NEWS

vivo invests Rs 125 crore for manufacturing unit in India

Wednesday, Dec 23, 2015

Betting big on the booming smartphone demand in the country, Chinese handset maker vivo has set up a manufacturing and assembling facility in India with an investment of Rs 125 crore.

Located at Greater Noida, the unit has a maximum production capacity of one million devices a month.

"The unit will cater to the manufacturing and assembling of vivo smartphones, creating more jobs and decreasing vivo's dependence on imports," the company said in a statement.

The firm, which has been present in India for a year, has invested about Rs 125 crore as its first phase of investment in the 30,000 sq metre facility, it added.

The first phase of the project, which comprises several assembly lines, quality control lab and warehouses, will help create around 2,200 jobs.

"The commencement of our first manufacturing unit in India marks a significant moment for us, reflecting our ambitious business strategies for the country. We understand the vast potential and fast growth of the smartphone market in India," vivo Mobile India CEO Alex Feng said.

The unit will assemble and manufacture several new models like Y11, Y21 and Y15S, to meet domestic demand.

Given the government's push for 'Make in India', device makers, including Micromax, Lava, Gionee, OnePlus and Xiaomi, have started assembling their devices in the country.

India is one of the fastest growing smartphone markets globally and device makers are keen to set up manufacturing units here to cater to the burgeoning demand.

 

business-standard.com

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