One of India’s leading electronics manufacturers Dixon Technologies and Chinese smartphone giant Vivo have announced a joint venture to manufacture smartphones. Both companies will together manufacture phones for Vivo and potentially other brands as well. As per a recent statement filed by Dixon, the company will hold a majority 51% stake in the venture with Vivo India owning the remaining 49%.
As per media reports, while Dixon and Vivo will collaborate closely, neither company will hold any stake in the other. The financial terms of the agreement have not been disclosed.
As of now, the deal is subject to regulatory approvals and finalising detailed agreements.
This announcement comes amid the Indian government’s consistent push for Chinese companies to establish local joint ventures involving Indian partners while appointing Indian executives in leadership positions.
The joint venture aligns with India’s Make in India initiative helping Vivo in expanding its manufacturing operations for the local market.
Expressing optimism about the collaboration, Dixon’s Vice Chairman and Managing Director Atul B. Lall said, “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.”
Lall highlighted that the partnership would further solidify Dixon’s position in India’s Android smartphone ecosystem. Dixon already manufactures smartphones for leading brands like Samsung, Xiaomi, Oppo, Motorola, Transsion, Google and Nothing.
Meanwhile, the CEO of Vivo India Jerome Chen also noted, “The proposed joint venture will undertake part of Vivo’s OEM orders of smartphones in India and can also engage in OEM business of various electronic products of other brands. This partnership will effectively complement the current manufacturing operations of Vivo India.”
Vivo, which recently marked a decade of operations in India, has invested Rs 3,000 crore in a new 170-acre manufacturing facility in Greater Noida. This state-of-the-art plant can produce up to 120 million smartphones annually replacing its previous facility with a 40 million unit capacity. The old unit is now operated by Bhagwati Products (Micromax).
This collaboration marks Dixon’s second partnership with a Chinese smartphone brand in 2024. Earlier, it acquired a 50.10% stake in Ismartu India, the manufacturing unit of Transsion Holdings for Rs 238.36 crore.
Vivo was reportedly in discussions with other Indian companies including the Tata Group for a similar venture. However, all those talks reportedly fell apart over valuation disagreements earlier this year.
Answer. Dixon Technologies will hold a majority 51% stake in the venture while Vivo India will own the remaining 49%.
Answer. The joint venture aims to manufacture smartphones for Vivo and potentially other brands supporting the Indian government’s Make in India initiative.
Answer. Vivo’s new 170-acre manufacturing facility in Greater Noida can produce up to 120 million smartphones annually.
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