Dixon starts LED TV production for Xiaomi

The company has commenced production for Mi LED TVs for Chinese brand Xiaomi in Tirupati. Dixon Technologies has started manufacturing Mi LED Smart TVs of 32-inch and 43-inch screen size.

Dixon Technologies and Xiaomi had earlier entered into an agreement for manufacturing of LED TVs locally in India under the central government's Make in India programme at its new facility in Tirupati, Andhra Pradesh.

Earlier in Q1, the company had commenced LED TV production for iFFALCON.

Dixon Technologies operates in consumer electronics, lighting products, home appliances, mobile phone, reverse logistics and security systems segment. The company reported de-growth of its mobile business in Q1FY19, while other segments showed slight revenue growth. The company posted revenue of Rs. 59,268 in Q1FY19 as against Rs. 69,629, in Q1FY18, with revenue de-growth of 15 per cent.

Reacting to this development, the stock of Dixon Technologies was quoting Rs. 2,555.00 per share up by Rs. 69.50 or 2.80 per cent at 10:05 hours on Friday. The benchmark index BSE Sensex was at 34,949.31, down by 219.85 points or 0.63 per cent, while Nifty50 was at 10,496.30, down by 102.95 points or 0.97 per cent.