Smartphone maker Vivo India is increasing smartphone production capacity in India to start exporting devices from the country this year, a senior company official said on Thursday.
Vivo India director, business strategy, Paigam Danish told PTI that the company will make its flagship device Vivo X80 series also in India where it has increased annual production capacity to 60 million devices per annum from 50 million in 2021.
"This year we have plans to start exporting from India. That is the reason why we are increasing production capacity. It will be able to cater to the demand of the Indian market as well as enable us to start exporting 'made in India' products," Danish said.
Vivo has committed to invest Rs 7,500 crore in India, out of which it has already invested Rs 3,500 crore by 2023. The company had invested Rs 1,900 crore till 2021 from the total outlay.
"By the investment of Rs 7,500 crore, which we have already proposed, this production capacity will reach 120 million (devices) annually. It is not just for Indian market needs but it will also be leveraged for export," Danish said.
Vivo had 15 per cent market share in the Indian smartphone segment in the first quarter of 2022 with shipment of 5.5 million devices, according to market research and analysis firm IDC.
According to a Counterpoint research report, Vivo became the top 5G brand in the Rs 10,000-20,000 price bracket segment in the March 2022 quarter.
Danish said that the company's strategy is to cater to customer needs and be on top of their mind this year to grow the business.
He said that the company has built a network of over 70,000 retailers over the years and enhanced product experience for the customers, which will help the company achieve leadership position in India.
"We have grown our share in the premium segment as well. Vivo X80 series is part of our strategy to further strengthen it," Danish said.
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