News: The ED has seized amount Rs 5551 crore of electronic major Xiaomi Technology under the violation of foreign exchange management.
Views: Dixon is the contract manufacture of LED TV for Xiaomi, Samsung, Panasonic etc. The LED TV division of Dixon (i.e. Consumer Electronic) contributes ~50% of its overall topline. Xiaomi is one the key customer for Dixon’s consumer electronic division and the said action by the ED would have repercussion on Dixon’s financials if not resolved.
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