Dixon Tech gains on bagging sub licensing rights for Android & Google TV

Shares of the domestic LED TV manufacturer advanced 1.97% to Rs 4187.75 after the company announced that it is the first contract manufacturer in India to get the sub licensing rights relating to Android & Google TV.

Dixon Technologies said that this new partnership will enable the company in offering a cost effective, consistent, high quality & out of box experience to its existing customers & potential new brands which will further strengthen the company's market leadership in the LED TV category.

Atul B. Lall, Vice chairman & managing director, stated that, Google is an iconic company & I am delighted and encouraged by the trust they have bestowed on Dixon.

As the landscape for streaming grows, customer demands call for multiple choices and Dixon's product offerings are poised to answer such needs. This has been possible largely due to company's relentless focus on innovation, backward integration, large scale & strong relationship with National & International brands.

Dixon Technologies (India) is the largest home-grown design-focused and solutions company engaged in contract manufacturing products in the consumer durables, lighting and mobile phones markets in India.

The company reported a 151.7% surge in consolidated net profit to Rs 45.70 crore on 52.9% jump in net sales to Rs 2,855.07 crore in Q1 FY23 over Q1 FY22.

On a year-to-date (YTD) basis, the stock has declined by 24.02% while the benchmark Sensex has added 1.73% during the same period.

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