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Vivo to export made-in-India smartphones from 2022 – Business Today

Smartphones

Accelerating growth in the Indian market, smartphone giant Vivo is scaling up its footprint in the country and intends to commence export of ‘Made-in-India’ hardware starting this year. From the current production capacity of 50 million units, Vivo plans to increase annual production capacity to 60 million units the year and aims to scale the manufacturing capacity further to 120 million units annually in India. Currently, the company is meeting 100 per cent of its local demand by smartphones manufactured in India.

Of the proposed manufacturing investment plan of Rs 7,500 crore, Vivo hopes to complete the investment of Rs 3,500 crore by 2023 to scale up its manufacturing capacity. “We will be scaling up the manufacturing in our existing unit that has been set up in Greater Noida, which we started in 2015 with a vision to contribute to the government’s ‘Make in India’ initiative. All the devices that Vivo is selling in the market are manufactured in India. Secondly, we have already acquired 169 acres of land in Greater Noida. We are in the process of developing that manufacturing plant,” Paigham Danish, Director Business Strategy, Vivo India told Business Today.

The company had a capacity to manufacture almost 140,000 phones daily, which translates into nearly 50 million devices by the end of 2021 annually.

“It has been an enriching journey of 7 years in India, and it is heartening to be showered by love by millions of consumers across India. As a brand, our goal is to reach new heights and expand in order to diversify our business portfolio. Scaling up our operations in India is a step in that direction. We are humbled by people’s trust in us,” adds Danish.

Vivo also plans to increase local sourcing of components like chargers to 75 per cent by 2024 from the current 60 per cent. It also plans to source 65 per cent displays locally by 2023.

Currently, Vivo is providing direct and indirect employment opportunities to around 1.4 lakh Indians and will be able to create another 40,000 jobs opportunities through the Rs 7,500 crore investment. The company claims to have created a socio-economic impact on the lives of 1.6 million Indians.

Also read: Apple rules super premium smartphone market; 81% market share in CY 2021: CMR

Also read: Vivo V-series smartphones launched in India: Check out price, specs

Source: https://www.businesstoday.in/technology/news/story/vivo-to-export-made-in-india-smartphones-from-2022-322951-2022-02-17

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