Spice has announced that it will set up a manufacturing unit in Uttar Pradesh and has made an investment of Rs 500 crore in order to meet up with affordable phone demand of consumers.
Samsung India has also announced to set up manufacturing plants in Noida by investing an amount of Rs 517 crore under the UP Mega Policy.
Spice’s manufacturing unit will contribute to make India Digital movement of Modi. The devices will cost around Rs 5000 and the manufacturing will start by the end of this year. Also the handsets made will be released in emerging markets of Asia and Africa.
Spice has signed an Memorandum of Understanding (MoU) with the UP government under whose terms, Spice will get government support in establishing the facility in UP.
For maintaining Global Quality Standards, a real-time basis online monitoring system has been set up which will be providing as much support in facilitating the process as is accurately possible.
The facilities by Spice will allow lower costs in shipping and transportation of the handsets along with having a wide range of devices to buy from for the buyer.
It is a crucial factor that the growth in component ecosystem is maintained, so that India can also achieve the Digitalized country level an example of which was shown by China, where it’s villages were converted into tech hubs.
The company has a current sale rate of around a million handsets a month and is generating revenue worth Rs 150-200 crore a year.
Now what’s left to notice is the fact that will the quality of the product be maintained even with lower prices or the decline in costs will also result in the handsets being more prone to easy and early damage and cheaper quality?Tags: Cheaper handsets, Spice invests Rs 500 crore