On December 16, India’s Dixon Technologies announced that it has signed a binding term sheet with India’s vivo Mobile to establish a joint venture in India, acting as an Original Equipment Manufacturer for Electric Appliances, including Smart Phones. Dixon will Hold 51% of the shares in the joint venture, while vivo will Hold the remaining shares. The factory will handle a portion of vivo India’s OEM Smart Phone Orders and may also produce electronic products for other brands.