Gionee signs MoU with Haryana govt for investment of Rs 500 cr

Posted on:15 Sep 2016 09:39:58
Gionee signs MoU with Haryana govt for investment of Rs 500 cr
15 September 2016 Current Affairs: Gionee mobile phones would now be manufactured in Haryana as the company has signed an MoU with the state government to set up its phone manufacturing hub with an initial investment of Rs 500 crore which, later on, would be increased to Rs 1,500 crore. 

The Memorandum of Understanding (MoU) was signed in the presence of Chief Minister Manohar Lal Khattar and state industries minister Vipul Goel by Chairman, Gionee Mobiles, Liu Lirong and Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) 

Mobile Manufacturing Hub would be set up over an area of 40-50 acres in Faridabad and would provide employment to 28,000 people in next three years. 

This would be a major project in Faridabad and more such projects would come up in other areas of the state.

Gionee : Gionee is a Chinese smartphone manufacturer based in Shenzhen, Guangdong. Founded in 2002,it is one of China’s largest mobile phone manufacturers. According to Gartner, its market share in China was 4.7% in 2012, and it has expanded into other markets, including Taiwan, India, Bangladesh, Nigeria, Vietnam, Myanmar, Nepal, Thailand, the Philippines and Algeria.

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