Chinese smartphone company Vivo has returned as the sponsor of the Indian Premium League – IPL cricket tournament, almost a year after the suspension of the sponsorship deal with BCCI between the India-China border.
The company, which competes with the companies like that of Xiaomi and Samsung in the Indian market, has also said that it will expand its portfolio of premium devices, and is focused on new technologies such as 5G.
Nipun Marya who is the Vivo India Director said that Vivo is back as the sponsor of the IPL title and that is very encouraging and exciting because the IPL is the largest venue in India and a perfect combination of sports and entertainment, so we look forward to April 9, when the IPL kicks off,” he said.
He also said the temporary holding was a collective decision, and the company and the BCCI were looking at a larger area before deciding to suspend the funding for the rest of the year.
“All nature has now changed for the better and the whole environment is better. I think it is appropriate for Vivo to return as sponsor of the IPL title… Our old contract is as it is and we continue with all the terms and conditions we had earlier in the contract, ”said Mariah.
This year’s IPL program will run from April 9 to May 30 in six locations – Mumbai, Bengaluru, Chennai, Delhi and Kolkata. Narendra Modi Stadium in Ahmedabad will host the final on May 30 and the play-offs.
The Vivo funding agreement with BCCI, amounting to $ 440 million a year, was terminated last season due to the state of India-China border. Vivo had secured funding rights for the IPL title for five years from 2018 to 2022 with a reported amount of Rs 2,190 crore. It will now be a sponsor of the title until 2023.
Dream11 was the sponsor of the IPL title for the 2020 program, winning Rs 222 crore rights. Games were being played in the UAE as a result of the epidemic.
Mariah cited details of research firm GfK and said the company had the highest market share in offline sales in three quarters of the last quarter. According to a GfK report, Vivo accounted for 27 percent of the market share and held an annual growth rate of 10 percent last year even though the industry declined by 17 percent in the year facing the epidemic.
He also added that the company has more than 70,000 locations and that the product performs well in all geographies. Vivo will also add about 100 specialty stores, taking the total number of those stores to 650 by the end of the year.
Mariah said that according to GfK’s quarterly data for December 2020, the market had grown by 5 percent.
He said that so he thinks that the growth is coming back and that is why we have high hopes for the coming years and the year when we will introduce many new products. In fact, in the premium segment, we are looking to introduce five to six new products.
He said that in addition to that the focusing on introducing devices with excellent thinking capabilities, also the company will also focus on 5G and its portfolio of devices valued at more than Rs 20,000 will be powered by 5G.
He said that when you see a lot of action on our part and the way we have invested in 5G over the past several years, Vivo has held on tight until the launch of 5G products. They will be at the forefront of innovation, bringing the latest product to market with 5G.
Vivo saw India’s revenue grow by more than 45 per cent to Rs 25,060 crore on the FY20 over the previous currency even though its losses have grown significantly than previous revenue due to very high costs.
He also said that there are very much in sales, with an annual production capacity of 33 million units, making us one of the strongest players in the Indian offline market. Despite the epidemic, Vivo introduced customers to high quality products and integrated our distribution and network infrastructure.