Dixon, boAt form JV for audio items
The Hindu
Imagine Marketing, which manufactures products under the brand ‘boAt’, on Tuesday announced a 50-50 joint venture with Dixon Technologies for the design and manufacture of wireless audio products in I
Imagine Marketing, which manufactures products under the brand ‘boAt’, on Tuesday announced a 50-50 joint venture with Dixon Technologies for the design and manufacture of wireless audio products in India. The companies will co-invest in the Indian mobile accessories market.
They estimate the joint venture to earn revenues of about ₹1,000 crore in the next four years, and will be making an investment of about ₹40 crore during the period, said Saurabh Gupta, chief financial officer, Dixon Technologies.
Vivek Gambhir, CEO, boAt, added that the joint venture was expected to create direct employment for 500-600 people over the next couple of years. “boAt’s understanding of the audio industry combined with Dixon’s manufacturing capabilities will facilitate a vibrant platform for electronics accessories design and manufacturing in India. With a focus on IP, product design and quality assurance, and high-quality manufacturing, the joint venture is aimed at paving the way towards the “Make in India” initiative,” Mr Gambhir said.
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