Despite facing complaints from rival Foxconn International Holdings (FIH), BYD Electronic, a manufacturer of mobile handset casings and keypads, will continue its expansion projects by building up plants in India, Hungary, Romania in addition to its home market, China, according to market sources.
BYD Electronics, a spin-off of China-based handset battery maker BYD Group, completed its initial public offering at the Hong Kong Stock Exchange on December 20. The IPO was marred by accusations that BYD has been using confidential information belong to Foxconn International Holdings. The FIH-BYD lawsuit is still pending at the Beijing High People’s Court. BYD Electronics’ new investments in China and India will total $50 million each, whereas investments in Hungary and Romania will reach $10 million and $30 million, respectively, the sources noted. The company’s new plants in China and India will commence commercial operations in the Q1 of 2008, while those in Hungary and Romania are slated for mass production in the Q2, said the sources. (digitimes.com)