MUMBAI: Chinese smartphone maker Vivo said Tuesday it was “cooperating with authorities” in India after reports investigators raided dozens of its offices on suspicion of money laundering.
The searches make Vivo the latest Chinese tech company to face scrutiny by Indian investigative agencies, after similar raids against Xiaomi and Huawei earlier this year.
A Vivo spokesperson confirmed that the Enforcement Directorate — India’s financial crime-fighting agency — had raided multiple locations and seized company property.
“Vivo is cooperating with the authorities to provide them with all required information,” the spokesperson told AFP. “We are committed to be fully compliant with laws.”
Vivo specialises in budget handsets and had carved out 15 percent of India’s competitive smartphone market by last year, data from tech research firm Counterpoint showed.
Multi-year sponsorships of popular sporting events such as the Indian Premier League T20 cricket tournament have helped Vivo’s brand become a household name in India since its market debut in 2012. Vivo’s parent company BBK Electronics also owns rival brand Oppo, which sells OnePlus and Realme smartphones and tablets.