Chinese handset maker Vivo will invest over Rs 4,000 crore in India in the coming years, a company official said.
The company has so far invested Rs 400 crore in the country. The existing manufacturing plant at Noida is operating at full capacity to produce 2.5 crore mobile phones every year.
In view of the increasing demand, the company will invest Rs 4,000 crore in the coming times and set up a new factory in Greater Noida to meet the demand, Nipun Marya, Director - Brand Strategy, Vivo India told reporters at a press conference here.
He said the company will invest the amount in a phased manner. The company's manufacturing capacity will increase to 5 crore mobile phones per year after the new factory becomes operational.
Vivo has a market share of 21.2 per cent in the Indian mobile handset market and is the second-largest mobile brand in the offline market in the country, Marya added.
He said the company does not plan to stop sale any of its existing series of mobile phones and added that it is working on two new handsets for the Indian market.
The company also introduced its new 'S Series' phone Vivo S1 in Rajasthan with price starting from Rs 17,999.