Asus today announced that it has partnered with Foxconn to begin local manufacturing of smartphones in Sri City in Andhra Pradesh, a move that will help the Taiwanese tech major bolster its presence in the burgeoning Indian handset market.The company, which will kickstart manufacturing operations with Zenfone 2 Laser followed by ZenFone Go, aims to manufacture 1.5 lakh smartphones a month by the end of the current financial year.
This will account for almost 80 percent of sales in India.No financial details were, however, disclosed.
“India offers us a huge opportunity as smartphone penetration is just 10 per cent. We are excited to announce our local manufacturing facility that will cater to the growing demands of the market,” Asus India Country Manager (System Business Group) Peter Chang told PTI.
India, one of the fastest growing smartphone markets globally, is poised to overtake the US as the second-largest market in next few years. Shipments in India grew 44 percent to 26.5 million units in April-June, says the data by research firm IDC.
Also, over the past few months, global smartphone makers like Xiaomi, Motorola and Gionee have commenced assembling their handsets in India, where the government is pushing local manufacturing through its ‘Make in India’ initiative.
“It is an opportune time to make the announcement as it will enable us to bring our cutting edge products to consumers who are looking for features and design sensibilities of a high-end smartphone at an economic price,” he said.
Chang added: “We are aggressively targeting the Indian market. We aim to achieve five per cent market share in the country by next year.”
Infinix has launched the Infinix Hot 60 5G+ smartphone in India. Infinix Hot 60 5G+…
Vivo has launched Vivo T4 Lite 5G in India, which has the same specs as…
OnePlus has launched OnePlus Nord CE5 smartphone with 7100mAh Battery. Check out Specs, features, and…
OnePlus has launched the OnePlus Nord CE5 in India. Check out the Specs, Price, and…
Samsung has launched the Samsung Galaxy Z Flip7 and the Galaxy Z Flip7 FE. Samsung…
Samsung has launched the Samsung Galaxy Z Fold7 foldable phone at its Galaxy Unpacked event…