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In a statement to the Bombay stock Exchange, the home-bred contract manufacturer said the proposed tie up with India’s erstwhile smartphone market leader will be formalised after executing the definitive agreements. No financial details were disclosed.
“This partnership<\/a> will leverage Dixon<\/a>’s manufacturing excellence, superior execution track record and Xiaomi’s expertise & leadership in Indian business ecosystem…,” said Atul B. Lall<\/a>, vice chairman and managing director, Dixon Technologies in a statement.
Xiaomi India declined to comment.
Dixon shares surged 5.3% to close at Rs 3,878.45 on the BSE, after the announcement.
The statement came after the two parties met with minister of state for electronics and information technology, Rajeev Chandrasekhar, at his office.
“They apprised me about their partnership for manufacturing & exporting mobile phones from India and plans to invest in component ecosystem,” Chandrasekhar said in a tweet.
Under the PLI scheme, Dixon has so far received around Rs 110 crore as incentives for meeting the incremental production targets. The company currently makes phones for Reliance Jio, Motorola, and Nokia. Out of them, Motorola phones are exported from India.
During Dixon’s earnings call for Q4 2023 results on May 23, Lall had said the contract manufacturer is “very, very close” to finalising two large pacts with the “largest global brand in India.”
He added that one out of them is for joint manufacturing and will start operations in the next five to six months in the current fiscal for which a new facility of 320,000 square feet is in the process of being set up in Noida<\/a>.
People familiar with the matter had then said the global brand being referred to was Xiaomi. They added that Dixon is working to create a capacity of 1.2 million devices<\/a> a month for both the domestic market and for exports.
The development comes after a broad push by the Indian government to get smartphone players from Asian neighbours to involve more local players in their manufacturing ecosystem, ET had reported in its January 9 edition.
Xiaomi India also recently partnered with Optiemus Electronics to manufacture Bluetooth audio products at its Noida facility.
The company is also planning to deepen its manufacturing ecosystem in India with a 50% increase in local value addition.
Xiaomi India president Muralikrishnan B told ET earlier that it plans to localise sourcing of the display and fingerprint sensor this year, and achieve domestic value addition of 20%, including the semiconductor components, by the end of the year.
Till recently India’s largest smartphone maker, Xiaomi India has slipped to number four with its market share falling to 16% by volume in Q1 2023 from 23% a year ago, as per Counterpoint Research, suffering a 44% decline in shipments due to weak demand for budget smartphones.
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孟买证交所的一份声明中,能说会道的合同制造商表示,提出了与印度的昔日的智能手机市场的领导者将正式执行后的协议。没有披露财务细节。
“这伙伴关系将利用迪克森制造卓越,卓越的执行记录和小米的经验和领导力在印度商业生态系统…,”说Atul b·拉尔、副董事长和董事总经理迪克森技术在一份声明中说。
小米印度拒绝置评。
迪克森股价飙升5.3%,收于3878 .45 Rs疯牛病,后公告。
声明之后双方会见了国务大臣的电子和信息技术,Rajeev钱德拉塞卡在他的办公室。
“他们通知我关于制造和出口手机来自印度和伙伴关系计划投资在组件的生态系统,“钱德拉塞卡在推特说。
PLI方案下,迪克森迄今为止收到大约110卢比作为会议增量生产目标激励。公司目前让Jio的依赖手机,摩托罗拉和诺基亚。,摩托罗拉手机从印度出口。
在迪克森的2023年第四季度财报电话会议结果5月23日,拉尔曾表示合同制造商是“非常接近于”敲定两大协议与“印度最大的全球品牌。”
他补充说,其中一个是联合生产和将在未来五到六个月开始操作在当前财政的320000平方英尺的新设施的过程中被建立诺伊达。
知情人士说了全球品牌被称为是小米。他们补充说,迪克森正在努力创建一个容量为120万设备一个月为国内市场和出口。
开发之前,广泛推动印度政府从亚洲邻国获得智能手机玩家涉及更多的球员在当地的制造业的生态系统,而在1月9日版报道。
小米印度最近还与Optiemus电子在诺伊达工具制造蓝牙音频产品。
该公司还计划在印度和深化其制造业生态系统本地值增加了50%。
小米印度总统Muralikrishnan B,计划早些时候告诉ET本土化采购的显示和指纹传感器,今年,实现国内价值的20%,包括半导体组件,由今年年底。
直到最近印度最大的智能手机制造商,小米印度已降至4号其市场份额降至16%(体积比)2023年一季度从一年前的23%,根据对比研究,痛苦出货量下降44%预算智能手机由于需求疲软。
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