China's Vivo plans new Rs4,000-cr facility in India
13 December 2018
Chinese handset maker Vivo today announced plans to invest Rs4,000 crore to set up a new manufacturing facility in India. Vivo said it has acquired 169 acres of land in Uttar Pradesh and the investment will be made over a period of four years.
Vivo, which competes with the likes of Samsung and Xiaomi in the Indian market, already has a 50-acre manufacturing facility and the planned facility nearby will help expand its manufacturing capabilities and support Vivo's growth in India, it added.
“Vivo entered India in 2014 with a commitment to bring product innovation, focus and value to our consumers. India is a key market for us, and today we have reiterated our commitment by entering the next phase of growth in India," Vivo India director-Brand Strategy, Nipun Marya, said.
The new plant will offer a major benefit to the surrounding area through high-quality job creation and training opportunities, he added.
All Vivo smartphones sold in the country are manufactured at the Greater Noida facility, which is one of Vivo's four manufacturing facilities globally.
The existing manufacturing set-up, which saw an investment of Rs300 crore, already functions at a capacity of 2 million units per month with more than 5,000 workforce.
Vivo expects to generate 5,000 additional jobs in the first phase of expansion, the statement said.
India, the world’s fastest growing major mobile phone market, and Prime Minister Narendra Modi is keen to make the country a hub for smartphone manufacturing.
Vivo’s move comes after Samsung, which set up one of the world’s largest cell phone in Noida, recently announced closure of its China facility, shifting its production to India.