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Chinese smartphone maker Oppo on Friday announced an initiative called Vihaan to empower its local SME and SME suppliers and strengthen operations, investing $60 million over the next five years under the program.
Recently, Oppo was under the ED’s radar for alleged PMLA violations. The smartphone maker aims to partner with more local suppliers to strengthen its local supply chain. Currently, Oppo is the fifth largest smartphone vendor in India in Q2 2022 with 11% market share, says Counterpoint Research.
“In the next 5 years, OPPO India will focus on launching the development of next-generation technologies such as AI, 5G, etc., to accelerate the product development process from India, empower and instruct technology start-ups from start to finish, and explore collaboration with educational institutions for in order to foster a culture of innovation,” said Oppo.
So far, Oppo says it is investing ₹2,400 crore to build its mega factory in UP’s Greater Noida. The manufacturing unit produces phones for Oppo, OnePlus and Realme. Oppo also has an R&D department in Hyderabad.
“With the establishment of a strong local supply chain, the time is right to promote the export of our quality ‘Make in India’ smartphones to identified markets. This would facilitate OPPO India to expand its export capacity to USD 5 billion over the next five years,” said Vivek Vasishtha, Vice President, Public Affairs, Oppo India.