NEW DELHI: Dixon Technologies and Vivo India on Sunday announced the formation of a joint venture in India for carrying on the business as an original equipment manufacturer (OEM) of electronic devices including smartphones.
Dixon and Vivo India would hold 51% and 49% stake, respectively, in the joint venture entity to be incorporated for this purpose. Neither Dixon nor Vivo India will have
any stake in each other. The parties will agree on an optimum structure and the relevant terms and conditions to be set out in the definitive agreements. Dixon in an exchange filing said that the transaction will be subject to execution of such definitive agreements.