Aug 31: Mobile makers seem to be making a beeline for India, and are keen on pumping in money to set up their own manufacturing and R&D facilities in the country. The latest to have hopped on to the invest in India bandwagon is Hong Kong-based mobile phone manufacturer Topwise Communication.
Topwise has lined up plans to invest over Rs 500 crore in India. The investment planned would go into the setting up of manufacturing and Research and Development (R & D) facilities as well as marketing activities for its mobile phone brand Comio. The investment is being planned in the next two years, said a report.
Topwise Communication unveiled three new smartphones in the Indian marketplace yesterday. The company, which currently does contract manufacturing of its mobile phones at Noida, would look at establishing its own manufacturing and R&D facilities on investment of Rs 150 crore.
The remaining Rs 350 crore would go into establishing its own strong and reliable marketing and operational network. This would be in place in the next two year period, the report quoting Topwise Communication officials, said.