Dixon Technologies has received approval from the Indian government to form a joint venture (JV) with Chinese peer Longcheer, according to a regulatory filing. The JV will be formed between Dixon and Longcheer's Singapore-based subsidiary.
Electronics manufacturing services firm Dixon Technologies is setting up a Rs 1,000-crore facility near Chennai and signed a Memorandum of Understanding with the Tamil Nadu government on Wednesday. The factory, which will come up at Oragadam in neighbouring Kancheepuram district, is expected to generate 5,000 jobs in the region, the state government said.
The news of Dixon Technologies (India)'s tie-up with HP in addition to its existing Lenovo and Acer partnerships has led to a 5 per cent stock uptick since the start of the week. Dixon can target roughly 60 per cent of India's addressable IT hardware market with these contracts. Dixon targets Rs 48,000 crore in revenue from IT hardware under the PLI scheme over the next six years.
'We are increasing our footprint, but other markets also compete - like Indonesia or Vietnam.'
Stocks of electronics manufacturing services companies have been major outperformers, with four of the top eight listed majors by market capitalisation doubling their value over the past 12 months. The biggest gainer in this space has been the market leader, Dixon Technologies (India), which is up nearly threefold.
LG Electronics India made a dazzling market debut on Tuesday, ending 48 per cent higher than its issue price and surpassing its South Korean parent in market value.
Dixon Technologies' January-March quarter (Q4) results came in well below expectations, but the potential for signing up a new mobile client, and plans for backward integration into display manufacturing kept investors happy. Dixon's Q4FY24 revenue grew 52 per cent year-on-year (Y-o-Y) to Rs 4,660 crore, below Street consensus, due to weakness in consumer electronics (Rs 890 crore) and home appliances (Rs 294 crore) segments.
Dixon Technologies right now is a beehive of activity. It is building a new facility in Noida to make 1.3 million laptops for Taiwanese PC maker Acer. The facility must be up and running in four months. The pace of activity will only increase. Last week Dixon won a similar contract from Lenovo, the Chinese personal computer maker and the third largest information technology (IT) hardware brand in India, to assemble laptops and notebooks. Though the clientele in these two cases is Taiwanese and Chinese, Dixon is a company reaching for the stars with its feet planted firmly in the Indian government's policy.
Prabhsimran's blazing ton, Iyer-Parag fifties guide India A to 2-1 series win over Australia A
The stock of Dixon Technologies (India), the country's largest listed electronic manufacturing services (EMS) player, was up 6 per cent in 10 trading sessions, boosting the gains over the last three months to 21 per cent. The gains came following reports that Dixon will produce laptops in India in partnership with US and Chinese firms under the production-linked investment (PLI) scheme. It recently signed an agreement to make smartphones for Xiaomi India.
Australia openers Sam Konstas and Nathan McSweeney were on Thursday named in the 'A' squad bound to India to play two four-day matches in Lucknow in September, with an eye on the Border-Gavaskar Trophy 2026-27.
'From tariff tensions and border skirmishes to unrest in West Asia.' 'The worst may be behind us. But any further upmove will now have to come from earnings.'
A Rs 23,000-crore production-linked incentive (PLI) scheme for electronic components may boost margins and enable a broader product mix.
Consumer durable companies in India have begun early-stage talks with US importers at a time when the tariffs levied on Indian products are lower than those on competitors such as China. While the discussions started some time ago, many believe that the Donald Trump administration's tariff measures will help Indian companies expand their presence in the US market.
Leading home-grown companies - Dixon Technologies (India), Amber Enterprises India, Tata Electronics, Chennai-based Munoth Industries, and Murugappa Group - along with global majors such as Japan's TDK Corporation, Taiwan's Hon Hai Technology Group (Foxconn), Austria's AT&S Austria Technologie & Systemtechnik AG (AT&S AG), and Japan's Murata Manufacturing Co, among others, have expressed initial interest in participating in the Rs 22,919 crore production-linked incentive (PLI) scheme cleared by the Union Cabinet, according to those privy to stakeholder discussions with the government.
They are both electronic manufacturing services (EMS) companies, also known as contract manufacturers. One is Taiwan's Foxconn group, the undisputed global number one in this business with revenues of $223 billion. The other is Dixon Technologies, the biggest domestic player with revenues of over Rs 10,500 crore.
Jacob Anderson scored the fastest goal in the Hockey India League history, but it went in vain as the Hyderabad Toofans lost to Team Gonasika in the shootout.
The Uttar Pradesh government and iPhone maker Foxconn have started discussions to set up an electronics manufacturing unit in the state, sources aware of the development said. The investment pitch was made by Invest UP to Foxconn at the time of the final land allocation for the HCL-Foxconn chip joint venture Vama Sundari.
Today, Vachani's public-listed company, Dixon Technologies, has gone beyond manufacturing just television sets. Armed with private equity funding from Motilal Oswal eight years ago, it has transformed itself into a Rs 4,400 crore electronic manufacturing services major, which now straddles lighting products, home appliances, feature phones, LED bulbs, amongst others. A two-part series looks at how two home-grown manufacturers are leveraging the govt's production-linked incentive scheme.
