• Smartphone volume guidance: Dixon expects FY27 mobile handset volumes to remain steady at 33 million units, potentially expanding to 37 million upon the introduction of PLI 2.0. Selling prices are projected to rise 12–15% as higher memory chip costs are passed through to clients.
• Vivo joint venture: Regulatory approvals for the partnership have been delayed, but management expects the JV to close without bottlenecks. The deal is slated to transfer roughly 67% of Vivo's volume (around 22 million units annually) and contribute ₹25,000–30,000 crore in annualized revenue.
• Margin expansion outlook: Operating margins are projected to expand by 50–70 basis points next fiscal year, driven by backward integration. Camera module production will ramp up in Q3, while display plant trials are scheduled for Q3 followed by production in Q4.
• Non-mobile segment growth: IT hardware revenue is targeted to expand roughly 3X from ₹1,500 crore toward a $1 billion-plus business in the next few years. Concurrently, the Bharti Airtel telecom JV is guided to reach ₹7,500–8,000 crore in revenue this year.