Electronics contract manufacturer Dixon Technologies and Chinese mobile phone company Vivo will form a joint venture to produce electronic devices, including smartphones, a regulatory filing said on Sunday. Japan.
Dixon will hold a majority stake of 51% in the joint venture and the remainder will be held by Vivo India.
“Dixon Technologies (India) Limited (Dixon) and Vivo Mobile India Private Limited (Vivo India) sign a binding term sheet for a proposed joint venture to undertake the OEM business of electronic devices including including smartphones,” the filing said.
However, neither Dixon nor Vivo India has any stake in each other.
The facility will undertake a portion of Vivo’s original equipment manufacturing (OEM) smartphone orders in India and can also engage in OEM business for various electronic products of other brands .
“We are delighted to partner with Vivo India, an iconic global brand, and we see them as an ideal strategic partner who can share our core values of quality , technical competence and customer satisfaction.
Dixon Vice Chairman and Managing Director Atul B Lall said: “We believe this association will strengthen our manufacturing excellence and superior execution capabilities as well as Vivo’s leadership in the Indian business ecosystem. This partnership further strengthens our foothold in the Android smartphone ecosystem in India.” .
The filing does not share financial details and start-up time.
“The proposed joint venture will undertake a portion of OEM orders for Vivo’s smartphones in India and may also engage in OEM business for various electronic products of other brands.
“This partnership will effectively complement Vivo India’s existing manufacturing operations,” Vivo India CEO Jerome Chen said.
