Apple supplier Salcomp buys Nokia’s Chennai phone unit for just Rs 215 crore

New Delhi: Salcomp, one of Apple’s major component suppliers, has bought Nokia’s defunct handset factory near Chennai for close to $30 million (Rs215 crore), setting the stage for the revival of what was once India’s poster child for local manufacturing but which was shut down in late 2014 after a tax dispute between the Finnish company and local authorities.
“We are happy to confirm that we have reached an agreement with Nokia for the purchase of their facility in Sriperumbudur near Chennai,” Salcomp said in an emailed statement to ET.
“We thank the authorities for their cooperation and support thus far and remain hopeful of their continuing support as we secure necessary clearances to complete the transaction at the earliest, and restart manufacturing from this factory building,” the company said.