Chinese smartphone company Vivo is preparing to launch its sub-brand iQOO in the Indian market. According to the report, the iQOO brand will debut in the Indian market next month with its first 5G flagship smartphone. Currently, the brand retains its place in China only, but now the company is considering extending it to other markets of the world as well. The brand will operate as an independent entity in India.
Gagan Arora, Director-Marketing, iQOO India said that our plans for the Indian market are very bold. Our first device will be launched next month using Qualcomm Snapdragon 865 processor, 5G support and new battery technology. It will be a low-cost device in the best-in-class premium segment. He further explained that the company plans to sell 1 million units in the next year. The company’s first office is being opened in Bengaluru with a team of 80 people. It will be manufactured at Vivo’s Noida and UP plants.
Xiaomi ranks first with 27% market share
- Vivo is also seen as an emerging smartphone company in the Indian market. In the fourth quarter of 2019, the company ranked second in terms of market share in India’s smartphones.
- According to Counterpoint report – Vivo came in second place with 21% market share while Samsung was third with 19% market share. Xiaomi came in first with 27% market share.
- At the same time, Oppo and Reality also managed to make it to the top 5 with 12% and 8% market share.
- Vivo managed to gain 76% (year-on-year) in 2019 and 134% in the fourth quarter. From this, it can be guessed that the company is doing a great job in the budget smartphone segment.