Yesterday evening, Infineon issued a progress announcement on the establishment of subsidiaries for foreign investment.
According to the announcement, on April 27, 2017, Infineon announced that it plans to set up a wholly-owned subsidiary in India with a total planned investment of no more than 2.75 million US dollars in order to further develop overseas markets and meet the needs of the company's strategic development.
Yesterday, Infineon announced the latest progress. Recently, the company has completed the registration procedures for wholly owned subsidiaries in India and received the registration certificate. The Indian subsidiary is named INVENTRONICS SSL INDIA PRIVATE LIMITED with a registered capital of 2.5 million rupees. Business scope includes the production of switching power supply and related electronic products; warehousing, distribution and sales of home-made products, providing sales, technical services and after-sales support.
Infineon said that India has great potential in the LED lighting market. The company's opening factories in India is in line with the current trend and is also conducive to further expand the Indian market. The establishment of Indian subsidiary is an important deployment for the company to explore the emerging markets in South Asia, including India. Depending on the company's existing technology, platform, market, capital, brand and other advantages, if Indian subsidiary can operate smoothly, it will further enhance the market share of Intel LED drive power products in South Asia and have a positive impact on the long-term development of the company's business.