Chinese mobile company Vivo plans to hive off its Noida-based manufacturing unit to its upcoming joint venture with domestic electronics manufacturing services firm Dixon Technologies and move to an asset-light business model in India, sources aware of the development told PTI.
The government on Wednesday approved Vivo Mobile India’s application to form a joint venture with Dixon Technologies.
The approval came after about 18 months of signing a pact between the two companies.
“Vivo’s Noida manufacturing unit will become part of the JV and gradually the mobile company will move to an asset-light business model,” a source aware of the development said.
Email query sent to Vivo and Dixon in this regard did not elicit any immediate reply.
Also Read
Dixon Technologies will hold a 51 per cent stake in the proposed JV and Vivo Mobile India Private Limited (VMI) will hold 49 per cent stake.
The JV company will carry on the business as an original equipment manufacturer (OEM) of electronic devices, including smartphones, in India.
The disclosure made by Dixon Technologies on the JV has already mentioned that the proposed entity will “undertake part of VMI’s OEM orders of smartphones in India” and can also engage in the OEM business of various electronic products of other brands.
“At closing of the Proposed Transaction, the JV Co will (i) purchase certain manufacturing assets by way of an asset purchase agreement, and (ii) enter into a manufacturing and packaging agreement with VMI to undertake part of OEM orders of VMI products,” the filing said.
The Chinese smartphone company is estimated to have sold 3.5 crore handsets in 2025, while Dixon’s mobile phone production volume was around 3.2 crore units.
Dixon Technologies closed 2025-26 with a total revenue of Rs 48,873 crore, out of which the mobile phone and contract manufacturing business contributed Rs 44,257 crore.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
