Dixon to manufacture mobile phones for Samsung
Dixon Technologies and Samsung India Electronics, entered into an agreement for manufacturing Mobile Phones. Dixon will be manufacturing feature phones for Samsung from its new manufacturing facility located at Noida, Uttar Pradesh.
The relation of Dixon and Samsung is not new as they have been associated with each other in home appliances segment since past two years and now they are entering into a manufacturing agreement for mobile phones. Samsung is one of the most valuable technology brands in the world and is a leading mobile phone brand. This will support Dixon to maintain a strong client base.
Dixon Technologies is the largest home grown design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones markets in India. 70 per cent revenue of Dixon comes from mobile phone manufacturing. Dixon also manufactures mobile phones for Xiaomi. Diwali sales offers of Xiaomi resulted into increasing revenue of Dixon and this mobile phones deal with Samsung will show revenue uptick not only in the coming quarter but the coming year as well.
On Friday, the stock of Dixon Technologies opened at Rs. 3030 per share and made an intraday high and low of Rs. 3077.40 and Rs. 2987.60, respectively on the BSE. At 11.43 am the stock was trading at Rs. 3004.30, down by 0.29 per cent.