Intex to shell out Rs. 1,000 Crores for setting up a manufacturing unit in Greater Noida

By October 5th, 2015 AT 3:47 PM

Many global smartphone manufacturers have been planning to invest in India, taking inspiration from them India-based manufacturer, Intex has also decided to invest a whopping sum of Rs 1,000 Cr in India. The company has planned to set up a manufacturing facility in Greater Noida, Uttar Pradesh.

Intex Aqua Style X

Following the reports, the manufacturing facility will be set up under a timeline of three years, and will be spread across an area of 20 lakh square feet. Intex is looking at a capacity of producing 35 million phones, and it will increase the production profile to LED televisions, washing machines and computer peripherals too.

Amitabh Khurana, Intex Technologies Head, Manufacturing said to a national daily that Intex began its operation in India in the year 2001, and is now eying on boosting production in India and to manufacture around a million units every month. Presently, the company owns four manufacturing units in the country, with two units located in Jammu, one in Himachal Pradesh, and the other in Noida, Uttar Pradesh. Moreover, Intex is also planning to invest Rs 500 crore in the research and development projects over coming few years.

As per IDC, Intex is the third largest smartphone manufacturer in India with 11% of market share in the smartphone market. The company is targeting two-fold growth in the revenue, up to Rs. 8,000 Cr in the current financial year, 85% of the revenue accrued from its mobile division. India is slowly and steadily gaining momentum in the field of manufacturing, with many global and national manufactures like LG, Lenovo, Motorola, Micromax, Asus, Vivo, HTC, Sony, Microsoft, Karbonn, and Celkon already announcing their plan to take up manufacturing devices in India.

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