Dixon Tech subsidiary to make Nokia smartphones at Noida plant

Dixon Technologies (India) said its wholly-owned subsidiary, Padget Electronics, has entered into an agreement with HMD India for manufacturing of Nokia smartphones.

The smartphones will be manufactured at Padget's manufacturing facility situated at Noida, Uttar Pradesh.

Commenting on this occasion, Atul B. Lall, vice chairman & managing director, Dixon, said: It gives us immense pleasure to announce that we have partnered with HMD Global as manufacturers of Nokia smartphones in India, which is an iconic brand. They have established a strong and trusted foothold globally thanks to their advanced technology. We are sure that with their vision and stringent industry-leading processes, combined with our expertise in manufacturing, we will be able to bring a range of Nokia smartphones to customers."

Dixon Technologies (India) is a design-focused products and solutions company. The firm engages in manufacturing products in the consumer durables, lighting and mobile phones markets in India.

The company reported 22% rise in consolidated net profit to Rs 52.36 crore on a 17% rise in net sales to Rs 1638.74 crore in Q2 September 2020 over Q2 September 2019.

The scrip slipped 0.64% to Rs 13,982.95. The stock has declined by 8.59% in five sessions.

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