Vivo India on Thursday said the company will export over one million ‘Made in India’ smartphones in 2023.
In its second edition of India Impact Report, the company mentioned that it exported its first ‘Made in India’ smartphone shipment to Thailand and Saudi Arabia in 2022.
As part of its proposed Rs 7,500 crore investment plan, Vivo is on track to complete the first phase of investment of Rs 3,500 crore by the end of 2023, which will enable it to start production at its new ‘state-of-the-art’ manufacturing facility at the earliest. will allow. 2024, according to the company.
“Our contribution to local value supply chain, manufacturing expansion, bridging the digital divide reinforces our commitment to the India market and makes us a formidable force in the Indian smartphone ecosystem,” said Yogendra Sriramula, Head of Brand Strategy. Vivo India said in a statement.
“Further, aligned with the Government of India’s vision to make the country a global export hub, we have reiterated our unwavering commitment to India by exporting the first consignment to Thailand and Saudi Arabia. We are proud that we are on track to export one million smartphones by 2023.”
In addition, Vivo India has already invested Rs 2,400 crore, and is expected to invest a further Rs 1,100 crore by the end of 2023 to increase its manufacturing capacity and support the government’s vision of making India a global export hub. hopefully.
As part of the ‘Atmanirbhar Bharat’ initiative, the company said that 100 per cent assembly of Vivo’s motherboards is happening in India, with the smartphone maker procuring 95 per cent of its battery and 70 per cent charger components locally.
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