Vivo has launched a joint venture to boost smartphone manufacturing in India, marking a new phase in the country’s growing mobile production sector. The announcement came this week as the company aims to capitalize on India’s push for local manufacturing and reduce reliance on imports, following Apple’s earlier investments in the region, according to techcrunch.com.
The joint venture involves Vivo partnering with local manufacturers to set up new production facilities in India. This move aligns with the Indian government’s Production Linked Incentive (PLI) scheme, which encourages companies to manufacture domestically. Vivo’s CEO highlighted that the partnership will help meet rising demand while supporting the government’s vision of making India a global manufacturing hub, techcrunch.com reported.
India’s smartphone manufacturing has seen significant growth recently, with Apple’s investments setting a precedent. Vivo’s entry through this joint venture underscores the sector’s expansion beyond established players. The PLI scheme has attracted several global brands, aiming to reduce supply chain disruptions and tap into the large domestic market. Vivo’s move is expected to intensify competition and contribute to India’s ambition of becoming a major smartphone production center.
The joint venture is expected to begin operations later this year, with initial production targets set to meet a substantial portion of Vivo’s India sales. The company confirmed that the new facilities will create thousands of jobs and enhance local component sourcing, reinforcing India’s position in the global smartphone manufacturing landscape, according to techcrunch.com.