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Wistron expanding investment in India
Source: DIGITIMES   Editor: AVA   Update Time :2019/1/2 18:44:37

Wistron has increased the authorized capital of its subsidiary in India, Wistron InfoComm Manufacturing (India), to INR30 billion (US$430.62 million) to meet its future development in the country, according to a company filing with the Taiwan Stock Exchange (TWSE).

Wistron InfoComm Manufacturing currently has a paid-up capital of INR1.8 billion, Wistron said in the filing in response to a Chinese-language Commercial Times report, saying that the company is expanding its investment in India in order to ramp up the production capacity of its plant in Narasapura, with the first-phase expansion project slated for completion in the first half of 2019.

Wistron was one of the assemblers of Apple's iPhone SE and iPhone 6S smartphones previously, and the current expansion project is being implemented to minimize impacts on OEM production triggered by the recent US-China trade dispute, said the report.

In addition to the production of smartphones, Wistron is also moving part of its PC, IoT, medical and cloud service businesses to India, the report added.

However, Wistron said that the authorized capital will be reimbursed based on the progress of its operations and business developments in India and it will make an announcement in accordance with relevant regulations.

 

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