Dixon Technologies (India) said that Padget Electronics has entered into an agreement with Longcheer Mobile India for undertaking manufacturing and sale of smartphones for large global brands with Longcheer's design and technology.
Padget Electronics is the wholly owned subsidiary of Dixon Technologies.
Longcheer has strong capabilities in product-level solution design, hardware innovation design, system-level software platform development, lean production, supply chain integration & quality control capabilities.
Longcheer provides integrated smart product services to global leading consumer electronics brands & tech enterprises across multiple countries & regions with global delivery capabilities & has approximately 28% share of ODM at global level.
Atul B. Lall, vice chairman & managing director, Dixon Technologies (India), said: It gives us an immense pleasure to partner with 'Longcheer for undertaking manufacturing and sale of smartphones for large global brands with Longcheers design and technology.
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 deep expertise in mobile phones."
Dixon Technologies (India) 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. Their diversified product portfolio includes consumer electronics like LED TVs; home appliances like washing machines; lighting products like LED bulbs and tubelights, downlighters; mobile phones; and CCTV & DVRs Medical Equipment; wearables; refrigerators. Dixon also provides solutions in reverse logistics i.e. repair and refurbishment services of LED TV panels.
The company reported 87% jump in consolidated net profit to Rs 970.7 crore on 100% increase in revenue from operations to Rs 4,818.25 crore in Q3FY24 over Q3 FY23.
The scrip fell 2.55% to currently trade at Rs 7311 on the BSE.
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