Dixon and vivo India plans manufacturing joint venture
Indian EMS provider Dixon Technologies is teaming up with an Indian subsidiary of Chinese smartphone maker vivo to form a joint venture that will manufacture electronic devices – including smartphones.
Dixon states in a press release that it will hold a 51% stake in the joint venture and vivo India will control the remaining 49%. Neither Dixon nor vivo India will hold any stake in each other.
The transaction is, however, subject to a definitive agreement and receipt of regulatory approvals. The companies did not disclose the financial details of the agreement.
“We believe that this association will bolster our manufacturing excellence and superior execution abilities and vivo’s leadership in the Indian business ecosystem. We are excited to work together to create a stronger, more diversified, and future-proof organization. This partnership further strengthens our strong foothold in the android smartphone ecosystem in India,” says Atul B. Lall, Vice Chairman and Managing Director of Dixon, in the press release.
The facility will handle a portion of Vivo's OEM smartphone orders in India, and can also engage in OEM business of various electronic products of other brands.
