Chinese handset maker Vivo said it is aiming to continue its high growth streak in the Indian handset maker with the launch of six new devices for both online and offline chann
Vivo will be launching a brand-new series for the online segment, called U series to cater Rs 10,000-Rs 20,000 price segment, having recently launched its online-exclusive Z series.
A majority of its portfolio, however, remains skewed towards the offline segment and as part of its pre-festive plan, it will launch V17 pro smartphone.
“We know the upcoming festive season is going to be exciting. We started widening product portfolio…. going into the festive season, we will easily have six new products,” Nipun Marya, Director – Brand Strategy, Vivo India, told ET.
On the latest U series, Marya said that around 80% of the online market is between Rs 8000-Rs 20,000, thereby the launch of a new series. “We will be adequately positioned in the online space.”
Not just online, Vivo is also broadening its portfolio for the offline segment, having recently introduced an offline exclusive, S series to tap Rs15,000-Rs 20,000 segment. It continues to lead the Rs 20,000-Rs 30,000 segment with its V series of smartphones.
Marya, citing Gfk figures, said that Vivo’s value market share grew 52% in the April-June quarter, while volume share grew by 40% year-on-year. “…industry, on the other hand, has grown 8-10%. Overall business growth is healthy across the price range.”
Vivo had a value market share of 20.5% of the overall market, which it claimed its highest ever in India. “As per Gfk, we have got a value share of 21.2% value share, which is our highest while volume is 18.5% for June. Growth is looking good. With continuous push and products, it will grow…our growth rate is 4-5x higher than industry’s growth,” he added.
As per Counterpoint data, Vivo’s volume market share declined by 1 percentage point to 11% in the second quarter of 2019. The agency said that Vivo’s shipments remained almost flat year-on-year however, its performance remained strong in less than Rs 10,000 price band.