Shares of Dixon Technologies (India) Ltd were trading in the green and 2% higher on 8 May after the company announced signing an agreement with Nokia for manufacturing telecom products. 

In its regulatory filing, the company said that one of its subsidiaries, Dixon Electro Appliances Private Limited, had entered into an agreement with Nokia Solutions and Networks for developing and manufacturing telecom products that will take place at the company’s manufacturing facility in Noida, Uttar Pradesh. 

Dixon is in the mobile phones business and manufactures 11 million smartphones and 26 million feature phones in 9MFY24. 

The company is also exploring opportunities in the lighting business and planning to launch new professional and industrial lighting solutions with an aim to capture a 35% to 40% share of India’s smartphone market. 

They are also tapping into outsourcing opportunities for brands, focusing on venturing into new segments like IT products, Electronics, LED lights, and AC components. 

The company was founded in 1993 and specialises in manufacturing mobile phones, lighting products, and consumer durables. 

At 3:30 pm, the shares of Dixon Technologies closed 1.53% higher at Rs 8,431 on NSE.