Dixon Technologies (India) Limited announced in an exchange filing that the company’s wholly-owned subsidiary, Padget Electronics Private Limited, had entered into an Agreement with Longcheer Mobile India Private Limited.
On April 19, 2024, Padget Electronics Private Limited entered into an agreement with Longcheer Mobile India Private Limited to undertake the manufacturing and sale of smartphones for large global brands using Longcheer’s design and technology.
The company stated that Longcheer has strong capabilities in product-level solution design, hardware innovation design, system-level software platform development, lean production, supply chain integration and quality control capabilities. They offer integrated smart product services to leading global consumer electronics brands and tech enterprises with global delivery capabilities across multiple countries and regions. It has approximately 28% share of Original Design Manufacturers (ODM) at a worldwide level.
Commenting on this association, Vice Chairman and Managing Director of Dixon Technologies
(India) Limited, Mr Atul B. Lall, said, “It gives us immense pleasure to partner with ‘Longcheer’ to undertake manufacturing and sale of smartphones for large global brands with Longcheer’s design and technology. This association will give a strong impetus to India’s manufacturing competitiveness.”
He further added, “We are ecstatic and encouraged by the trust that Longcheer and its designated customers have reposed on Dixon group for the proposed association, and we firmly believe that this association will leverage our excellence, superior execution track record and Longcheer’s deep expertise in mobile phones. We see them as an ideal partner who shares our core values of quality, engineering prowess, innovation & customer satisfaction.”
He also stated that they are confident that this is just the beginning of a considerable and prolific relationship, and there is huge potential to further build on the shared capabilities to deliver sustainable growth.
Dixon Technologies (India) Limited is the most considerable home-grown design-focused and solutions company that is involved in manufacturing products in the mobile phone, consumer durables and lighting markets in India.
On April 19, 2024, the share price of Dixon Technologies (India) Ltd opened at ₹7,450.00, touching the day’s high at ₹7,465.00, as of 1:12 PM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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