The move will support Vivo’s transition to an asset-light business model while expanding local smartphone manufacturing.
Key Highlights
- Vivo plans to transfer its Noida manufacturing unit to its joint venture with Dixon Technologies.
- The Government of India has approved the proposed joint venture after nearly 18 months.
- Dixon Technologies will hold a 51% stake, while Vivo Mobile India will own 49%.
- The joint venture will manufacture smartphones and other electronic devices as an OEM in India.
- Vivo aims to adopt an asset-light business model while continuing local smartphone production.
New Delhi: Chinese smartphone maker Vivo is set to transfer its Noida-based manufacturing facility to its upcoming joint venture with Dixon Technologies, marking a significant step towards an asset-light business strategy in India.
The development follows the government’s approval of the proposed joint venture between the two companies. The approval comes nearly 18 months after Vivo and Dixon signed the agreement to establish the partnership.
Under the approved structure, Dixon Technologies will hold a 51% stake in the joint venture, while Vivo Mobile India Private Limited (VMI) will own the remaining 49%. The new entity will operate as an original equipment manufacturer (OEM), producing smartphones and other electronic devices in India.
According to sources, Vivo’s manufacturing facility in Noida will become part of the joint venture. The company is expected to gradually shift towards an asset-light operating model while continuing to source manufacturing through the new partnership.
Regulatory filings indicate that the joint venture will acquire selected manufacturing assets from Vivo and enter into a manufacturing and packaging agreement to produce a portion of Vivo’s smartphones in India. The venture will also have the flexibility to manufacture electronic products for other brands.
Vivo is estimated to have sold around 35 million smartphones in 2025, while Dixon produced approximately 32 million mobile phones during the same period. Dixon Technologies reported revenue of ₹48,873 crore in FY2025-26, with its mobile phone and contract manufacturing business contributing ₹44,257 crore.
