More Vivo news coming in folks. As it becomes India’s second largest smartphone maker, Vivo is all geared up for the expansion of its new premium smartphone sub-brand iQOO in India and other global markets starting next month. iQOO will operate as a separate identity from Vivo in India. Now BBK group, Vivo’s parent company, has five brands – Oneplus, Vivo, Oppo, Realme and iQOO in Indian subcontinent.
Vivo has had limited success in India’s flagship smartphone segment and is trying to recapture the premium segment. Initially, Vivo is going to bring its phone to online market only and then later introduce it into traditional offline stores. It plans to sell one million devices over the next year.
Vivo has revealed some details about chipset and connectivity capabilities of the smartphone. The latest smartphone coming next month will be powered by Snapdragon 865 processor, new battery technology and 5G capabilities. Other obvious specifications will be Android 10 out of the box.
Gagan Arora, iQOO’s India Marketing Director said “We see extreme potential in the premium segment smartphone market in India and have deep-dived to understand the gap that the consumers face in this segment. We understand very closely that there is an increasing demand for performance delivery devices and smooth smartphone experience”. He further added that “The device will be best-in-class premium segment and will be competitively priced”. IQOO has set its office in Bangalore and has a 80 member team.
Vivo recently surpassed Samsung to become the second biggest smartphone vendor in India in Q4 2019 according to Counterpoint report. Xiaomi still maintains its top spot in the nation for the tenth consecutive quarter with command over 27% of the market.
Tarun pathak, Counterpoint Research Associate Director said “Existing Chinese players are now looking at different strategies to target India premium market which is all set to grow even faster in India from 2020 onwards with an annual growth rate of 20 percent,”