Zetwerk to Invest Rs 1,000 Cr in Expanding Electronics Manufacturing Business

• ByStartupStory     |    April 10, 2024

In a bid to bolster its presence in the electronics manufacturing sector, esteemed unicorn Zetwerk has announced a substantial investment of Rs 1,000 crore. This investment is earmarked to fuel the expansion of its electronic manufacturing capacity, encompassing a diverse array of products including IT hardware, television, mobile phones, hearable, and wearable devices.

Zetwerk aims to solidify its position as a premier original design manufacturer and electronics manufacturing services provider, particularly focusing on mobile phones, hearables, and wearables. In a statement, the company declared, “The company is now producing one device a second from its factories. It has earmarked Rs 1,000 crore investments to grow its Electronics business.”

The ambitious plan entails scaling up capacity from 16 assembly lines at its Noida facility in Uttar Pradesh to an impressive 60 assembly lines spread across six manufacturing facilities. This expansion will incorporate surface-mount technology lines and PCB assembly, catering to the burgeoning demand in the market.

With a valuation of $2.8 billion (approximately Rs 23,300 crore), Zetwerk reported operating revenue of around Rs 11,450 crore in the financial year 2023. The company is strategically ramping up its capabilities, particularly in the computer devices segment at its Bangalore facility. This facility will specialize in manufacturing motherboards, desktop PC power supplies, and other electronic components for major multinational corporations and original equipment manufacturers.

Commenting on the transformative potential of India’s electronics manufacturing sector, Zetwerk Electronics President Josh Foulger remarked, “Zetwerk views India’s electronics manufacturing sector as experiencing a transformative shift, akin to a Y2K moment, that will propel the nation towards a flourishing Viksit Bharat (developed India). Through this significant capacity expansion, we aim to act as the ‘teen powerhouse’ of Viksit Bharat.”

In addition to its existing endeavors, Zetwerk has ventured into the television and display devices business by establishing one of North India’s largest TV manufacturing facilities. This facility boasts a production capacity of 24 lakh units annually, catering to both domestic and international brands.

Follow Startup Story