Contract electronics maker Hon Hai Precision Industry Co will manufacture cellphones under the Nokia brand in India next year, according to India's Economic Times.
The report cited Hon Hai's head of India operations, Josh Foulger, as saying that the group is set to expand its operations in India, and rolling out devices under the Nokia name is to be part of that effort.
The report said that Hon Hai has invested about US$600 million in India.
Hon Hai, which is known as Foxconn Technology Group, teamed up with Finland's HMD Global Oy earlier this year to acquire cellphone assets under the name Nokia from Microsoft for US$350 million.
As part of Indian Prime Minister Narendra Modi's "Make in India" initiative, Hon Hai has drafted a massive investment project in which the Taiwanese manufacturing giant aims to set up 10 to 12 production plants in India by 2020 to turn the country into one of its global production hubs.
Under the program, the private sector and the government have drawn up a 10-year road map until 2025, which covers all electronics component categories, including semiconductors.
International business media earlier reported that Chinese Xiaomi Corp would work with Hon Hai to build two factories in India. |