China’s Coolpad to invest $500 million in India to grow business; eyes 5G share

NEW DELHI: Chinese handset maker Coolpad will invest $500 million in India in the next five years to strengthen its presence and to take on its rivals in the 5G landscape whenever the telecom ecosystem is commercially ready in the country.

The company has last week appointed Fisher Yuan as its new India chief executing officer to drive growth for the handset business. He has been tasked by the management to create a strategic roadmap for market penetration.