- Dixon’s wholly-owned subsidiary, Padget Electronics, has signed an agreement with Motorola for manufacturing of smartphones
- The products will be manufactured at Padget’s manufacturing facility situated at Noida, Uttar Pradesh
As per a report by the Economic Times, Dixon Technologies has entered into an agreement to manufacture smartphones for phone brand Motorola. This pushed up the electronics maker’s shares over six per cent.
The report added that the company said in an exchange filing that Dixon’s wholly-owned subsidiary, Padget Electronics, has signed an agreement with Motorola for manufacturing of smartphones. The products will be manufactured at Padget’s manufacturing facility situated at Noida, Uttar Pradesh. Atul B Lall, vice chairman at Dixon, said in the filing that the company is positive that this is just a starting leg of a long and prolific relation. It will be doing smartphones for Motorola.
Padget Electronics approved under PLI scheme
The Economic Times had reported in September that Motorola Mobility, owned by Hong Kong-headquartered gadgets brand Lenovo, was in talks with Indian manufacturers to lend out a contract worth $1 billion (about Rs 7,400 crore) for assembling smartphones.
The report added that Padget Electronics is one among the five Indian companies that has been approved to receive incentives for incremental production of mobile phone handsets under the production-linked incentive (PLI) scheme. It added that Dixon has invested Rs 75 crore for setting up its 11th manufacturing plant in Noida. It will be the company’s third dedicated factory for assembling mobile handsets.
