Chinese Smartphone Giant Xiaomi to Invest in Turkey | FASTENER EURASIA MAGAZINE
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Chinese Smartphone Giant Xiaomi to Invest in Turkey


 Turkey has secured its position as a manufacturing and export hub for Asia-based global companies.

 Following investment decisions of its Chinese peers, the global smartphone giant Xiaomi has been reported to enter Turkish smartphone market with a two-phased investment plan. Xiaomi mulls a USD20-million-investment in the first phase. A factory in Istanbul with 2,000 employment is also on the agenda. 

 In the second phase, the Chinese giant’s investment volume is projected to reach USD 30-40 million. It was also announced that Xiaomi would apply for a certificate to benefit from Turkey’s investment incentive opportunities. 

 Lastly, in January, Tecno Mobile – another China-based smartphone manufacturer – decided to allocate more than USD 25 million to produce its smartphones in Turkey, following in the footsteps of Huawei and Oppo.