Vivo To Invest Rs. 7500 Crore To Expand Its Production Capacities In India: Report

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After announcing Rs. 4,000 crore investments for setting up a manufacturing plant in India, Chinese smartphone maker Vivo is now planning to invest Rs. 7,500 crore to expand its production capabilities in the country.

Vivo Plans To Invest Rs. 7500 Crore

 

Shedding light on the investment plan, the company's director of brand strategy Nipun Marya informed that the company is increasing its investment from Rs 4,000 crore to Rs 7,500 crore, which will be done over a few years, reports ET.

According to the report, this investment will create over 40,000 jobs in the market for over 10 years. On the other hand, the company is also planning to set its Research and Development center in India, Marya informed Gizbot at the launch of Vivo Z1Pro in July this year.

Meanwhile, Vivo has announced that it will launch its latest smartphone Z1X under the Z-series on Flipkart. According to some media reports, the smartphone is expected to launch in September and it might be costlier than the Z1Pro. It is also expected that the device will be an upgraded version of the Z1Pro.

Where Vivo Stands In India

According to a data report from International Data Corporation, Vivo saw a YoY growth of 31.6 percent in 2Q19, while Oppo registered 41.0 percent growth, thanks to its affordable A series. Realme saw multi-fold growth, due to its model C2 and 3/3Pro series.

Another Chinese smartphone maker Xiaomi also registered a 4.8 percent YoY growth in Q2 2019. IDC also pointed out that, India smartphone market recorded the highest shipments in Q2 at 36.9 million with 9.9 percent year-on-year (YoY) and 14.8 percent quarter-on-quarter (QoQ) growth. It is worth mentioning that, 69.3 million mobile phones were shipped in the country in Q2 2019, which was up 7.6 percent from Q2 2018.

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