Dixon will benefit from the acquisition of sub-licensing rights for Android and Google TV Tech

Dixon will benefit from the acquisition of sub-licensing rights for Android and Google TV Tech

News Summary:

  • Google is a legendary organisation, and I am thrilled and inspired by the trust they have placed in Dixon, according to Atul B. Lall, vice chairman and managing director. Customers are demanding more options as the streaming market expands, and Dixon’s product lineup is ready to meet these requests. This has been made possible in large part as a result of the company’s unwavering focus on innovation, backward integration, enormous scale, and strong relationships with National & International brands.

  • Following the company’s announcement that it is the first contract manufacturer in India to receive the sub licencing rights relating to Android & Google TV, shares of the domestic LED TV manufacturer increased 1.97% to Rs 4187.75. Dixon Technologies stated that this new partnership will enable the company in offering a cost effective, consistent, high quality & out of box experience to its existing customers & potential new brands, further strengthening the company’s market leade.

Dixon Technologies (India) is the largest home-grown design-focused and solutions company engaged in contract manufacturing products in the consumer durables, lighting and mobile phones markets in India. The company reported a 151.7% surge in consolidated net profit to Rs 45.70 crore on 52.9% jump in net sales to Rs 2,855.07 crore in Q1 FY23 over Q1 FY22. On a year-to-date (YTD) basis, the stock has declined by 24.02% while the benchmark Sensex has added 1.73% during the same period. (This story has not een edited by Business Standard staff and is auto-generated from a syndicated feed.)

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