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Salcomp buys Nokia’s handset factory in Chennai

Tuesday, 26 Nov 2019
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Salcomp, component supplier of mobile manufacturer Apple, has purchased Nokia’s defunct handset factory near Chennai, Tamil Nadu, for around USD 30 million (Rs 215 crore).

The company has reached an agreement with Nokia for the purchase of their facility in Sriperumbudur near Chennai.

The company is expected to begin operations at the plant by March 2020. It is expected to increase the exports to around USD two billion by investing USD 300 million over the next five years.

Once fully functional, the new facility is expected to generate employment for around 10,000 people. The company currently operates two units in the same special economic zone in Sriperumbudur and employs around 7,000 people.

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