VIVO Plans to Invest 400bln Rupees in India to Build Second Plant


VIVO India
Rate this post

Today, On November 30, according to the ‘Indian Economic Times’ report, Director of Brand Strategy of Vivo India, Nipun Marya said that the Chinese smartphone manufacturer VIVO intends to continue investing in the second phase of its ‘Made in India’ project worth of 400 Rs. billion (about $5.74 billion), including the construction of a new factory.

After this investment, VIVO’s smartphone manufacturing base in India will be close to the size of its two factories in China and will be among the best in India. In July, Samsung Electronics invested $4.915 billion to build the world’s largest mobile equipment factory in Noida. Other companies such as Xiaomi have expanded their manufacturing share in India through the third-party assembly.

Marya told reporters that VIVO India has now acquired nearly 169 acres of land near its existing plant to build the second plant. The company will invest 8 billion rupees ($0.11 billion) first. It is expected that the new plant will be completed and put into use after 12-18 months. The first phase of the plant will bring 5,000 new jobs.

VIVO’s existing plant is located in the Greater Noida area of Northern India, covering more than 50 acres and has been fully localized, such as printed circuit boards are also produced locally. The plant’s investment is 3 billion rupees ($0.043 billion).

In addition, with local manufacturing, VIVO also invested in a single-brand retail industry. Marya said the company has acquired online store ownership and is planning to open offline retail stores, but declined to disclose retail investment plans.

Read Also:  VIVO iQOO Pro 5G Version Got TENAA Certification

According to the Counterpoint Research report, in the third quarter of this year, Xiaomi dominated the Indian smartphone market with a market share of 27% (up from 22% in the same period last year), followed by Samsung (23%), VIVO (10%), Micromax (9%), and OPPO (8%). Thus, VIVO is the third brand in the world’s second largest smartphone market.

Previous HMD Global schedules launch event for December 10 in India, Nokia 8.1 in tow
Next Xiaomi Mijia Smart Door Lock Comes With Highest C-Class Standard