According to Counterpoint research, shipments of smartphones priced less than Rs 12,000 accounted for up to 80% of all sales in India for the three-month period ending in June 2022. ED has recently brought charges against several Chinese companies, including Xiaomi, Vivo, and Oppo, for alleged tax cheating.
Vivo its shareholders had used forged identification documents and falsified addresses at the time of incorporation, said ED. The ED has mentioned that Vivo India incorporated 22 firms in different states which allegedly laundered money. The Delhi-based CA firm helped Vivo India in integrating 22 firms.