Oppo India will invest $60 million in the next 5 years to empower enterprises — SMEs and MSMEs — to enhance their operations and strengthen the local supply chain.
Oppo India’s new initiative called Vihaan is aimed at creating a robust smartphone eco-system in the country.
“The forward-looking, industry-friendly policies of the Indian Government have created an enabling environment which nurtures and promotes innovation, unleashing the electronics manufacturing industry,” Vivek Vasishtha, Vice-President, Public Affairs, Oppo India, said in a statement.
“With a robust local supply chain getting established, the time is right for promoting exports of our Make in India smartphones to identified markets. This would facilitate Oppo India in expanding the export capacity to $5 billion over the next five years.”
Oppo India said it has invested heavily to enhance the country’s manufacturing, which has made the company a leader in Make in India smartphone shipments with 22 percent year-on-year growth in the first quarter of 2022, as per a Counterpoint Research report.
Oppo India aims to partner with more local suppliers to strengthen the local supply chain for a robust smartphone ecosystem in India.
The company has collaborated with the government and industry in encouraging around 30 Tier-1 suppliers to set up operations in India.
Oppo India has shipped 5.5 million smartphones in India during the second quarter of 2022. Oppo India has 15 percent share in the Indian smartphone market, according to Canalys.
“Vendor activity remained muted in Q2 2022, due to falling demand and government scrutiny of Chinese manufacturers,” said Canalys Analyst Sanyam Chaurasia. “Ballooning inflation hit consumers’ disposable income and vendors are struggling to cover their operating costs. Chinese brands, such as Xiaomi, Vivo and Oppo, struggled with government scrutiny as well as financial problems.”