Dixon-Vivo JV nears government approval; Dixon to hold 51% in Noida smartphone unit
India is set to clear the Dixon-Vivo joint venture this month, folding Vivo's Noida facility into a Dixon-controlled entity (51% stake). The JV will manufacture 3.5 crore handsets in 2025, with Dixon producing 3.2 crore units. Dixon's FY26 revenue is projected at Rs 48,873 crore, with mobiles contributing Rs 44,257 crore.
What happened
Government is set to approve the Dixon-Vivo joint venture this month, with Dixon holding 51% stake. Vivo's Noida facility will fold into the JV, manufacturing
Key facts
- 51% stake
- 3.5 crore handsets in 2025
- 3.2 crore units Dixon production
- Rs 48,873 crore FY26 revenue
- Rs 44,257 crore mobile contribution
Why this matters
The Dixon-Vivo structure sets a template for Chinese OEMs navigating India's localization mandates via majority-Indian JVs, signaling more forced-partnership M&A across the electronics manufacturing landscape.