NEW DELHI, Jan. 30 -- December-quarter (Q3FY26) earnings from Dixon Technologies and Syrma SGS point to growing differences within India's electronics manufacturing services (EMS) sector: firms still dependent on mobile-device manufacturing are seeing pressure, while those with greater exposure to industrial and export-led segments are proving more resilient.

The performances of the two companies highlight the growing importance of diversification for EMS firms as cost pressures and a global slowdown in mobile devices weigh on the sector.

On Thursday, Dixon Technologies reported Rs.10,672 crore in operating revenue for Q3FY26, down 28% sequentially. Net profit fell 57% sequentially to Rs.321 crore. The company attributed most of the imp...