Chinese smartphone maker Vivo Mobile India (VMI) on Wednesday received the long-pending approval from the Centre, under Press Note 3, to form a joint venture (JV) company with homegrown contract manufacturer Dixon Technologies to make smartphones. <\/p>\n
\u201cWe would also like to intimate that 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 (Joint Venture Company) and subscription of shares of JV Co by VMI,\u201d Dixon said in a regulatory filing Thursday. <\/p>\n
The JV was pending government approval under Press Note 3, which mandates companies from countries sharing a land border with India to require the government\u2019s approval to invest in India.
\nThe companies had signed a binding term sheet in December 2024, under which Dixon will hold 51% of the share capital, while Vivo will have 49%. <\/p>\n
The JV company will undertake original equipment manufacturer (OEM)-led activities for electronics devices, including smartphones for Vivo mobiles in India. It can also engage in making smartphones for other brands, as per the filing. <\/p>\n
The entity will be infused with \u20b95 crore in initial paid-up share capital, with Dixon contributing 51% of the amount, while Vivo will pitch in with the remaining amount. <\/p>\n
Dixon has been bullish on the JV agreement, which it believes can unlock further smartphone manufacturing volumes. The Noida-headquartered company has become one of the largest smartphone makers domestically. <\/p>\n
In a recent call with investors, Dixon Managing Director Atul Lall said the partnership is projected to add 20-22 million smartphone units annually over time to Dixon\u2019s business. That accounts for around two-thirds of Vivo\u2019s total annual production footprint in India, which sits at roughly 35 million handsets. <\/p>\n
Lall said once the partnership is fully operationalised, the scale is expected to generate an incremental revenue of \u20b930,000 crore per annum. <\/p>\n
Dixon expects operations under the JV to kick off in the December quarter of the current fiscal year, contributing 11 million units in FY27 order volume, with a full ramp-up expected in FY28.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chinese smartphone maker Vivo Mobile India (VMI) on Wednesday received the long-pending approval from the Centre, under Press Note 3, to form a joint venture (JV) company with homegrown contract manufacturer Dixon Technologies to make smartphones. \u201cWe would also like to intimate that 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 (Joint Venture Company) and subscription of shares of JV […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1020026","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1020026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=1020026"}],"version-history":[{"count":1,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1020026\/revisions"}],"predecessor-version":[{"id":1020044,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1020026\/revisions\/1020044"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=1020026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=1020026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=1020026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}