India EMS - Amber forays into mobile EMS with Oppo

研报英文原文证据摘录

India EMS - Amber forays into mobile EMS with Oppo

Global Markets Research

21 June 2026India EMS

EQUITY: CONSUMER RELATED

Amber forays into mobile EMS with Oppo Research Analysts

India Consumer Durables

Localisation, rising value-addition key to success; we Siddhartha Bera, CFA - NFASL

siddhartha.bera@nomura.comanticipate minimal risk to Dixon’s mobile volumes

+91 22 403 74362

AmberEnterprises(AMBERIN,Notrated)announcedamanufacturingcollaboration

Kapil Singh - NFASLagreementwithOppoMobiles(unlisted)on18June(link),andfollowedupwithacall kapil.singh@nomura.com

withinvestors/analystson20Junetodiscussthisdevelopment. +91 22 403 74199

Amber collaborates with Oppo for mobile manufacturing Tisha Mandavia - NFASL

tisha.mandavia@nomura.com

• Under this partnership, Amber Group will manufacture mobile phones for OPPO, +91 22 403 74034

OnePlus and Realme brands in India.

• Synergies: The collaboration combines the brands' global product expertise with

Amber's Indian manufacturing scale, operational capabilities, local value-addition

potential, and supply-chain strengths.

Key highlights of the call

• Management noted that Amber will focus on understanding and enhancing capability

in mobile assembly with a long-term focus on component localisation and increased

value-addition. It expects to start with mobile assembly and SMT lines first, deepen

into HDI PCB in the second year and gradually increase local value-addition from

~10% currently to ~35-40% in the long term with the help of Oppo.

• Manufacturing operations will be conducted at the existing facility of Oppo, through a

sub-lease arrangement. No PN3 approval is required. Very minimal capex required,

below INR500mn.

• Production: Trials to begin by 4QFY27; and, commercial production to start in

1QFY28.