Micromax forms joint venture with Phisons, to invest Rs 1,000 crore in memory chip
Gurugram-based Consumer electronics firm Micromax has joined hands with Taiwan-based Phison to form a joint venture (JV) named MiPhi. The JV will invest around Rs 1,000 crore to expand its manufacturing operations in India.
The investment will go towards expanding the existing facility in Greater Noida. As per the update, the firm expects rapid growth over the next two to three years, riding on the AI boom with a rising demand for memory solutions from AI infrastructure, data centres, enterprises, and the automotive sector.
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