Vivo never released an official Android 7.0 Nougat update for the Vivo V5. The device launched with Android 6.0 (Marshmallow) and Funtouch OS 2.6, and Vivo ceased software support for this model at that version.
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Vivo did not release an official over-the-air (OTA) update to Android 7.0 for the standard V5 model. Most support pages for the V5 series point to maintenance versions of Android 6.0. Vivo never released an official Android 7