Tuesday, July 23, 2024
HomeNewsOppo to invest $60mn in India to boost smartphone ecosystem 

Oppo to invest $60mn in India to boost smartphone ecosystem 

Oppo, a Chinese smartphone maker, announced that it would invest $60 million (over Rs470 crore) in India over the next five years as part of its “Vihaan” project. This project aims to strengthen the manufacturing ecosystem by empowering small and medium-sized enterprises (SMEs) and micro, small, and medium-sized enterprises (MSMEs). 

The action, claimed in a statement released, will assist the business in raising its export capacity to $5 billion over the following five years. 

Oppo stated that during that time, it would also concentrate on the creation of next-generation technologies like 5G, artificial intelligence (AI), etc. to speed up the product development process from India, on empowering and mentoring technology start-ups from beginning to end, and on investigating partnerships with educational institutions to drive innovation.

Its investment plans to expand in India come as the country’s fourth-largest smartphone brand is accused of evading customs duties totaling Rs4389 crore. The company has denied doing anything wrong.

“With a robust local supply chain getting established, the time is right for promoting exports of our quality ‘Make in India’ smartphones to identified markets. This would facilitate Oppo India in expanding the export capacity to $5 billion over the next five years,” said Vivek Vasishtha, vice-president of public affairs, OPPO India.

The smartphone maker declared its aim to collaborate with additional regional vendors to boost the regional supply chain and create a robust smartphone ecosystem in India.

“Oppo India has collaborated with the government and the industry in encouraging around 30 Tier-1 suppliers to set up operations in India,” the statement said.

According to the statement, these suppliers have employed “tens of thousands of Indian” people, helping the electronics industry grow and raising India’s standing in international value chains. 

Since its inception, Oppo India has built up a robust network of more than 1000 distributors.

Oppo India established a “super factory” in Greater Noida for a cost of Rs 2400 crore. Through technology labs, its R&D centre in Hyderabad, established in 2018, is leading research and patent filing in 5G, cameras, power, and performance. India has the company’s most extensive manufacturing and R&D facilities outside of China.

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