Chinese smartphone maker Vivo India’s blazing growth rate in the fiscal year ended in 2018 has led to its revenue jump by 78% to cross the Rs 10,000-crore mark in less than four years of its entry into the Indian smartphone market.
Vivo, which is also regarded as the country’s third largest smartphone brand by shipment share, posted India sales of Rs 11,179.3 crore in the fiscal ending March 2018, compared with Rs 6292.96 crore in 2016-17.
As per regulatory filings made by the company, Vivo Mobile India Pvt Ltd’s net loss marginally increased to Rs 120.45 crore in 2017-18 from Rs 113.96 crore in the fiscal before.
Vivo India did a trade channel correction last year by reducing the number of exclusive stores and number of outlets selling its handsets, speeding down on four-way expansion, reduced trade margin and decided to shift its focus on the online sales.
Vivo recently signed film star Aamir Khan as the brand ambassador and also announced an additional investment of Rs 200 crore to expand its Greater Noida plant.