5 years and create 11,000 jobs.
"Demand for electronics has been growing. Production Linked Incentive (PLI) scheme has started a new chapter in the Indian electronics manufacturing sector.
"With partnership with Wistron, Optiemus will focus on manufacturing of mobile devices, personal computers, electric vehicles etc. Optiemus and Wistron Corporation will jointly explore the possibilities of catering to both domestic and overseas customers through OEL's manufacturing facilities," Gururaj said.
OEL has two manufacturing plants in Noida, Uttar Pradesh with a total combined manufacturing capacity of 20 lakh devices per month.
OEL has worked with Blackberry, LG, HTC, Jio etc. It is a subsidiary of listed firm Optiemus Infracom.
Wistron was earlier a joint venture partner of Optiemus.
Gururaj said both the firms have come again together to address the boom in the electronics manufacturing sector.
Wistron is making the entire investment of Rs 1,350 crore under the agreement, Gururaj said.
"These (Rs 38,000 crore revenue) projections are based on a PLI scheme drafted by the government in which a target has been set. The investment of Rs 1,350 crore will be invested in mobile phones and telecom products over a period of 3-5 years," Optiemus Infracom Chairman Ashok Kumar Gupta said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Tue, August 24 2021. 15:39 IST