As per the lately public press release by Vivo, it determining to extend its investment in India which was earlier 4,000 crore. Now with the additional amount of 3,500 that the company will spend on its upcoming manufacturing facility in India; the sum of the total investment will rise up to 7,500.
This extension of the investment shows how important the Indian market is for Vivo. Since it is a big source of revenue for the company. Furthermore, as per the Vivo, they are very energetically pushing their expansion plan for the country; Vivo has stipulated 10 years for itself to soar the economic growth of the smartphone market.
Furthermore, as per the public press release, Vivo’s initiative of manufacturing setup expansion will help them to create around 40,000 employment possibilities across the country.
Vivo’s investment plan in India will carry out in four stages athwart two projects; one will be commenced in next month that is September with 8 million production capacity; with the help of this, the total production capacity of the company will reach above 33 million, cumulatively. This first stage of the Vivo facility will also create additional employment of over 2,500 making the total employment in vivo manufacturing facilities over 10,000 employees.
Following the Make in India commitment, all Vivo devices are manufactured at their existing Greater Noida plant.
It’s been 5 years since the Vivo operating in India and as per the recent GfK Q2 report, Vivo India recently registered an overall market share of 20.5% (by value).