Saying that it is presently working on building the elements that would be the key to the future growth of 5G embedded smartphones, Chinese handset maker Vivo has said it would launch a 5G smartphone in India when the market is ready. Several smartphone makers have already announced their 5G phones including South Korean tech giant Samsung and Chinese smartphone makers Huawei, Xiaomi and Oppo. Samsung is gearing up to release the world's first 5G smartphone in the first week of April for the South Korean market.
"We'll launch a 5G phone whenever India is ready. The handset player is working closely with chipset making giant Qualcomm and companies like Haier, TCL and Midea on a global level for 5G services and products," Nipun Marya, Head of Marketing Strategy, Vivo India, told IANS.
In 2016, the handset player set up its 5G research institute centre in Beijing, China and laid the foundation for 5G technology development and standardisation. "Vivo is looking to integrate 5G smartphones going forward. We are presently working on building the elements that would be the key to the future growth of 5G embedded smartphones, which we have termed as 'Intelligent Phones'," Marya noted.
With over 60% growth in terms of value in January 2019, the handset maker emerged as the fastest growing brand in India, the top company executive said.
"Vivo has emerged as the fastest growing brand with 63.2% growth in terms of value and 60.9% growth in terms of volume in January 2019 versus January 2018. This is at a time when the industry grew at a mere 16.8% and 14.2% by value and volume respectively," Marya said.
Unlike other market research firms, GfK reports final consumption of the devices and not just shipments. The company said it was working towards strengthening its after sales services in the country.
Currently, there are more than 70,000 retailers in India where Vivo phones are available and the company has more than 200 exclusive stores and two experience centres.
Last year, the handset maker announced an additional investment of Rs 4,000 crore over a period of four years towards opening a new manufacturing plant on the Yamuna Expressway in Uttar Pradesh which aims to generate 5,000 jobs in its first phase of expansion.
The 169-acre land was acquired near the existing 50-acre manufacturing facility that would help expand Vivo's manufacturing capabilities and support its growth in the country.