Chinese mobile company Vivo plans to hive off its Noida-based manufacturing unit to its upcoming joint venture with domestic electronics manufacturing services firm Dixon Technologies and move to an asset-light business model in India, sources aware of the development told PTI. The government on Wednesday approved Vivo Mobile India's application to form a joint venture with Dixon Technologies. The approval came after about 18 months of signing a pact between the two companies. "Vivo's Noida manufacturing unit will become part of the JV and gradually the mobile company will move to an asset-light business model," a source aware of the development said. Email query sent to Vivo and Dixon in this regard did not elicit any immediate reply. Dixon Technologies will hold a 51 per cent stake in the proposed JV and Vivo Mobile India Private Limited (VMI) will hold 49 per cent stake. The JV company will carry on the business as an original equipment manufacturer (OEM) of electronic devices
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