vivo India to export over 1 million smartphones in 2023: vivo India Impact Report 2022
- Began exports of ‘Made in India’ smartphones in 2022
- Phase I investment plan on track, to complete investment of ₹3,500 crore by 2023
- Design in India is a key pillar of next phase of strategy
vivo India today launched the second edition of its India Impact Report, which underlines its unwavering commitment to the Indian market. After sending its first ‘made in India’ smartphone shipment to Thailand and Saudi Arabia in 2022, vivo in its India Impact Report 2022 states that it is on track to export more than one million ‘Made in India’ smartphones in 2023.
As part of its ₹7500-crore proposed investment plan, vivo is on track to complete phase I investment of ₹3,500 crore by the end of 2023, which will allow it to commence production in its new ‘state of the art’ manufacturing facility by early 2024, subject to necessary clearance from the authorities. The new facility spreads across approximately 169 acres and will have annual capacity to produce approximately 120 million smartphones in the future, upon completion of all its phases.
vivo India has already invested ₹2,400 crore, and a further ₹1,100 crore is expected to be invested by the end of 2023 to increase its manufacturing capacity and support the government’s vision of making India a global export hub.
Expressing excitement while unveiling the vivo India Impact report 2022, Mr. Yogendra Sriramula, Head, Brand Strategy, vivo India, said, “The year 2023 marks the milestone of our 9-year journey in India. Since our inception, India has continued to be a strategic market for us. Backed by technologically advanced and innovative offerings, we have won the hearts of proud owners of 100 million vivo smartphones, and have created a socio-economic impact on the lives of around 1.6 million Indians. The India Impact Report is a detailed description of our endeavors and our long-term vision to remain a vital contributor to India’s growth story.”
The report also highlights vivo’s dedication to building a robust and self-sufficient smartphone ecosystem in India. In alignment with the government initiative ‘Atmanirbhar Bharat’, 100 percent of vivo’s motherboard assembly is happening in India. Furthermore, vivo procures 95 percent of its battery and 70 percent of its charger components locally. To develop a robust local supply chain, vivo has also signed an MoU with Vedanta Group to source smartphone displays locally as soon as they become available in India. Furthermore, every vivo smartphone that is sold in India is made in India.
Yogendra further added, “Our serious efforts on developing the local value supply chain, manufacturing expansion, our contribution in bridging the digital divide reinforce our commitment to the India market and makes us a formidable force in the Indian smartphone ecosystem. Further, aligned with the Government of India’s vision to make the nation a global export hub, we have reiterated our unwavering commitment to India by exporting the first shipment to Thailand and Saudi Arabia. We are proud that we are on the track to exporting 1 million smartphones in 2023. We strongly believe that boosting manufacturing capabilities is vital to bring the nation on the global map, and expanding/growing our plant in India is our step forward in that direction. The second edition of vivo India impact report is a testament to our steadfast commitment to India and its people and we are excited to grow as the nation grows.”
The report underlines vivo’s focus on ‘Design in India’ as an important pillar of its next phase of strategy in India. vivo has already established a core team focused on industrial design and camera aimed at understanding the local design and camera needs of the users so that the product can be optimised accordingly. As an example, in V27 series, vivo launched a dedicated portrait mode for Indian weddings, which was specially designed for Indians.
vivo has had significant impact on its retail partners across the country. As per a study conducted by Techarc, vivo’s contribution to its retailers’ revenues is in the range of 20-22 percent. Many retailers who have been associated with the brand for 5 years have witnessed two times growth in their business.