Dixon Technologies (India) announced that it has signed a term sheet with Mega Alliance Holdings to form a joint venture (JV) in India to design and manufacture mobile communication equipment and related solutions. Dixon will own 51% of the equity share capital in the prospective JV company, while Mega Alliance will own 49%. Tinno Group owns Mega Alliance Holdings. With a revenue of approximately $1.9 billion in 2021, it is one of the largest smartphone original design manufacturers (ODM).
Tinno not only has a set of R&D capacity based on chipsets, including software and hardware, but it also has top-tier ability among Asian companies to implement industrial styling and mechanical design. Tinno has strong partnerships with Top Brands in over 30 countries across South Asia, Latin America, and Europe. The proposed joint venture company will conduct research and development, product design, and supply chain management for a variety of product categories such as smart phones, IT Hardware products, IOT-based products, and other similar devices that facilitate voice and data communications for the domestic and international markets.
Dixon’s 100% subsidiary Padget Electronics, which is a beneficiary of the Government’s mobile production linked scheme (PLI), will manufacture smart phones for this JV.”Tinno is one of the largest ODM solution providers in the Smartphones & IOT segment, and thus, we highly anticipate that this venture will not only give a boost to design led manufacturing in India by bringing in the skills and technology, but will also further strengthen the company’s market leadership in the mobile vertical,” the company stated.