CORPORATE
Dixon Technologies and Vivo join hands for manufacturing electronic devices
- IBJ Bureau
- Dec 16, 2024
Electronics contract manufacturer Dixon Technologies and Chinese mobile phone company Vivo will set up a joint venture for manufacturing electronic devices, including smartphones, a regulatory filing from Dixon has said. The filing has not shared any financial details and timeline for commencement of the operation.
Dixon will hold a majority stake of 51 per cent in the joint venture and the rest will be owned by Vivo India. “Dixon Technologies and Vivo Mobile India sign a binding term sheet for a proposed joint venture to undertake OEM business of electronic devices, including smartphones,” the filing has said.
However, neither Dixon nor Vivo India will have any stake in each other. The facility will undertake a part of Vivo’s original equipment manufacturing (OEM) orders of smartphones in India and can also engage in OEM business of various electronic products of other brands.
“It gives us immense pleasure to partner with Vivo India which is an iconic global brand, and we see them as an ideal strategic partner that shares our core values of quality, engineering prowess and customer satisfaction. “We believe that this association will bolster our manufacturing excellence and superior execution abilities and Vivo’s leadership in the Indian business ecosystem. This partnership further strengthens our strong foothold in the android smartphone ecosystem in India,” Dixon Vice-Chairman and Managing Director Atul B Lall has said.
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