As we live in a world that is constantly connected, smartphones have never been more essential than they are today. Now day’s telecommunication industry is facing increasing expectations for smartphones. Chinese technology firm Vivo is aiming to be the next major competitor on the market. Based on the performance it has shown to today, it could possibly surpass its rival Oppo in a short period of now.
VIVO Company Profile
Vivo Communication Technology Limited is a Chinese tech company that is owned by BBK Electronics. This designs and creates smartphones, accessories for smartphones software, as well as online services. BBK Electronics also includes Oppo, RealMe, and OnePlus. The company designs applications for smartphones that are sold through its Vivo App Store, its exclusive, Android-based, FunTouch operating system.
Vivo typically produces phones that are mid-range and low-end however, over time it has come up with new technologies that provide its phones with the look and feel premium, even though they are offered at reasonable prices. Vivo currently has thousands of operators and 3,000 engineers and technicians, spread in four R&D centers located that are located in Dongguan, Shenzhen, Nanjing in addition to Chongqing located in China.
Vivo via its subsidiary company BBK Electronics was created in the year 2000 by Chinese entrepreneurs Duan Yongping and Shen Wei. Both remain in Vivo to the present and Yongping acting as chairman of BBK Electronics and Shen Wei is Vivo’s CEO and president.
While BBK Electronics was established in 1998, it took until 2011 to allow Vivo to get its foothold into the Chinese market. The company was founded in 1998. The operations of its headquarters in Dongguan in 1998, it would later expand to three other sites in the country.
In the year 2011, Vivo had already begun selling phones in various Asian countries like India, Malaysia, Indonesia, Thailand, Myanmar, Vietnam as well as the Philippines.
Vivo is also at the forefront of smartphone technology by introducing the world’s first smartphone with a Hi-Fi chip in 2012 the X1. This year, Vivo has also launched the world’s slimmest phone called the X5Max. It also included an all-new Hi-Fi 2.0 framework.
Vivo could become one of the largest firms in India in 2014, with 10,000 employees and distributing its products to more than 10,000 retail stores. Looking for the potential to expand the reach of the brand internationally Vivo built a second manufacturing facility located in Noida, Indian town of Noida which was to become the initial manufacturing plant outside China.
VIVO Net Worth
In the BBK umbrella, Vivo has seen a massive increase in revenues in the past few years in both the US and overseas. According to figures from the International Data Corporation (IDC), 7.4% of global smartphone sales were from Vivo as well as Oppo in the year 2019. In 2020’s first quarter, Vivo registered a 7.7 percent year-over-year growth globally and also an average that was 24.8 million.
Vivo is also doing well also in the Indian and Indonesian markets of Indonesia and India. In the year 2019, Vivo sales in India rose by 54%, and BBK Electronics becoming the second-biggest smartphone manufacturer in the country. The first quarter of 2020 witnessed the company achieve its largest-ever volume of shipping in Indonesia which is due to the high market demand for both V19 and S1 Pro.
In October 2015 Vivo was named Vivo’s Indian Premier League title sponsor in a two-year agreement that was signed with the season of 2016. The agreement was renewed in July 2017 and was continued until 2022.
In June of 2017, Vivo entered into a sponsorship agreement with FIFA to become FIFA’s sole smartphone company for the 2022 and 2018 FIFA World Cups. Vivo was named the title partner of Pro Kabaddi in India.
Golden State Warriors player Stephen Curry has been a big supporter of his brand’s image in China as well as the Philippines along with an endorsement from the NBA on China.
VIVO Competition in the Market
Vivo has a tough battle with local producers Xiaomi and Huawei along with the global technological majors Apple as well as Samsung. Even though Vivo and Oppo dominate part of the market shares in the local market, they haven’t been able to catch Huawei or Samsung globally in sales.
Samsung is the smartphone market leader for more than eight years, and in spite of intense competitors from rival brands, Samsung has remained at the top of its game. Samsung has been the dominant brand in smartphones for a long time. South Korean company has not only been dominant in the low-end and mid-range segment but also the premium segment too.
Like every phone manufacturer, there releases a flagship model each year. This year is no exception since Vivo introduced its first 5g flagship phone, the X50 series. However, whether it can beat its competitors such as the Apple iPhone 12 or the Samsung S21 remains to be seen.
Vivo is a top-quality company that is committed to being healthful, innovative, and long-lasting. Vivo has seen a tremendous increase over the past couple of years. With more consumers searching for value-for-money but advanced phones, Vivo is primed to be a major player in the near future.