With this, Padget Electronics has now become a wholly-owned subsidiary of Dixon Technologies.
Electronics manufacturer Dixon Technologies said that it has acquired 50 per cent shares in its joint venture company, Padget Electronics Private Ltd.
Dixon had previously held a 50 per cent stake in Padget. With this, Padget Electronics has now become a wholly-owned subsidiary of Dixon Technologies, the OEM said. Padget had a turnover of Rs 1,351 crores in the financial year 2017-18.
A strong player
Along with the manufacturing of mobile phones, Noida-headquartered Padget Electronics is also involved in the manufacturing of home appliances, digital appliances, electronic appliances and industrial appliances.
Dixon Technologies India Ltd is engaged in the manufacturing of products in the consumer durables, lighting and mobile phones markets in India.
Its product portfolio includes consumer electronics, home appliances, lighting products and mobile phones. It also provides solutions in reverse logistics, which includes repair and refurbishment services of set-top boxes, mobile phones and light-emitting diode (LED) television panels.
Dixon Technologies currently operates in six manufacturing facilities located in Uttar Pradesh and Uttarakhand.