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<\/span><\/figcaption><\/figure>New Delhi: Chinese smartphone maker Oppo<\/a> said on Friday it would invest $60 million (about Rs475 crore) in India over the next five years under its ‘Vihaan’ project to strengthen the manufacturing ecosystem by empowering micro, small and medium companies here.

In a statement on Friday, Oppo said the move would help the company in expanding its export capacity to $5 billion annually over the next five years.

Over that time, Oppo said it would also focus on the development of next-generation technologies such as 5G and artificial intelligence to accelerate the product development process from India, empowering and mentoring technology startups and exploring collaborations with educational institutions to drive innovation.

Its investment plans in India come even as the fourth largest smartphone brand in the country faces charges of customs duty evasion of Rs 4,389 crore. The company has denied any wrongdoing.

“With a robust local supply chain getting established, the time is right for promoting exports of our quality ‘Make in India’ smartphones to identified markets. This would facilitate
Oppo India<\/a> in expanding the export capacity to $5 billion over the next five years,” said Vivek Vasishtha<\/a>, Oppo India’s vice-president for public affairs.

\"India<\/a><\/figure>

India smartphone market contracts 5% QoQ in Q2; 5G smartphone installed base crosses 50 million: Counterpoint<\/a><\/h2>

Xiaomi maintained its lead in the India smartphone market in the second quarter, despite declining 26% year-on-year to account for a 19% share (by volume) while Samsung held the second spot with a 14% year-on-year growth to capture an 18% share.<\/p><\/div>

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<\/span><\/figcaption><\/figure>New Delhi: Chinese smartphone maker Oppo<\/a> said on Friday it would invest $60 million (about Rs475 crore) in India over the next five years under its ‘Vihaan’ project to strengthen the manufacturing ecosystem by empowering micro, small and medium companies here.

In a statement on Friday, Oppo said the move would help the company in expanding its export capacity to $5 billion annually over the next five years.

Over that time, Oppo said it would also focus on the development of next-generation technologies such as 5G and artificial intelligence to accelerate the product development process from India, empowering and mentoring technology startups and exploring collaborations with educational institutions to drive innovation.

Its investment plans in India come even as the fourth largest smartphone brand in the country faces charges of customs duty evasion of Rs 4,389 crore. The company has denied any wrongdoing.

“With a robust local supply chain getting established, the time is right for promoting exports of our quality ‘Make in India’ smartphones to identified markets. This would facilitate
Oppo India<\/a> in expanding the export capacity to $5 billion over the next five years,” said Vivek Vasishtha<\/a>, Oppo India’s vice-president for public affairs.

\"India<\/a><\/figure>

India smartphone market contracts 5% QoQ in Q2; 5G smartphone installed base crosses 50 million: Counterpoint<\/a><\/h2>

Xiaomi maintained its lead in the India smartphone market in the second quarter, despite declining 26% year-on-year to account for a 19% share (by volume) while Samsung held the second spot with a 14% year-on-year growth to capture an 18% share.<\/p><\/div>