Oppo to invest $60 million in India to strengthen smartphone ecosystem

New Delhi: Chinese smartphone maker Oppo 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.