Why Amber Enterprises’ Oppo deal comes with caveats

Amber Enterprises announced entry into smartphone manufacturing through a collaboration with Oppo India, but analysts flagged caveats including wafer-thin margins of around 1-2% and competition from incumbent Dixon Technologies, which has a stickier ODM tie-up via its JV with Longcheer. The Oppo, Realme and OnePlus combined market share in India has dropped from 28.5% in FY24 to 25.7% in FY26, with shipments declining to 39 million units. Amber has guided for 8 million smartphone units in FY28, ramping to 14-15 million, with capex kept low via a sub-lease arrangement within Oppo's existing Noida facilities.