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.