Chennai : Indian electronics maker Dixon Technologies, supplier to brands such as Samsung and Xiaomi, expects a 12% growth in revenue in the current fiscal and is looking at setting up a plant in Tamil Nadu state, a top executive said on Monday. told Reuters.
Dixon Managing Director Atul Lal said the company is “seriously looking” at investing in Tamil Nadu in the next 12-18 months. It currently has factories in three states, but not in Tamil Nadu, which is the center of electronics and automotive manufacturing and houses major production facilities of Apple suppliers such as Foxconn and Pegatron.
Lal was speaking to Reuters on the sidelines of an electronics event in the southern Indian state.
His forecast for sales growth of 12% in the fiscal year ending March 2023, to about $1.45 billion, would mark a sharp deceleration from 66% growth in the previous fiscal year.
Lal said contract manufacturing of wireless products such as telecom equipment, smart watches and ear buds is likely to increase revenue by 15-20%.
Dixon’s share price has been under pressure in recent months due to slowing sales growth in previous quarters.
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