Vivo's parent firm, BBK Electronics, owns 40% of India's smartphone market

Vivo India's share jumped from 10% in 2017 to 15% in 2021; sister concern Realme's quadrupled in last 4 years

In the three years till 2020-21, Chinese smartphone manufacturer Vivo’s India arm recorded a total revenue of Rs 66.985.7 crore. Although income from operations had dipped in 2020-21 by a percentage, in 2019-20 the company had recorded an increase of over 45 per cent – from Rs 17,201.7 crore to Rs 25,060 crore.

An Enforcement Directorate investigation has now found that Vivo transferred nearly half of its turnover of Rs 1.2 trillion to China to avoid paying taxes in India. The investigating agency also seized funds worth Rs 465 crore kept in 119 bank accounts related to the mobile