Shen Wei, the founder of vivo, said that the brand, which achieved rapid growth despite opening to overseas markets later than its competitors, completed its breakthrough period in 2022 and the golden age has just begun. Wei drew attention to the main goal of vivo to be a stable, long-term organization; He emphasized that they will avoid price wars and share the value they create with innovation with their business partners, thus making vivo a longer-lasting and healthy structure.
Vivo Founder, Chairman and CEO Shen Wei stated that 2022 is a very important breakthrough year for vivo, as they crossed important thresholds. Wei underlined that despite all its achievements and growth, there are many goals that vivo needs to reach, and said, “We will follow our long-term plans by staying true to the basic desire, we will create a successful sustainable business model for vivo by nurturing our innovative spirit, maintaining our efficiency and reducing our costs.”
Shen Wei vivo’s long-term goal is “When we look at vivo’s 28-year history, we see that the times we faced difficulties and crises were the most productive times when we turned these crises into opportunities. Every challenge we faced has been a stimulating factor in vivo’s awareness, reinforcing its skills, and allowing it to see further and go a long way. In the next ten years, challenging times await the smartphone industry. But we are also aware that the challenges we envision in vivo also create an endless field of opportunity. We will continue to move forward with firm steps towards becoming a big long-term company by taking users to our center, doing what we need to do in the right way and with the right methods in line with the BenFen philosophy, maintaining a mutual win-win understanding, and facing all difficulties with our target-oriented approach. We strongly believe that the golden age of vivo is not in the past, but in the future and in every step we take on this journey ahead.”
“In 2022, vivo surpassed important milestones in its journey to become a global brand”
Shen Wei, at the meeting he held with the vivo ecosystem, said that despite the many difficulties they faced in 2022, their highly equipped models achieved remarkable successes, thus exceeding important milestones in vivo’s ideal journey of creating a successful global brand. “In 2022, we launched organizations such as the user innovation lab, XR lab, chip lab and overseas markets collaboration center within the vivo Central Research Institute. After several years of strategic investment in core technology, vivo; It introduced qualitative changes in four long lines of design, imaging, system and performance. Refinement of the core technology gave vivo a huge boost. In addition to the vivo X80, X90 and X Fold series, the S16 series and iQOO digital series have also enabled us to reach large audiences. While the user recommendation scores (Net Promoter Score) reach new heights, our market results are getting better day by day.”
“We should avoid price wars”
Noting that vivo’s strategic opportunity lies in the brand’s breakthrough in high-end models, Shen Wei said, “We should focus on creating great products for users’ basic needs and hardships, both on the hardware and software side, break new ground in important technologies, lead trends, create surprises for users and We must serve the development of vivo as a sustainable brand.”
Stating that perfect products and high-quality service are the keys to making a difference in the competition, the CEO of vivo emphasized that they should not be tempted by the temptations of sales figures and should do their best to avoid price wars. Wei “vivo’s core mission; is to make its users, employees, partners and stakeholders happy. To reduce costs; We should never resort to short-term and unhealthy methods such as reducing quality, transferring risks to others and eroding the interests of stakeholders. With the leading technology brand approach, we must get rid of the low profit margin trap, which is a bottleneck in developing high technology and continuing to innovate. We need to create value with the leverage effect of innovation and share this value with our business partners and make vivo a longer-lasting and healthy structure.” Noting that vivo’s main goal is to be a stable, long-term and healthy organization, Wei also underlined that they will never target short-term interests in order to get a large share of the competition.
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