China's Vivo says plans to set up mobile manufacturing plant in India

Chinese smartphone maker Vivo Wednesday said it plans to set up a manufacturing plant in India over the next few years."India is a good market with huge potential. Setting up a manufacturing plant here is on top of our agenda. We will consider setting up a plant in India in the next few years," Vivo India General Manager Tracy Chen said in a statement.Many Indian and international handset vendors like Micromax, Lava, Xiaomi and Asushave evinced interest in setting up manufacturing in India.The government is also offering various incentives like capital subsidy and tax benefits on setting up local manufacturing in the country. Vivo on Wednesday opened its first company-owned exclusive brand store Hyderabad.The Shenzhen-headquartered company, which claims to have a "stronghold" in Thailand, Vietnam, Myanmar, Malaysia and Indonesian markets, entered India in December last year."Vivo has shipped 40 million smartphones from China last year. We hope to sell a similar number of phones in India in the first year of launch," Tracy said.He said Vivo is an over 20-year brand in China, tailored to suit the fashion and tech requirements of the younger generation."Vivo sees a lot greater potential in India and will give the Indian consumers superior and high-end devices with quality service," Tracy said.PTI