Dixon Eyes Revenue Surge as India Expands Electronics Manufacturing

Dixon Technologies, the contract manufacturer for Google Pixel smartphones, is set to more than double its revenue this fiscal year, fueled by India’s booming electronics manufacturing sector. As global tech giants like Google and Apple shift their supply chains away from China, India is emerging as a major electronics production hub.

“The growth trajectory for both Dixon and the sector is going to be extremely aggressive,” said Managing Director Atul Lall.

Dixon reported ₹17,713 crore ($2.04 billion) in revenue for FY24, a 45% jump from the previous year. Its revenue for the first nine months of FY24 stood at ₹28,577 crore, reflecting strong demand.

The Noida-based company, which also assembles smartphones for Xiaomi and Oppo, is expanding into component manufacturing as India rolls out multi-billion-dollar incentives for mobile and laptop parts production. The sector is expected to grow from ₹1.46 lakh crore in 2022 to ₹6 lakh crore by FY27, according to Motilal Oswal.

However, potential U.S. tariffs could pose a risk, with analysts estimating a $7 billion annual impact on India’s exports. Dixon remains cautious, awaiting further clarity from U.S. policymakers.

Source: The Economic Times