China-based smartphone manufacturer Vivo announced plans to start exports of made in India smartphones from this year.
Vivo, a smartphone brand from China, has already announced Rs 7,500-crore proposed manufacturing investment plan for the country. The company is likely to complete the investment of Rs 3,500 crore by 2023 to scale up its manufacturing capacity.
Vivo said it aims to increase annual production capacity to 60 million smartphone units from the current 50 million and begin exports from 2022. Vivo will increase local sourcing of components like 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,” said Paigham Danish, Director Business Strategy, vivo India.
The company aims to scale the manufacturing capacity to 120 million units annually in the country in the future.
Vivo’s India Impact Report 2021 said the smartphone company provides direct and indirect employment opportunities to around 1.4 lakh Indians.
Vivo created a socio-economic impact on the lives of 1.6 million Indians. The company made a definitive impact on its retail partners by providing 20 percent growth in average selling price (ASP), resulting in a 2.5 times growth in the retailer’s average sales value per month.
The report highlighted how the company has built a robust distribution of more than 1,000 distributors, 98 percent of which are Indians.
Vivo said it also generates more than 6,000 job opportunities through its master distributors.
Vivo aims to increase charger localisation to 75 percent by 2024 from the current 60 percent, and plans to source 65 percent displays locally by 2023.
Nearly 40,000 Indians will be able to avail jobs through the proposed Rs 7,500 crore investment. There are currently 70,000 retailers and more than 30,000 vivo Brand ambassadors in the country, said the report.