Vivo to start exporting 'Made in India' smartphones from 2022
Vivo stated that it plans to boost yearly production capacity to 60 million smartphone devices, up from the existing 50 million, and to begin exporting in 2022. Furthermore, Vivo stated that it will improve local sourcing of components like as chargers and screens.
FollowLeading global smartphone manufacturer Vivo announced plans on Wednesday to begin exporting 'made in India' smartphones this year, adding that as part of its Rs 7,500-crore proposed manufacturing investment plan for the country. The company expects to complete a Rs 3,500-crore investment by 2023 to scale up its manufacturing capacity.
Vivo stated that it plans to boost yearly production capacity to 60 million smartphone devices, up from the existing 50 million, and to begin exporting in 2022. Furthermore, vivo stated that it will improve local sourcing of components like as chargers and screens.
"Consumers are at the heart of all we do, and providing them with a best-in-class premium experience is a top focus. It has been a wonderful seven-year adventure in India, and it is great to be showered with affection by millions of Indian consumers," Paigham Danish, Director Business Strategy at Vivo India stated.
"Our objective as a brand is to grow and expand in order to broaden our company portfolio. Expanding our activities in India is a step in the right path," he continued.
In the future, the corporation intends to increase its production capacity in the nation to 120 million units per year. "To enhance its engagement with India and its people, vivo intends to invest in local sourcing and begin exporting from India by the end of 2022," the company said.
The business launched its first-ever 'India Impact Report 2021' on Wednesday. According to the report, Vivo employs over 1.4 lakh Indians directly and indirectly. The report also emphasised how the firm has created a strong distribution network of over 1,000 distributors, with 98 percent of them being Indians. Vivo also stated that its master distributors generate over 6,000 job opportunities.
Since its debut in the Indian smartphone market in 2014, Vivo has maintained a consistent presence. The business intends to raise charger localisation to 75% by 2024, up from 60% currently, and to source 65% of screens locally by 2023. Almost 40,000 Indians would be able to find work as a result of the anticipated Rs 7,500 crore investment. According to the research, there are presently 70,000 merchants and over 30,000 vivo Brand ambassadors throughout the nation.
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