Shares of Dixon Technologies rise on reports that India’s government is likely to clear a long-pending Dixon–Vivo joint venture later this month. Multiple outlets citing sources say an inter-ministerial panel has already granted in-principle approval, with the final approval expected to come from the Ministry of Electronics and Information Technology (MeitY) after completion of due process. The joint venture was signed in December 2024. Under the proposed structure, Dixon Technologies holds a majority stake of 51% in the JV, while Vivo holds the remaining 49% (as described by the reporting). The JV is expected to focus on manufacturing electronic devices, including smartphones. Vivo’s manufacturing unit in Noida is expected to be integrated into the JV structure, allowing the unit to handle part of Vivo’s original equipment manufacturing (OEM) orders for smartphones in India and potentially produce electronics for other brands as well.
Reported projections from Dixon management indicate the deal could translate into additional annual production of about 20–22 million units and a potential revenue opportunity of around Rs 30,000 crore. Separately, the reporting notes Vivo’s strong position in India’s smartphone market, with estimated 2025 sales of about 3.5 crore handsets, compared with Dixon’s production volume of about 3.2 crore units. Government confirmation of the approval is still pending in the reports.
