OPPO records 22% growth in Q1 2022 under “Made in India” initiative
Author : Saipriya Iyer | Published Date : 2022-06-21
Global smartphone company OPPO has reportedly dominated the first quarter of 2022 with a 22% y-o-y growth rate under its “Made in India” initiative.
For those unaware, approximately 190 million smartphones "Made in India" were shipped in 2021, owing to the support from numerous Indian government programs to encourage local manufacturing. Smartphone shipments gained 7% (y-o-y) during the first quarter of this year, reaching over 48 million units given the surging smartphone demand in India as well as soaring export activities.
The local smartphone manufacturing ecosystem remained resilient despite global component shortages, with OPPO demonstrating some excellent performance and emerging at the top by capturing the largest market share in terms of smartphone shipments.
Reportedly, OPPO has automated numerous processes that helped in improving its output as well as focused on expanding its Indian manufacturing capacities. Likewise, this has reinforced the company’s supply chain management while parallelly attracting many additional component players.
Oppo India’s Chief Marketing Officer Damyant Khanoria stated that the promise to 'Make in India' has been consistent and will go on to be a vital pillar of growth for the company in India. The latest milestone is proof that the company is contributing to the nation’s growth, and it will continue to develop technologies and products that are at the forefront through various R&D and production ecosystems.
If market speculations are right, India's handset production is slated to increase by 4% year over year in 2022. Meanwhile, along with its manufacturing facility in India, OPPO has also managed to make a substantial contribution to the "Aatmanirbhar Bharat" campaign.
The corporation intends to keep enhancing its manufacturing and R&D performance to preserve its position in the market and overall performance, cited sources with relevant information.
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About Author
Saipriya Iyer . .
Saipriya Iyer presently works as a content developer for fractovia.org. Having dabbled with the domain of content creation for nearly half a decade, she now boasts of an enviable portfolio, holding substantial experience in penning down pieces related to technology, finance, and a wide spectrum of other industry verticals. A qualified computer engineering graduate from the University of Pune, Saipriya can often be found leveraging her knowledge of software technology and electronics in her write-ups. She can be contacted at- saipriya.i@fractovia.org | https://twitter.com/saipriya_i
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