Vivo India plans to increase its production capacity
Vivo India plans – 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.
Vivo has pledged to invest Rs 7,500 crore in India by 2023, with Rs 3,500 crore already invested. From the overall budget, the corporation had invested Rs 1,900 crore through 2021.
Vivo India plans
“This production capability would surpass 120 million (devices) annually with the Rs 7,500 crore investment that we have previously suggested. It would be used not just for Indian market needs, but also for export,” Danish explained.
According to market research and analysis firm IDC, Vivo had a 15% market share in the Indian smartphone segment in the first quarter of 2022, with 5.5 million handsets shipped.
Vivo became the top 5G brand in the Rs 10,000-20,000 price bracket sector in the March 2022 quarter, according to a Counterpoint research analysis.
Danish stated that the company’s plan for growth this year is to adapt to consumer needs and be in the forefront of their minds.
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