Dixon Technologies (India) Limited signed definitive agreements with Vivo Mobile India Pvt. Ltd. to establish a manufacturing joint venture. The Indian government approved the partnership on July 8, 2026. This collaboration focuses on producing electronic devices, primarily smartphones.
Dixon Technologies holds a 51% controlling stake in the new entity. Vivo Mobile India maintains the remaining 49% share. The joint venture will manage 100% of Vivo’s local smartphone production.
This partnership strengthens Dixon’s leadership in the electronics manufacturing services (EMS) sector. The move aligns with the Make in India initiative to bolster domestic production. Analysts expect the deal to significantly expand Dixon's presence in the Android ecosystem.
JPMorgan maintained an Overweight rating on Dixon and raised its price target following the news. The brokerage expects the venture to contribute 11 million smartphones to Dixon’s volumes in FY27. Projections indicate volumes will grow to 22 million units over the subsequent two fiscal years.