GS Group says to invest 3.5 bln rbl to make smartphones, devices

MOSCOW, Jun 28 (PRIME) -- Russian investment and industrial holding company GS Group will invest 3.5 billion rubles in development and production of smartphones and computing equipment, the company said on Wednesday in a statement.

“GS Group expands its competences in manufacturing of electronics and announces the launch of a new business, development and production of smartphones and computing devices…Production will start already this year,” the company said.

The products will be made under brands of the customers under the original design manufacturer model, when the factory-producer designs and makes an item itself under the customer’s requirements.

GS Group focuses on the business-to-business segment and works with large companies from the industries of oil, gas, banking, and others.

(85.0504 rubles – U.S. $1)

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