Vivo lines up Rs 3,500 crore investment in India

Chinese smart phone maker Vivo is planning to invest around Rs 3,500 crore (US$ 480 million) in India into capacity expansion and other projects in future, taking up the total investment commitment the company made in India to Rs 7,500 crore (US$ 1.04 billion). The company will start operations in an expanded facility next month to add manufacturing capacity of 8.4 million units, with an investment of Rs 400 crore, from the committed investment.

"We have been bullish about India from the beginning. So far, we have invested around Rs 400 crore in our manufacturing facility. We have an annual capacity of 25 million units," said Mr Nipun Marya, director, Brand Strategy, Vivo India. He did not put a timeframe for the investment.

At present, it is running at full capacity in the existing facility and the company has picked up a 169-acre land in Greater Noida a few months back. It has started works from the Rs 7,500 crore (US$ 1.04 billion) investment commitment by investing around Rs 400 crore into a new facility to add 8.4 million more smart phones, which will be operational next month.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.