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Smartphone production JV to be created in Uzbekistan

Business Materials 17 February 2012 16:29 (UTC +04:00)

Uzbekistan, Tashkent, February 17/ Trend D. Azizov

Uzbektelecom and the Indian OliveTelecommunication Pvt. Ltd. have signed constituent documents with the OliveTelecom joint venture to produce smartphones, CDMA-450 standard modems, tablet PCs and Internet boxes, the Uzbek company reports on Friday.

The project costs $6 million and will be implemented at the Navoi Free Industrial Economic Zone (FIEZ). The production is planned in the second half of 2012.

The first phase plans the production of 5,000 units per year.

The project also provides for localizing production and gradually increasing its share in production development.

To date, Uzbektelecom and OliveTelecommunication Pvt. Ltd have invested $973,000 in OliveTelecom's statuary fund.

Navoi FIEZ was established upon a presidential decree in December 2008. Its functioning term is 30 years.

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