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In less than 4 years Vivo India’s revenue crosses Rs 10K crores

In less than 4 years Vivo India’s revenue crosses Rs 10K crores

In less than 4 years of entering the Indian market, Chinese smartphone maker Vivo India has achieved revenue crossing Rs 10,000 crores milestone. It is a phenomenal rise of 78 per cent in its overall revenue. Vivo’s rise to the fame in India marks a growing dominance of the Chinese smartphone makers in India, which collectively account for over 60 per cent of the smartphone market.

As evident from the reports, although Vivo’s net losses have decreased in the past two years, its overall revenue has actually doubled. The company posted a net loss of Rs 113.96 crore in 2016-17 and Rs 120.45 crore in 2017-18 but its revenues rose to Rs 11,179.3 crore in FY 18 from Rs 6292.96 crore the year before.

Experts suggest the company’s real strategy is long-term investment, which may take years to shows its full impact but they will surely make its position stronger in India, the world’s biggest mobile phone market. Now like Oppo’s Realme and Xiaomi’s Pocophone, Vivo is also planning to launch a new brand to drive in more online sales. The company also plans to hire more local executives to better understand the domestic mobile phone market.

According to the latest research from Counterpoint’s Market Monitor service, Vivo and Oppo were the fastest growing brands followed by Huawei. Counterpoint research found out that Vivo recorded its third highest shipments at 12 per cent in India during Q2 2018, while other top two brands, Samsung and Xiaomi, accounted for 28 per cent shipments each.

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