Google’s $1 billion acquisition of Infineon Technologies makes sense for India, says CEO
Google has acquired Infineons Infineonics for $1.9 billion, with the acquisition giving it a foothold in the Indian mobile market.
In India, Google had long been looking to take advantage of the country’s fast-growing market, which had seen the rise of more than one billion smartphone users in the past five years.
The Google acquisition gives Infineonic a major foothold in India, where it has about 10 million users and a market share of over 30%.
Infineonal is already one of India’s top smartphone vendors, with sales reaching about 10.5 million devices per month, with InfineON Technologies now a key component of its strategy.
Infineons CEO Rajeev Shukla said the acquisition was an investment in the future of the company, and added that the team would continue to grow and evolve as part of Google.
“We are delighted to see Google making this strategic investment in Infineoni,” ShukLA said in a statement.
“This is a clear signal to our valued Indian partners that the next-generation of innovation is coming and they should be looking at us to build out their own applications for Android and iOS.
We look forward to working with them and helping them to scale the innovation ecosystem in India.”
The announcement comes on the heels of Google’s acquisition of Motorola Mobility earlier this year for $12.5 billion.
While the Motorola acquisition was a direct result of Google, Google has said that it wanted to expand into new verticals as it looks to scale its global reach.
As a result of its acquisitions, Google is now a major player in the $200 billion smartphone market, with an estimated 10.6 million smartphones sold in the first quarter of 2018.
Although Infineonen’s products are generally considered to be more affordable, it’s still in a class of its own when it comes to offering a truly affordable device.
Its smartphone line-up has been highly praised by customers, and in addition to its flagship phones, the company has recently announced plans to launch two more phones.
With a focus on offering a product that is affordable for consumers, it will also offer the option of paying less for the devices it sells, which will further help it in achieving its aim of reaching millions of consumers.
This is in line with Infinionic’s stated goal to be the “world’s cheapest Android phone”.
The company has also said that the acquisition will help expand its offerings, and also help it attract and retain key partners.
“As part of this acquisition, Google will also be acquiring the intellectual property of Infinetons.
We are delighted that the two companies will work together to make these two companies even more innovative and successful,” said a statement from Infineón.
A large number of Infinone technologies, including the Infineont X-Band Wireless Wireless and the Infinont 3G Mobile Broadband Technology are already being used by companies such as Infineona, Infineono, Infinetonic, Infinonic, and Infineone, and it has been in the smartphone space for more than 20 years.
Infineones own products are used in the handsets of a number of high-profile brands in India including Bharti Airtel, Idea Cellular, Tata Teleservices, Idea, and Vodafone.
Earlier this year, Infinión announced a new initiative to build an online community that it said would help it build an app ecosystem in which it can “sell more and more of our products to the world”.
In a recent interview with Bloomberg, CEO Rajeesh Bhattacharya said that there was a big opportunity for the Infineton brand, with a focus of helping the world reach its potential.
Bhattachary said that he expected Infinetonics products to “continue to grow, evolve and scale with Google”.
“We have invested heavily in the brand to continue to deliver great services to our customers,” he said.