npressfetimg-1312.png

Vivo To Start Exporting ‘Made In India’ Smartphones Soon; To Invest Rs 3500 Crore By 2023 – News18

Smartphones

In a major push towards domestic manufacturing, Vivo India has announced that it will soon start exporting ‘made in India’ smartphones to other countries. “We are ramping up our manufacturing facility in Greater Noida and in 2022, we will soon start exporting Vivo phones from India,” said Paigham Danish, Director Business Strategy, Vivo India in an interaction with News18 Tech. He also stressed that 100% of “all Vivo smartphones sold in India are made in India”.

When asked about which markets and models that Vivo will look at exporting, Danish said, “We are now at a position to export all mobile models that are made in India. The models and countries to which we will export depends on the market demand.”

Watch Video: OnePlus 9 RT Review: At Rs 42,999, You Are Getting A Reliable Flagship Experience

Vivo also said that it is scaling up its annual production capacity to 60 million units from 50 million by the end of 2022. The company also announced that there’s a proposed investment plan of a total of Rs 7,500 crore in its India operations. Out of that Rs 7,500 crore investment plans, Rs 3,500 crore is expected to be invested by the end of 2023.

Also read: First Smartphone From Nothing May Be Powered By Qualcomm Snapdragon SoC, Android 12, Hints Carl Pei

Danish said that the proposed investment plans can generate 40,000 new jobs in India. The company said that 10,000 people are currently employed in its manufacturing facility. Also, it will increase local sourcing of components like chargers and displays. Vivo claimed that 95% of batteries used in its smartphones are sourced from local players.

“We are looking at increasing charger localisation to 75% by 2024 from the current 60%. Also, source 65% displays locally by 2023. We have the capacity to make 1,40,000 phones daily and we have invested more than Rs 1,900 crore in domestic manufacturing ,” he added.

WATCH VIDEO: Indian Buyers Are Spending More On Smartphones Now: Oppo India’s Damyant Singh Tells News18 Tech

Vivo mentioned that for them the offline retail channel for sale is very important and the brand will continue to focus on bettering the retail ecosystem further. “There’s a 5X increase in dealer base between Q1 2016 to Q1 2021. We have over 1000 distributors and around 70,000 retail partners in India. Danish also mentioned that around 100 million Vivo phones users across India.

Read all the Latest News, Breaking News and Assembly Elections Live Updates here.

Source: https://www.news18.com/news/tech/vivo-to-start-exporting-made-in-india-smartphones-soon-to-invest-rs-3500-crore-by-2023-4781219.html

RSS Feeds

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts