Dixon Technologies is pressing ahead with plans to establish a multibillion-dollar display fabrication facility in India, with active discussions underway involving a global technology player. The proposed investment of around $3 billion is aimed at localizing production, achieving cost efficiencies, and tightening supply chain control for a range of end products, including televisions, mobile phones, notebooks, tablets, and automotive applications. The company is expecting to allocated 60% of the production to TVs compared with about 15% for smartphone displays. The anticipated 8.6G display fab is expected to have a monthly capacity of 60,000 substrates and deliver annual revenue contributions of $1.7–2 billion once the project is fully operational.
A partnership with Chinese firm HKC has led to the finalization of a manufacturing location, and production is expected to commence in the first half of the next fiscal year, although Dixon is awaiting policy guidelines under India Semiconductor Mission (ISM) 2.0 before proceeding. A display module unit is also due to come online over the next two to three quarters, while the anticipated government subsidy could potentially cover up to 70% of the project’s capital expenditure.
The latest move into display manufacturing arrives on the heels of Dixon’s strong financial report for the quarter ended December 2024, with net profit surging 124% YoY to Rs 217 crore ($27 million). The company recorded a 117% jump in revenue to Rs 10,461 crore ($1.31 billion), and EBITDA more than doubled to Rs 398 crore ($50 million).
Beyond the display venture, Dixon is expanding into telecom and networking products as part of a broader push to establish India as a global telecom equipment hub. The company’s subsidiary, Padget Electronics, has already begun producing Google Pixel smartphones domestically, potentially adding Rs 15 billion ($187 million) to overall revenues by FY26. Dixon aims to bolster near-term growth through new customer acquisitions and an increased share in the mobile phone sector, with laptops and IT hardware also identified as key areas for further development.
