To boost India’s smartphone manufacturing and expand capabilities in the sector, Dixon Technologies and vivo India ink a joint venture deal, which is currently in final stages of approval.
On Sunday, Dixon Technologies and vivo India announced that they have signed a binding term sheet for a proposed joint venture. Dixon, one of the leading electronics manufacturers in India, will hold a 51% majority stake, while vivo India, a subsidiary of global smartphone brand vivo, will own the remaining 49%.
This partnership follows earlier reports of Vivo’s talks with Indian manufacturers like Dixon, as well as discussions with other Chinese brands like Oppo.
Despite the joint venture, neither Dixon nor Vivo India will hold stakes in each other, maintaining their independence. The deal is subject to final agreements, conditions, and regulatory approvals, including those under India’s foreign exchange control laws.
Furthermore, the joint venture will handle a portion of Vivo’s smartphone OEM orders in India and may also take on OEM projects for other brands in various electronic product categories.
Atul B. Lall, Vice Chairman and Managing Director of Dixon, considered vivo India to be an ideal partner, highlighting their shared values of quality, engineering, and customer satisfaction. He stated that the partnership would strengthen both companies’ manufacturing capabilities and enhance vivo’s position in India’s business landscape.
Lal noted that the partnership with Vivo will help Dixon reinforce its strong presence in India’s Android smartphone market, too.
On the other hand, Jerome Chen, CEO of Vivo India, stated that Dixon’s deep local management experience and manufacturing expertise will complement the current status of India’s manufacturing operations.
