The shares of Dixon Technologies (India) Limited were trading at ₹18,670.45 up by ₹716.05 or 3.99 per cent today on the NSE at 10.45 am. The shares hit its 52-week high today at ₹18,830.
Dixon Technologies (India) Limited and vivo Mobile India Private Limited signed a binding term sheet on December 15, 2024, to establish a joint venture in electronic device manufacturing, with a primary focus on smartphones.
Under the agreement, Dixon will hold a 51 per cent stake, while vivo India will own 49 per cent of the proposed joint venture entity. The partnership aims to undertake vivo’s original equipment manufacturer (OEM) smartphone orders in India and potentially expand into manufacturing electronic products for other brands.
The joint venture is subject to execute definitive agreements, completing customary conditions precedent, and obtaining necessary regulatory approvals, including foreign exchange control clearances.
Atul B. Lall, Dixon’s Vice Chairman and Managing Director, emphasised the strategic potential of the partnership, highlighting shared values of quality and engineering excellence. Jerome Chen, CEO of vivo India, noted the collaboration would complement existing manufacturing operations.
Dixon Technologies, recognised as India’s largest home-grown design-focused manufacturing company, has a diversified portfolio including consumer electronics, home appliances, lighting products, mobile phones, wearables, and telecom hardware.