Home-grown companies, including electronics manufacturing services (EMS) firm Dixon Technologies and mobile device maker Lava International, have started exploratory talks with Chinese sub-assemblies and component players for setting up joint ventures (JVs) in the country. Sources in the industry say many domestic companies have also had preliminary discussions with original design manufacturers (ODMs) in China to look at a JV model for manufacturing smartphones. Key ODM players in mobile devices in China include Longcheer, Huaqin, and Wingtech, which has already set up a plant in Tirupati.
Holding on to a comfortable lead, Toofans pushed ahead for a third when Sam Ward's terrific stickwork saw him control an aerial ball and dribble his way into the box before earning a penalty corner.
The Gujarat Titans coach has been issued a show cause notice by the Cavelossim Village Panchayat for allegedly constricting a road and felling trees in a No Development Zone.
Domestic institutional investors (DIIs) have infused a record Rs 4.6 trillion into Indian equities over the course of Samvat 2080, marking the highest net annual investment in any Samvat to date. This robust domestic inflow has effectively counterbalanced the comparatively subdued investments from foreign portfolio investors (FPIs), who contributed a net Rs 90,956 crore within the same timeframe. Against this backdrop, the Nifty 50 and BSE Sensex indices are on track to achieve their best performance in three Samvat years, despite recent market corrections.
Harmanpreet Singh's goal from a penalty stroke just a minute from the hooter gave India victory over New Zealand in the men's hockey tournament atthe Olympics on Saturday.
Tom Straker's six-wicket haul and Harry Dixon's fifty inspired Australia to a tense one-wicket victory over brave Pakistan in the semifinal in Benoni on Thursday, setting up their ICC Under-19 World Cup final against defending champions India.
IMAGES from the Under-19 World Cup final between India and Australia in Benoni on Sunday
The Indian equity markets will soon account for over a fifth of a key emerging market (EM) benchmark tracked by funds with assets exceeding $500 billion. This development is expected to funnel as much as $3 billion into the domestic markets. Following the latest review undertaken by global index provider MSCI, India's weighting in the MSCI EM index will surpass 20 per cent for the first time, narrowing its gap with the current top-weighted China to fewer than 400 basis points.
Consumers may have to shell out more to buy television panels as manufacturers say they may raise prices again in April. The industry has been facing this issue of price rise post the pandemic and open cell prices have gone up by around 30 per cent in the last one year. And, television panel manufacturers expect this trend to continue.
A task force set up by the Ministry of Electronics and Information Technology (Meity) for transforming India into an "electronic and semiconductor products" nation is on the verge of finalising its report, which is likely to recommend an allocation of Rs 44,000 crore between 2024 and 2030 to support homegrown companies in their quest to develop products and build global brands. The task force's recommendations include significant incentives: Rs 15,000 crore dedicated to electronic products (systems), Rs 11,000 crore for semiconductor products, and Rs 18,000 crore for various other incentives such as talent development, common infrastructure, logistics, and technology & IP (intellectual property) acquisition, a member of the panel revealed.
Led by Saharan, who is leading the batting charts with 389 runs, the team's performance got better with each match and the only time it has been pushed to a corner in the tournament is the semifinal where it pipped hosts South Africa by a solitary wicket.
Overall market reaction to the Budget was neutral. Investors absorbed the changes to the tax rates (positive for salaried class) and capital gains taxes (CGTs, negative due to the removal of indexation and increases. Other proposals largely pertain to supporting rural development, buybacks taxed as dividends, Custom duty changes that impact multiple sectors, higher outlays for clean energy, etc. There's some moderation in the growth of capex outlay across defence, fer
Following in Apple's footsteps, Alphabet - Google's parent company - is in advanced talks with Foxconn to manufacture Pixel smartphones in Tamil Nadu, an industrial state which will also double up as drone-manufacturing hub for the US tech giant soon. According to a state government release, officials from Google will soon visit Chennai to meet Tamil Nadu Chief Minister MK Stalin to hold discussion on manufacturing of Google Pixel near Chennai.
India and Australia will battle it out for supremacy in the ICC U19 Men's Cricket World Cup final on Sunday in Benoni. Check out Australia's road to final.
A dominant Australian side produced a superb all-round performance to secure their fourth ICC Under-19 World Cup crown.
Musheer Khan, Uday Saharan, Sachin Dhas, Saumy Pandey named in U19 World Cup Team of the Tournament
Finnish phone manufacturer Human Mobile Devices (HMD Global), which acquired the Nokia brand name from Microsoft, is planning to make India a key manufacturing hub for its phone exports. The company only began exporting late last year with the Nokia 105 Classic. What started mainly with feature phones will now extend to smartphones - it announced the global launch of models under the HMD brand for the first time a few days ago and these will be available in India too.
Bezzecchi came out with flying colours registering the best time to grab his third pole of the season.
The stage is set for another blockbuster India vs Australia ICC final. The two powerhouses of cricket are chasing a historic win on Sunday.
Making the Pixel 8 in India will not necessarily bring the price down -- witness iPhones made in India that are more expensive than those in the US and Dubai.
Australia blanked England while South Africa and Bangladesh showed their bowling prowess with mighty wins over Zimbabwe and USA respectively. In the 16th-place play-off, Afghanistan fought off a spirited USA side to win a low-scoring thriller.
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