Dixon Technologies (India) Ltd. Executes Joint Venture Agreement with Longcheer Intelligence Pte. Ltd. and Dixtel Infocom Private Limited
Dixon Technologies (India) Ltd. has executed a Joint Venture Agreement with Longcheer Intelligence Pte. Ltd. and Dixtel Infocom Private Limited, a Wholly Owned Subsidiary of Dixon, for governing inter-se relationship of Dixon and Longcheer in respect of operation and management of the JV Company. The JV Company will be engaged in the business of manufacture and supply of smart phone/tablets, true wireless stereo, smart watch, Al PC, automotive electronics, healthcare devices etc. The closing of the JV Agreement is subject to satisfactory completion of conditions precedent as set out in the JV Agreement. Upon effective closing of the JV Agreement, the JV Company will be held in the proportion of 74:26 by Dixon and Longcheer respectively.
Key Highlights
- Dixon Technologies (India) Ltd. has executed a Joint Venture Agreement with Longcheer Intelligence Pte. Ltd. and Dixtel Infocom Private Limited.
- The JV Company will be engaged in the business of manufacture and supply of smart phone/tablets, true wireless stereo, smart watch, Al PC, automotive electronics, healthcare devices etc.
- The JV Agreement is subject to satisfactory completion of conditions precedent.
- Upon effective closing of the JV Agreement, the JV Company will be held in the proportion of 74:26 by Dixon and Longcheer respectively.
- The collaboration is expected to introduce several key advancements, particularly in Original Design Manufacturer (‘ODM’) expertise and will facilitate the localisation of the non-semiconductor sub-component manufacturing in India.