Electronics manufacturing services firm Optiemus Electronics on Tuesday proclaimed a strategic partnership with Apple's contract manufacturer Wistron to boost production.
Optiemus Electronics Ltd (OEL) Managing Director A Gururaj stated Wistron would invest Rs 1,350 crore over the next 3-5 years under an agreement signed between the two companies.
OEL expects to produce 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 stated.
OEL has two manufacturing plants in Noida, Uttar Pradesh with a total collective manufacturing capacity of 20 lakh devices per month.
OEL has worked with Blackberry, LG, HTC, Jio etc. It is a subsidiary of listed company Optiemus Infracom.
Wistron was earlier a joint venture associate of Optiemus.
Gururaj said both the companies 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 added.
"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 stated.