Knocking Down the Bone Pile: Gold Mitigation for Class 2 Electronics
Punching Out: Your Financial Preparation for a Sale
Nolan's Notes: The Next Killer App in Component Manufacturing
Tekmart Buys ZTE's Mobile Phone Manufacturing Assets in India
October 20, 2015 | Tekmart International, Inc.Estimated reading time: 1 minute
Tekmart International, Inc. announced the recent purchase of the PCB assembly assets of ZTE’s only manufacturing facility in India located in Manesar, a township of India’s Haryana state. According to Nigel Thomas, Director of Business Development for Tekmart, ZTE, a Chinese multinational telecommunications equipment company headquartered in Shenzhen, China, is divesting all of the location’s automated circuit board assembly capability that was previously planned for the mass production of mobile handsets.
ZTE is one of the top 5 manufacturers of mobile handsets in China, and top 10 globally. “The decision to liquidate high-volume circuit board assembly capability from this facility comes one year after ZTE India announced they were eyeing this Manesar location as a production centre for the 4.2 million phones the Chinese company plans to sell in India, annually. ZTE changed its course and decided to focus on the expansion of their advanced repair services of telecom products.”, according to Tekmart’s Asia Regional Manager, Kai Chang.
“The production assets we acquired from the ZTE facility are very capable equipment, very similar to what you would find on the production floor of Nokia, Samsung and Microsoft.”, Chang continued. In India, ZTE’s mobile phone sales is in fourth place, trailing behind South Korea’s Samsung, and two of India’s home-grown brands - Micromax and Karbonn.
The asset management division of Tekmart International has recently engaged in expanding its footprint in trading and surplus asset management. The division, which made the acquisition with ZTE, will rationalize the well-maintained assets of the Chinese manufacturer’s facility, located one hour outside of New Delhi, to its global client base. This acquisition comes at the wake of Tekmart’s acquisition of the production assets from a Foxconn injection molding plant in Hungary two months ago, and less than a year after the acquisition of Nokia’s mobile phone production lines the Finnish company had in Changwon, South Korea.
About Tekmart
Tekmart is a diversified industry leader utilizing a two-pronged approach to its business strategy: capital asset trading – buying and selling high-technology capital assets from the manufacturing floors of some of the most recognizable global OEM’s in the industry; and contract manufacturing through its subsidiary Tekmart Integrated Manufacturing Services (TIMS), which operates manufacturing facilities in Brazil and Mexico.
Share on:
Suggested Items
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
05/09/2025 | Andy Shaughnessy, Design007 MagazineTrade show season is wrapping up as we head into summer. Where has the time gone? I hope you all get the chance to take a vacation this year, because I know you’ve earned one. Speaking of which, when was my last vacay? If I can’t remember, it’s probably time for one. It’s been a busy week in electronics, with fallout from the back-and-forth on tariffs taking up most of the oxygen in the room. We have quite an assortment of articles and columns for you in this installment of Must-Reads. See you next time.
Kaynes Technology Acquires Canada-Based August Electronics
05/09/2025 | PRNewswireAugust Electronics Inc. is pleased to announce that it has entered into a definitive agreement to be acquired by Kaynes Canada Limited, a wholly owned step-down subsidiary of Kaynes Technology India Limited, a leading Electronics System Design & Manufacturing (ESDM) company. The transaction is expected to close by the end of May 2025, subject to customary regulatory approvals and closing conditions.
Localized Automation Becomes a Tariff Storm Safe Haven, but U.S. Smart Factory Build-Out Costs Far Exceed China’s
05/09/2025 | TrendForceTrendForce’s latest “Human-Machine Technology Report” points out that although the 90-day delay on the U.S. reciprocal tariffs announced by the Trump administration in early April 2025 offers temporary relief, it has already triggered lasting shifts in global manufacturing and supply chain strategies.
Primech AI Plans Production of 300 HYTRON Robots through its China Manufacturing Expansion
05/09/2025 | Globe NewswirePrimech AI Pte. Ltd., a subsidiary of Primech Holdings Limited announced a significant expansion of its manufacturing capabilities through a strategic manufacturing partnership in Guangdong Province, China.
Ultrahuman Expands its American Factory’s Manufacturing Capacity
05/09/2025 | GlobeNewswireUltrahuman, a pioneer in health optimization technology, has announced that it’s ramping up its capacity of the Ring AIR. Ultrahuman’s manufacturing facility (UltraFactory) in partnership with SVtronics, a US-based electronics manufacturing business, has been operational in Plano, Texas, since November 2024.