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Economic Times
New Delhi: Government is likely to clear long pending Dixon-Vivo joint venture this month, which will reduce the risk exposure of the Chinese mobile company to India, sources aware of the development said.The deal was signed between the two companies in Decemb
er 2024 for a joint venture, in which Dixon Technologies will be the majority shareholder with a 51 per cent stake. An inter-ministerial panel has given in-principle approval to the deal. It will be cleared by Meity after due process, a source told PTI.The joint venture will focus on manufacturing electronic devices, including smartphones.Vivo's manufacturing unit in Noida is likely to become part of the proposed JV, which will reduce the company's risk exposure to India.The facility will undertake part of Vivo's original equipment manufacturing (OEM) orders for smartphones in India. It will also engage in the OEM business of various electronic products of other brands.Currently, Vivo enjoys a dominant position in the Indian smartphone market. 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 the 2025-26 fiscal with a total revenue of Rs 48,873 crore, out of which the mobile phone and contract manufacturing business contributed Rs 44,257 crore.