Dixon Technologies has signed a MoU with HP India

Dixon Technologies is a Noida-based Indian provider of manufacturing services for electronics. For businesses like Samsung, Xiaomi, Panasonic, and Philips, it provides contract manufacturing services for televisions, washing machines, cellphones, LED bulbs, battens, downlighters, and CCTV security systems.

MoU between HP and Dixon Technologies:

On Monday, September 9, Dixon Technologies (India) Ltd, a prominent contract manufacturer, announced that HP India Sales Private Ltd. and its wholly owned subsidiary Padget Electronics Private Ltd. had signed a Memorandum of Understanding (MOU).

Dixon Technologies said in a regulatory filing that Padget will produce notebooks, desktops, and all-in-one PCs for HP under the terms of this agreement, pending the signing of final agreements in due course. HP is a top supplier of digital access devices, imaging and printing products, personal computers, and related technology solutions and services worldwide.

Statement from Atul B. Lall, Vice Chairman and Managing Director of Dixon:

Atul B. Lall, Vice Chairman and Managing Director of Dixon Technologies (India), said, “It gives us immense pleasure to partner with the iconic brand HP to manufacture PCs under PLI 2.0. HP is a leading global player in their field, known for its technologically advanced products with a worldwide presence in more than 170 countries. We are sure that HP’s vision, stringent industry-leading protocols, and manufacturing know-how will enable us to provide Indian customers with a range of HP personal systems.

Remark from HP India’s managing director, Ipsita Dasgupta:

It is with great pleasure that we announce the partnership between Dixon Technologies and HP to produce HP products under the Production Linked Incentive scheme (PLI 2.0),” said Ipsita Dasgupta, Managing Director of HP India. This announcement confirms that HP is proud to support the government’s Made in India initiative going forward.

Today, Dixon Technologies (India) Ltd.’s stock has increased by more than 2%:

Dixon Technologies (India) Ltd.’s stock is up 2.81% to Rs. 12,400.00 on the BSE as a result of the Memorandum of Understanding that was signed with HP India yesterday. The stock is currently trading at Rs. 12,568.80 per share.

Conclusion: Dixon Technologies and HP have signed an agreement that will steer the plan’s manufacturing in India. Over time, both companies will greatly benefit from this agreement.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.