Increased manufacturing capacity in India to start exporting gadgets this year: India Vivo

Increased manufacturing capacity in India to start exporting gadgets this year: India Vivo

Vivo has committed to invest Rs 7,500 crore in India, out of which 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,” Danish said. Vivo had 15 per cent market share in the Indian smartphone segment in the first quarter of 2022 with shipment of 5.5 million devices, according to market research and analysis firm IDC.

According to a senior corporate executive, Vivo India is growing smartphone production capacity in India in order to begin exporting handsets from the nation this year. Paigam Danish, Vivo India’s director of business strategy, told PTI that the company’s flagship device, the Vivo X80 series, will be manufactured in India, where the company plans to increase annual production capacity to 60 million devices per year by the end of this year, up from 50 million in 2021. “We intend to begin exporting from India this year.” That is why we are expanding our production capacity. It would enable us to start exporting’made in India’ items and will be able to meet the demand of the Indian market,” Danish added.

According to a Counterpoint research report, Vivo became the top 5G brand in the Rs 10,000-20,000 price bracket segment in the March 2022 quarter. Danish said that the company’s strategy is to cater to customer needs and be on top of their mind this year to grow the business. He said that the company 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. ”We have grown our share in the premium segment as well. Vivo X80 series is part of our strategy to further strengthen it,” Danish said.

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