Vivo is increasing smartphone production capacity in India to start exporting devices this year, PTI news report said.
Vivo India director, business strategy, Paigam Danish said that the company will make its flagship device Vivo X80 series also in India where it has increased annual production capacity to 60 million devices per annum from 50 million in 2021.
“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,” Paigam Danish said.
Vivo has committed to invest Rs 7,500 crore in India. It has already invested Rs 3,500 crore by 2023. The company had invested Rs 1,900 crore till 2021 from the total 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,” Paigam Danish said.
Vivo had 15 percent market share in Indian smartphone segment during the first quarter of 2022 with shipment of 5.5 million devices, according to IDC.
Smartphone shipment of Vivo declined 17 percent in Q1. It continued to lead in the offline channel with 24 percent share in 1Q22. With the launch of the new T series and additions to its sub-brand iQOO, its online shipments are expected to see movement in upcoming quarters, IDC said.
Vivo became the top 5G brand in the Rs 10,000-20,000 price bracket segment in the March 2022 quarter, according to a Counterpoint research report.
Vivo has built a network of over 70,000 retailers over the years and enhanced product experience for the customers, which will help the company achieve leadership position in India.
