Salcomp, a Finland headquartered company and one of Apple’s major component suppliers, has bought Nokia’s defunct handset facility for around Rs 215 crore. The manufacturing facility is expected to create over 10000 jobs.
The shut down of this factory in 2014, had resulted in a job loss for around 8000 workers. This factory was Nokia’s largest production facility outside Europe, and had started operations in 2006. The property was under asset freeze, considering tax dispute with Nokia, by the state tax department preventing it from being taken over by any manufacturer. The freeze was lifted earlier in 2018 paving a way for its sale.
It is learnt that Salcomp has plans to invest Rs 2,000 crore ($278.67 million) over the next five years to make chargers and other components at the plant. Salcomp also develops and manufactures adapters for mobile phones and other electronic devices. The company is owned by Lingyi iTech, a Chinese, Shenzhen Stock Exchange listed company with sales of more than USD 3 billion in 2018.
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