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<\/span><\/figcaption><\/figure>New Delhi: Vivo<\/a> Mobiles, the third-largest smartphone brand in India, has reported a net profit for the first time after four years, helped by a sharp cut in advertising & promotional expenses in FY21.

The Chinese smartphone maker’s India business reported a net profit of Rs 552 crore on an operating revenue of Rs 24,725 crore in FY21, according to its financial statement filed with the ministry of corporate affairs.

In earlier filings to the ministry, Vivo had reported losses of Rs 348 crore in FY20, Rs 19 crore in FY19, Rs 124.2 crore in FY18 and Rs 114 crore in FY17.

Smartphone market leader, Xiaomi<\/a>, posted a profit of Rs 275 crore in FY21, while Samsung<\/a>, ranked second, posted a net profit of Rs 4,040 crore. Oppo, ranked fifth, posted a loss of Rs 2,203 crore during the same period.

Vivo returned to the black after it slashed its advertising & promotional expenses in FY21 by a whopping 64.4% on-year to Rs 403 crore. Its operating revenue, though, fell 1.3% on-year.

The reduction in advertising expenses came as a result of Vivo dropping out of the title sponsorship of the Indian Premier League<\/a>, with fantasy sports app Dream11 taking up the mantle in 2020, according to market trackers. The company had been sponsoring the high-profile domestic cricket tournament since 2016.

\"Vivo<\/a><\/figure>

Vivo plans to increase exclusive stores to more than 650 in India this year<\/a><\/h2>

\"The mainline retail channel has always been an essential part of our go-to-market strategy and we would continue to invest in this channel. By the end of this year, we aim to take the total number of Vivo exclusive stores to more than 650 in the country,\" Vivo India Brand Strategy Head Yogendra Sriramula said in a statement.<\/p><\/div>

\"\"
<\/span><\/figcaption><\/figure>New Delhi: Vivo<\/a> Mobiles, the third-largest smartphone brand in India, has reported a net profit for the first time after four years, helped by a sharp cut in advertising & promotional expenses in FY21.

The Chinese smartphone maker’s India business reported a net profit of Rs 552 crore on an operating revenue of Rs 24,725 crore in FY21, according to its financial statement filed with the ministry of corporate affairs.

In earlier filings to the ministry, Vivo had reported losses of Rs 348 crore in FY20, Rs 19 crore in FY19, Rs 124.2 crore in FY18 and Rs 114 crore in FY17.

Smartphone market leader, Xiaomi<\/a>, posted a profit of Rs 275 crore in FY21, while Samsung<\/a>, ranked second, posted a net profit of Rs 4,040 crore. Oppo, ranked fifth, posted a loss of Rs 2,203 crore during the same period.

Vivo returned to the black after it slashed its advertising & promotional expenses in FY21 by a whopping 64.4% on-year to Rs 403 crore. Its operating revenue, though, fell 1.3% on-year.

The reduction in advertising expenses came as a result of Vivo dropping out of the title sponsorship of the Indian Premier League<\/a>, with fantasy sports app Dream11 taking up the mantle in 2020, according to market trackers. The company had been sponsoring the high-profile domestic cricket tournament since 2016.

\"Vivo<\/a><\/figure>

Vivo plans to increase exclusive stores to more than 650 in India this year<\/a><\/h2>

\"The mainline retail channel has always been an essential part of our go-to-market strategy and we would continue to invest in this channel. By the end of this year, we aim to take the total number of Vivo exclusive stores to more than 650 in the country,\" Vivo India Brand Strategy Head Yogendra Sriramula said in a statement.<\/p><\/div>