New Delhi: Leading global smartphone maker Vivo on Wednesday announced plans to start exporting ‘Made in India’ smartphones from this year, as part of a proposed manufacturing investment plan of Rs 7,500 crore for the country. In , the company is likely to be completed. 3,500 crore investment by 2023 to enhance its manufacturing capacity.
Vivo said it aims to increase the annual production capacity to 60 million smartphone units from the current 50 million and start exports by 2022. In addition, Vivo said it will enhance local sourcing of components such as chargers and displays.
“Consumers are at the core of everything we do and it is our priority to provide them with the best-in-class premium experience. It has been an enriching journey of seven years in India, and it is heartening to be loved by us. It is showering millions of consumers across India,” said Paigham Danish, Director Business Strategy, Vivo India.
“As a brand, we aim to reach new heights and expand by diversifying our business portfolio. Growing our operations in India is a step in that direction,” he added.
The company aims to increase the manufacturing capacity in the country to 120 million units annually in future.
To strengthen its partnership with India and its people, Vivo plans to invest in local sourcing and start exports from India by the end of 2022.
The company on Wednesday released its first ‘India Impact Report 2021’. As per the report, Vivo provides direct and indirect employment opportunities to around 1.4 lakh Indians.
“It made a socio-economic impact on the lives of 1.6 million Indians. In addition, the company made a definite impact on its retail partners by providing a 20 per cent increase in Average Selling Price (ASP), resulting in a 2.5x increase per month. Retailer’s average selling price,” as per the report.
The report also highlights how the company has built a strong distribution of over 1,000 distributors, of whom 98 per cent are Indians.
Vivo said it also creates over 6,000 job opportunities through its master distributors.
Since its entry in 2014, Vivo has seen a steady run in the Indian smartphone market. It had a 25 per cent market share (in mainline retail) in 2021, while maintaining its stronghold in mainline retail, according to GFK data.
The company aims to increase charger localization to 75 percent from the current 60 percent by 2024, and plans to achieve 65 percent of displays locally by 2023.
About 40,000 Indians will be able to get employment with the proposed investment of Rs 7,500 crore. The report says that there are currently 70,000 retailers and over 30,000 Vivo brand ambassadors in the country.
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//$(function() {
var layout = $(content_selector);
var st = 0;
///});
}
}
});
/*}
};*/
})(jQuery);
,