Vivo To Invest Rs 3,000 Crore In New Manufacturing Facility In Greater Noida
Date
6/18/2024 4:10:54 AM
(MENAFN- KNN India)
New Delhi, Jun 18
(KNN) Vivo, a major Chinese smartphone manufacturer, is poised to inaugurate one of India's largest mobile phone production facilities next month. This state-of-the-art facility, located in Greater Noida, is spread across 170 acres and boasts an impressive annual capacity of 120 million devices.
The company has invested over Rs 3,000 crore in setting up this expansive manufacturing unit, which is comparable in scale to Samsung's own 120 million unit-per-year plant inaugurated in 2018.
Vivo's new manufacturing facility will replace its previous leased unit, which had an annual capacity of 40 million devices and has now been taken over by Micromax Informatics' manufacturing subsidiary, Bhagwati Enterprises.
According to knowledgeable sources, Vivo is actively seeking an Indian joint venture (JV) partner to oversee its manufacturing operations in the country.
The push for Chinese smartphone brands to forge joint ventures with Indian companies is part of the government's efforts to boost the local mobile phone ecosystem and support domestic companies.
Currently, Chinese handset brands command over 70 per cent of the Indian mobile phone market.
However, the government has clarified that failure to form such partnerships will not jeopardise the substantial investments made by these companies in the Indian market.
Industry executives have reported that several Chinese firms are actively exploring options to either outsource their manufacturing to Indian companies or establish joint ventures with local partners.
Government officials have expressed their support for such collaborations, as they would contribute to the development of a robust mobile phone manufacturing ecosystem in India.
(KNN Bureau)
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