China's leading technology company, Xiaomi, opened a factory in Istanbul on Monday alongside supply giant Salcomp. The firm announced its plan to open the factory with an investment of $30 million in February; Turkey is the fourth country where Xiaomi has production facilities.
"Turkey offers important opportunities for foreign investors due to its dynamic labour force and strategic location," said President Recep Tayyip Erdogan during an online address at the opening ceremony. He stressed that the country is open for foreign investment in research and development, and design centres.
Xiaomi's smartphones produced in Turkey will be on the market from next month. The 14,000-square-metre factory will have the capacity to produce five million devices annually. Two thousand jobs have been created, noted Erdogan.
According to Irfan Öztürk, Xiaomi Turkey's deputy manager, the company will initially focus on smartphone production while also working on other products and carrying out feasibility studies.
"We are particularly working on opportunities to produce televisions," he told Bloomberg.com. "We can start production if we find an opportunity to present Xiaomi televisions to customers at fair prices."