From 2022, Vivo intends to export 'made in India' smartphones

Leading global smartphone manufacturer vivo announced on Wednesday that it will begin exporting'made in India' smartphones this year, as part of a proposed Rs 7,500-crore manufacturing investment plan for the country. The company also said that it expects to complete a Rs 3,500-crore investment to scale up its manufacturing capacity by 2023 as part of its proposed Rs 7,500-crore manufacturing investment plan for the country.

Vivo plans to boost yearly production capacity to 60 million smartphone units, up from 50 million now, and start exporting in 2022. Vivo also stated that it will enhance local component procurement, like as chargers and displays.

"Consumers are at the core of everything we do and delivering a best-in-class premium experience to them is a priority for us. It has been an enriching journey of seven years in India, and it is heartening to be showered with love by millions of consumers across India," said Paigham Danish, Director Business Strategy, vivo 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," he added.

The company aims to scale the manufacturing capacity to 120 million units annually in the country in the future.

"To strengthen its partnership with India and its people, vivo plans to invest in local sourcing and start exporting from India by the end of 2022," it added.

The business launched its first-ever 'India Impact Report 2021' on Wednesday. According to the research, vivo employs over 1.4 lakh Indians in direct and indirect jobs.

"It created a socio-economic impact on the lives of 1.6 million Indians. Furthermore, the company made a definitive impact on its retail partners by providing 20 per cent growth in average selling price (ASP), resulting in a 2.5 times growth in the retailer's average sales value per month," according to the report.

The company has created a strong distribution network of over 1,000 distributors, with 98 percent of them being Indians, according to the article.

Vivo claims that its master distributors create more than 6,000 job opportunities.

Vivo has had a consistent run in the Indian smartphone market since its launch in 2014. According to GFK data, it had a significant 25% market share (in mainstream retail) in 2021, retaining its grip in mainline retail.

By 2024, the business hopes to have 75 percent of chargers made in the United States, up from 60 percent now, and 65 percent of displays made in the United States by 2023.

The anticipated Rs 7,500 crore investment will provide work for over 40,000 Indians. According to the research, the country presently has 70,000 stores and over 30,000 vivo Brand ambassadors.