Dixon Technologies India Ltd to partner with Xiaomi India

Dixon Technologies (India) Limited ("Dixon") proposes to partner with Xiaomi India to carry out manufacturing and export of mobile phones of Xiaomi and to also explore enhancing component ecosystem in India through the wholly owned subsidiaries of Dixon. The proposed association will be formalized subject to execution of the definitive agreements.

Hon'ble Union Minister of State for Electronics & Information Technology, Skill Development & Entrepreneurship, Shri Rajeev Chandrasekhar, congratulated both the business houses on the proposed association.

Commenting on this association, Mr. Atul B. Lall, Vice Chairman & Managing Director, Dixon Technologies (India) Limited said, the Indian EMS industry has embarked on an upward journey. Now, with most of the global mobile phone manufacturers and their supply chain partners investing in manufacturing, the Indian EMS industry is well-positioned to unlock its true potential in the coming years. Xiaomi, which has built a strong brand equity over the years in India is known for its high quality and efficiency is reckoned as a strong force in smart mobile phones market in India and people across the nations have strong faith in their products. We are ecstatic and encouraged by the trust they have reposed on Dixon for the proposed association. This partnership will leverage Dixon's manufacturing excellence, superior execution track record and Xiaomi's expertise & leadership in Indian business ecosystem and it represents a major milestone in Indian Governments "Make in India" initiative.

Shares of Dixon Technologies (India) Limited was last trading in BSE at Rs. 3682.00 as compared to the previous close of Rs. 3716.45. The total number of shares traded during the day was 10541 in over 1631 trades.

The stock hit an intraday high of Rs. 3724.50 and intraday low of 3652.20. The net turnover during the day was Rs. 38929478.00.

Source : Equity Bulls

Keywords

DixonTechnologiesIndia INE935N01020 Partnership XiaomiIndia