Nipun Maraya, director (brand strategy) of Vivo India said that the company has announced to invest Rs 7,500 crore in the country. Through this, the company aims to increase the mobile manufacturing capacity from the current 3.3 crore units to 12 crore units.
He said, very soon we are going to establish our Industrial Design Center in the country as well. Then we will not only be making 'Make in India' products, but will also be designing in the country. This design center will focus on understanding the need of Indian customers. The first Vivo phone manufactured and designed in India will come on the market during 2020-21.
Support for PM Modi's Vocal for Local Campaign
Maraya announced Vivo's entry into the premium smartphone category by introducing 550 technology-ready X50 Series smartphones in the virtual program. He said that he fully supports Prime Minister Narendra Modi's 'vocal for local' campaign. The company has announced an investment of Rs 7,500 crore for the expansion of its Greater Noida plant. With this investment, our local procurement will increase from 15 percent to 40 percent in a year.
Vivo's 21% share in the Indian smartphone market
Vivo has a market share of around 21 per cent in the Indian smartphone market and is the second largest smartphone company. Maraya said that the company will increase its workforce to 50,000 with the expansion of its plant. With this investment, this plant will not only be one of Vivo's largest plants, but it will also be the largest smartphone manufacturing plant in the country.
The company has introduced two models under the X50 Series. Their price is Rs 34,990 and Rs 37,990. While the price of X50 Pro is Rs 49,990.