Apple and Sunny Opotech, a division of Zhejiang, China-based Sunny Optical Technology, has agreed to establish a $300 million facility there.
“We are going to roll out the project in different phases till 2026. We have not decided on where to locate this facility. We are going to firm up our plans soon. It will cater to both mobile phones and laptops and computers of Apple,” Welly Liu, President of Sunny Opotech India.
He said the agreement with Apple will propel the revenues from India to $3-4 billion from the present level of $300 million. The company is already producing camera modules for Android phones at its Tirupati facility in partnership with Celkon (Seven Hills) for the last three years. Sources said the association will continue for the project for Apple.
“Camera modules for Apple are of high value. The new investment will help the overall strategy to increase the revenues of the camera module business unit (BU) to $10 billion by 2026 from the present $3.5 billion,” he said.
