Dixon Technologies has recently informed exchanges that the company has signed a binding term sheet with Vivo India on December 15, 2024, to establish a joint venture focused on manufacturing electronic devices, including smartphones, in India. This strategic partnership positions Dixon with a 51% stake and Vivo India holding the remaining 49% in the newly formed OEM entity.
The joint venture aims to boost India’s electronic manufacturing ecosystem while maintaining independence, as neither company will hold stakes in the other.
Finalization of the venture is contingent on executing definitive agreements, fulfilling customary conditions, and obtaining necessary regulatory approvals, including compliance with India’s foreign exchange control laws.
Atul B. Lall, Vice Chairman and Managing Director of Dixon, expressed excitement about the collaboration, stating, “This partnership with Vivo India strengthens our position in the Android smartphone ecosystem, combining Dixon’s manufacturing excellence with Vivo’s leadership in the Indian market.”
Jerome Chen, CEO of Vivo India, highlighted the venture’s potential to complement Vivo’s current manufacturing operations, saying, “The joint venture will take on part of Vivo’s OEM smartphone orders and potentially expand into OEM manufacturing for other electronic brands.”
