Optiemus Electronics Limited announces investments of approximately INR 1350 Crores with targeted revenues of over INR 38,000 Crores and employment generation of around 11,000 in next 3 to 5 years across multiple product segments
In a major milestone towards building an Atmanirbhar Bharat by making India a global hub for electronics manufacturing, Optiemus Electronics Limited (OEL), a leading homegrown company engaged in manufacturing of next-generation electronic products today signed an MoU on a Strategic Partnership to form a unique alliance to strengthen ties with the USD$30Bn Taiwan Headquartered Wistron Corporation’s Indian subsidiary Wistron Infocomm Manufacturing (India) to manufacture mobile devices, IT hardware and Automotive- EV products. The strategic alliance will offer a unique proposition in Indian Electronics Manufacturing Services (EMS) market backed by joint product development, engineering capabilities, software and firmware development besides giving a boost to employment generation in the country. The alliance will also work towards creating a joint hub in India for Design Solutions Product Development apart from bringing smart manufacturing to India.
Apart from manufacturing mobile phones, the alliance will also work towards design and manufacturing of tablets, laptops, hearables/wearables, telecom products, IoT/Industrial IoT, smart meters/devices and automotive-EV products. The alliance will as well focus on the expansion of design eco-system in India. Currently, Optiemus has PLI for both Mobile phone manufacturing and IT hardware manufacturing and plans to significantly increase its investment to INR 1,350 Crores in the next 3 to 5 years.
OEL targets to achieve a revenue of approximately INR 38,000 Crores in multiple product segments while ramping up its manpower significantly to reach a figure of around 11,000 in the next 3 to 5 years.
Optiemus Electronics Limited currently has two manufacturing plants in Noida, Uttar Pradesh with a total combined manufacturing capacity of about 2 million devices per month. OEL and Wistron alliance will be able to offer Taiwanese technology at optimized cost and PLI sharing, all under one roof. Through this partnership, Optiemus and Wistron Corporation will jointly explore the possibilities of catering to both domestic and overseas customers through OEL’s manufacturing facilities.
New Delhi, August 24, 2021
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