In what’s being touted as the most important funding by a marquee firm after the formation of Telangana, Qualcomm shall be investing $400 million (Rs three,000 crore) in organising its largest campus outdoors headquarters, San Diego, US, in Hyderabad, IT minister KT Rama Rao’s workplace stated on Saturday.
The semiconductor and telecommunications big, which already has a presence in India via its centres in Hyderabad, Bengaluru and Chennai, is anticipated to kick off work on its Hyderabad campus in 2019.
The first section of the mission is slated to embody a built-up house of 1.7 million sft housing about 10,000 staff, KTR stated after a gathering with senior Qualcomm officers right here.
Qualcomm, which started operations in Hyderabad in 2004, at present has a headcount of round four,000 staff within the metropolis and occupies a number of flooring in six leased buildings.
Terming the Qualcomm funding as an enormous enhance for Telangana and its semiconductor and electronics sector, KTR stated: “By setting up its mega campus in Hyderabad and its largest globally after its HQ in San Diego, Qualcomm now joins the elite list of companies that have their largest presence globally outside of their headquarters in Hyderabad. We have Apple, Amazon, Google, Microsoft, Facebook and now Qualcomm. This list will only increase as there are a few more in the pipeline that we are working actively with. This is indeed a big boost to Telangana, the electronics, and semiconductors industry and the ecosystem of operators, OEMs, regulators, startups and R&D engineers.”
‘$400 million investment for Hyd campus’
A launch issued by KTR’s workplace stated Qualcomm’s vicepresident, engineering, Shashi Reddy and operations director Chandra Shekar Kumili instructed the minister that the $400 million funding by Qualcomm shall be its largest globally.
“The Qualcomm officials said the company is playing a key role in driving the wireless revolution by making mobile communications more accessible and affordable. This facility by Qualcomm will be its largest campus globally after its San Diego headquarters and the US$ 400 Million investment by Qualcomm in Hyderabad will be its largest globally. Qualcomm is leading the world in 5G and it envisions the next big change in cellular technology spurring a new era of intelligent, and connected devices and new opportunities in connected cars, remote delivery of healthcare services and IoT,” the discharge stated.
The Qualcomm, which posted a turnover of over $22 billion in 2017, has places of work, R&D and growth facilities world wide at a number of websites within the US, India, Israel, Singapore, China, and western Europe.