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Informist, Friday, Jul. 10, 2026

MUMBAI – Dixon Technologies (India) Ltd. Thurday said vivo Mobile India Pvt. Ltd. has received approval from the government for a joint venture in India. With this, Dixon and vivo Mobile India also signed an agreement to form a joint venture company to manufacture electronic devices, including smartphones.

"...VMI (vivo Mobile India) has today received approval of Government of India vide letter dated July 8, 2026 in terms of Press Note 3 of 2020 issued by the Department of Promotion of Industry and Internal Trade, Ministry of Commerce and Industry for incorporation of the JV Co and subscription of shares of JV Co by VMI," the filing said.

Dixon Technologies will hold a 51% stake in the joint venture while the remaining 49% will be held by vivo Mobile India. The joint venture, once incorporated, will manufacture some of vivo Mobile's smartphone orders in India. The incorporation is expected to happen after a year. The joint venture will also make several electronic products for other brands, according to an exchange filing from Dixon Technologies. "This partnership will further strengthen the Company's (Dixon Tech's) foothold in the Android smartphone ecosystem in India in line with Dixon's strategic goals," as per the filing.

Dixon Technologies and vivo Mobile will provide the initial paid-up share capital of INR 50 million in proportion to their shareholding in the joint venture. The joint venture will purchase some manufacturing assets once it is incorporated.

As part of the agreement, Dixon Technologies and vivo Mobile can nominate two directors each on the joint venture's board. "In addition, the Shareholders' Agreement includes customary and/or commercially agreed provisions with respect to reserved matters, pre-emptive rights, transfer restrictions, representation, warranties, dispute resolution etc.," according to the filing.

During the financial year 2025-26 (Apr-Mar), Dixon Technologies had reported a consolidated net profit of INR 2.56 billion on revenues of INR 105.11 billion. Thursday, its shares closed at INR 13,477 on National Stock Exchange, up over 4% from Wednesday. End

Reported by Anshul Choudhary

Edited by Akul Nishant Akhoury

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