Shen Wei, founder of vivo He said that although the sea opened to many markets later than its competitors, the brand, which achieved a rapid growth, completed its breakthrough period in 2022 and the golden age had just begun. Wei drew attention to the main purpose of vivo to be a stable, long-term organization; He emphasized that they would avoid price wars and share the price they create with innovation with their business partners, thereby making vivo a longer-lasting and healthy structure.
Founder, Board Leader and CEO of vivo Shen Wei stated that the year 2022, when they crossed the precious thresholds, is a very valuable breakthrough year for vivo. Wei underlined that despite all its achievements and growth, vivo has many goals to reach. “Staying true to the core wish, we will follow our long-term plans, nurturing our innovative spirit, maintaining our efficiency and reducing our costs, creating a successful sustainable business model for vivo”said.
Shen Wei vivo’s long-term goal is “When we look at the 28-year history of vivo, we see that the periods when we faced difficulties and crises were the most productive periods when we turned these crises into opportunities. Every challenge we faced was an incentive to raise awareness of vivo, reinforcing its skills, and allowing it to see farther and go a long way. Severe periods await the smartphone industry in the next ten years. However, we are also aware that the difficulties we envisage in vivo create an unlimited opportunity space at the same time. We will continue to move forward with firm steps towards becoming a long-term big company by taking users to our center, doing what we need to do in line with the BenFen ideology with correct systems and truthfully, maintaining a mutual win-win understanding, and facing all difficulties with our purpose-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 in this journey ahead.”
“In 2022, vivo surpassed precious milestones in its journey to become a global brand”
Shen Wei, in his meeting with the vivo ecosystem, said that despite the many difficulties they faced in 2022, their highly equipped models achieved significant successes, and thus they surpassed valuable 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 a collaboration center for multi-markets offshore 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. The beautification of the underlying 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”
Pointing out that vivo’s strategic opportunity lies in the brand’s breakthrough in high-end models, Shen Wei said, “We should focus on the basic needs and problems of users, creating excellent works on both the hardware and software side, breaking new ground in valuable technologies, leading trends, creating surprises for users and We must serve the development of vivo as a sustainable brand.”
Stating that flawless 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 numbers and should do their best to avoid price wars. Wei “vivo’s core mission; is to make its users, employees, partners and stakeholders enjoyable. To reduce costs; We should never resort to short-term and unhealthy methods to reduce quality, transfer risks to others and erode stakeholder interests. 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 cost with our business partners and give vivo a longer-lasting and healthy structure.” Noting that the main aim of vivo 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 big share from the competition.