Vivo releases the India Impact Report 2022 revealing their future plans and unwavering commitments for the Indian market
Vivo India has released the second edition of its India Impact Report 2022 on their official website. In the report, the company revealed its future plans and also some of the commitments made to the Indian market. In the report, the CEO said in a statement, “We started exports of Vivo ‘Made in India’ smartphones in 2022 and we are very proud to contribute in a small way, towards the Honourable Prime Minister’s vision to establish India as a primary export hub. We consider it a landmark achievement that we will be exporting over 1 million ‘Made in India’ vivo smartphones to the world in 2023.”
Further in the report the company talked about its Rs.7500 crore investment plan in which Vivo’s first phase of investment of Rs.3500 crore is aimed to conclude by the end of 2023 tentatively. Also, the company revealed it’s focused on the Atmanirbhar Initiative in which 100% of motherboard assembly is done in India with 95% of battery components and 70% of chargers, and earphones sourced locally . With this, the company focuses on creating an Indian mobile ecosystem.
The company mentioned signing an MoU with Vedanta Group to locally source smartphone displays as soon as they become available in India.
The company further emphasized its next strategy – Design for India. Vivo established a core industrial design team and camera imaging team to understand the needs of Indian users and local trends. Vivo’s this strategy helped them in introducing a new camera mode – Wedding style portrait mode in its latest V27 series. According to the company, this strategy would not only help Indian customers but also users worldwide.
Vivo further mentioned its commitment to finding ways to maintain the affordability and accessibility of smartphones in India ensuring that people can access Digital India initiatives that were introduced by the Government.
According to the report, the retail partners of the company have also witnessed substantial growth with the company contributing 20-22% of their revenues.
Future Plans Of Vivo India
The main key focuses of Vivo India are :
- Export of 1 million smartphones by end of 2023 and a new Vivo manufacturing facility set to become operational in 2024
- ‘Design in India’ by focusing on local talent and leveraging Vivo’s expert design team
- Uplift the local chain by partnering with local suppliers and vendors
