vivo Hands Control of India Manufacturing to Dixon in JV Deal

vivo’s India unit has received approval from India’s Department for Promotion of Industry and Internal Trade for a restructuring that will place its 12-year manufacturing operation into a joint venture controlled 51% by local partner Dixon Technologies, according to Jiemian News. Dixon disclosed the approval to the stock exchange on July 9, after the authorization letter was issued on July 8. The new company has paid-in capital of only 50 million rupees, but it will take over a factory with planned annual capacity of more than 100 million phones and more than 10,000 workers. The deal also covers part of vivo’s manufacturing assets, a manufacturing and packaging agreement with vivo India, and orders for about two-thirds of vivo’s India smartphone sales, or more than 20 million units based on 2025 volumes. vivo’s India business was the company’s largest overseas market in 2025, with 32.1 million shipments and a 21% share, while its global overseas revenue already exceeds 50% and is targeted to reach 60% this year and 70% in 2027. Jiemian News reported that the Indian manufacturing exit follows years of regulatory pressure, including India’s Press Note 3 policy and tax and customs scrutiny of Chinese handset makers.