Tech Desk, AnyTV, New Delhi
Published by: Pradeep Pandey
Updated Thu, 17 Feb 2022 05:20 PM IST
Summary
Vivo said that it will soon produce parts such as chargers and displays locally. With this investment, Vivo’s smartphone manufacturing capacity in India will reach 60 million by the end of 2022.
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Expansion
The company will invest up to Rs 3,500 crore by 2023 in the expansion of the production unit. Vivo said that it will soon produce parts such as chargers and displays locally. With this investment, Vivo’s smartphone manufacturing capacity in India will reach 60 million by the end of 2022.
A company statement said that it is currently providing direct and indirect employment to about 1.4 lakh Indians. The company has strengthened its distribution by adding more than 10,00 distributors. 98% of the distributors are Indian.
Commenting on the announcement, Paigum Danish, Director (Business Strategy), Vivo India said, “This investment is part of the Rs 7500 crore commitment the company made to India. We have invested a total of Rs 1,900 crore till 2021.
Let us tell you that Vivo entered the Indian market in 2014. According to a recent report, Vivo has maintained its strong hold in mainline retail and has achieved 25% market share in 2021. Vivo has more than 100 million customers in 28 states and 8 union territories of the country. Vivo has a manufacturing plant in Greater Noida.