Dixon Technologies (India) Limited and vivo Mobile India Private Limited have signed a binding term sheet for a new joint venture focused on smartphone manufacturing in India. The partnership structure gives Dixon a 51% stake and vivo India a 49% share in the venture.
This development coincides with the appearance of three new Jovi phones in the GSMA database, potentially indicating a new brand from BBK Electronics, which owns vivo along with other brands like OPPO, Realme, and OnePlus.
The joint venture’s scope includes manufacturing vivo smartphones and electronic products for other brands. According to Mr. Atul B. Lall, Vice Chairman and Managing Director of Dixon, “It gives us immense pleasure to partner with vivo India which is an iconic global brand and we see them as an ideal strategic partner that shares our core values of quality, engineering prowess and customer satisfaction.”
Mr. Jerome Chen, CEO of vivo India, stated, “We are delighted to sign a term sheet with Dixon which boasts rich localized management experience and outstanding professional manufacturing prowess. The proposed joint venture will undertake part of vivo’s OEM orders of smartphones in India, and can also engage in OEM business of various electronic products of other brands.”
The timing of these developments suggests possible connections between the manufacturing venture and the new Jovi phones. BBK Electronics has previously launched sub-brands like Realme and iQOO to target specific market segments, and Jovi could follow a similar pattern.
The joint venture remains subject to regulatory approvals, including those required under India’s foreign exchange control laws. Neither Dixon nor vivo India will hold any stake in each other’s existing operations.
