China-based handset manufacturer Coolpad has stated that it will invest over $300 million in setting up a smartphone manufacturing unit in India. The company will also collaborate with Videocon Telecom to manufacture smartphones and intends to produce 500,000 devices from the operator’s manufacturing facility. The company asserted that its first Made-in-India smartphone will be available in the first quarter of 2016.

Coolpad was earlier selling the smartphones under the Dazen brand in a collaboration with Chinese search engine service provider Qihoo 360. However, the company has stated that Dazen is no longer a part of the company though the smartphone will continue to be sold in India.