Smartphone maker Vivo India is growing smartphone manufacturing capability in India to begin exporting gadgets from the nation this 12 months, a senior firm official stated on Thursday.
Vivo India director, enterprise technique, ‘Paigam Danish told PTI that the company will make its flagship device Vivo X80 series also in India where it plans to increase annual production capacity to 60 million devices per annum by end of this year from 50 million in 2021.’
“This year we have plans to start exporting from India. That is the reason why we are increasing production capacity. It will be able to cater to the demand of the Indian market as well as enable us to start exporting ‘made in India’ products,” Danish stated.
Vivo has dedicated to take a position Rs 7,500 crore in India, out of which it has already invested Rs 3,500 crore by 2023. The firm had invested Rs 1,900 crore until 2021 from the full outlay.
“By the investment of Rs 7,500 crore, which we have already proposed, this production capacity will reach 120 million (devices) annually. It is not just for Indian market needs but it will also be leveraged for export,” Danish stated.
Vivo had 15 per cent market share within the Indian smartphone phase within the first quarter of 2022 with cargo of 5.5 million gadgets, based on market analysis and evaluation agency IDC.
According to a Counterpoint analysis report, Vivo grew to become the highest 5G model within the Rs 10,000-20,000 value bracket phase within the March 2022 quarter.
Danish stated that the corporate’s technique is to cater to buyer wants and be on prime of their thoughts this 12 months to develop the enterprise.
He stated that the corporate has constructed a community of over 70,000 retailers through the years and enhanced product expertise for the shoppers, which is able to assist the corporate obtain management place in India.
“We have grown our share in the premium segment as well. Vivo X80 series is part of our strategy to further strengthen it,” Danish stated.
Source: www.financialexpress.com”