India Approves Dixon-Vivo 51:49 JV After 19 Months as Dixon Shares Rise 4.2%
Updated
Updated · Global Times · Jul 10
India Approves Dixon-Vivo 51:49 JV After 19 Months as Dixon Shares Rise 4.2%
3 articles · Updated · Global Times · Jul 10
Summary
July 8 approval from India's industry department cleared Dixon Technologies and Vivo Mobile India to launch a 51:49 manufacturing venture after a 19-month review that began with their December 2024 agreement.
The JV will handle part of Vivo's OEM smartphone orders in India, produce Vivo phones locally and take on electronics manufacturing for other brands, expanding Dixon's capacity in the Android segment.
13,477 rupees was Dixon's closing share price after a 4.2% jump, while JPMorgan raised its target to 16,700 rupees from 14,300 and said the company was back on track for high growth.
The decision follows India's June 24 move to let four Chinese power-equipment makers join government tenders, reinforcing signs that New Delhi is easing scrutiny where Chinese technology and supply chains support local manufacturing goals.
Chinese analysts cast the approval as a pragmatic adjustment rather than a full policy reversal, arguing India's jobs, inflation and industrial-chain pressures are pushing it to balance security concerns with economic needs.