Electronics
Micron starts getting funds from Indian govt under semiconductor PLI scheme
The government initiated disbursement under the PLI scheme to Micron Technology, with Tata to follow. This move supports India's semiconductor sector, with Micron and Tata starting pilot manufacturing. Full-scale production for Micron is expected by December 2025, and Tata's main plant in Assam will take about three years to complete, aiding local manufacturing and investment.
Apple reports record quarterly revenue in India despite smartphone shipment dip
Apple achieved a new quarterly revenue record in India for the third quarter of 2024, bolstered by strong sales of iPhones and Mac computers. Despite a 2% decline in overall smartphone shipments in India, Apple saw substantial growth, securing the third position in market share. The company set revenue records globally and performed well in several emerging markets.
India smartphone market clocks highest ever revenue for Q2
India's smartphone market achieved record Q2 revenues of $10 billion, driven by premiumization despite a 2% decline in shipments. Vivo surpassed Apple in value terms, while Samsung led the market. Analysts predict significant growth with the introduction of sub-$99 5G phones by the end of 2024.
Dixon Technologies to open factory in Chennai, will manufacture laptops
Dixon Technologies is preparing to open a new factory in Chennai to manufacture laptops for top notebook brands in India, with plans for operations to begin within 8-10 months. The company's chairman, Atul B Lall, revealed that the facility will target growth in the IT products sector. The focus is on expanding production for global brands and capturing a significant share of the Indian IT market valued at nearly $10 billion.
Vivo shutters plans to offload majority stake to Tata on Apple roadblock
Vivo's ambitions to sell a 51% stake in its Indian operations to the Tata group were thwarted after objections from Apple, Tata's partner in iPhone manufacturing. This development puts a wrench in Vivo's strategy to 'Indianise' its operations amidst increased government scrutiny.
India could soon see a slew of 5G smartphones priced well under Rs 10,000 on Qualcomm chipset move
Qualcomm's chipset, locked to 5G standalone architecture, will be hitting the markets by the end of 2024, debuting on a Xiaomi device. Other smartphone brands such as HMD Global and Motorola said they will evaluate their options before launching devices powered by the chipset.
Vivo working with over 30 local component suppliers for its smartphones
Going forward, Vivo will be moving to a new manufacturing facility in Noida in 2024 and start sourcing components such as stabilisation modules for cameras, OLED displays, memory modules and more to increase value addition as part of its next phase of expansion.
India fast-growing market with huge potential: Samsung executive
Samsung sees significant growth prospects in India, as highlighted by CEO Jong-Hee Han during his visit to the Noida factory. He commended the tech-savvy youth and local R&D teams for driving innovation. Samsung manufactures smartphones, tablets, and refrigerators in its Noida and Tamil Nadu plants for both domestic and global markets.
'Samsung worried about low share in wearables segment, looks at options to improve'
Samsung is concerned about its low market share in the price-sensitive wearable business in markets like India and plans to address the issue by introducing low-cost fitness bands with limited capabilities and collaborating with the government and digital organizations to offer wearables as a service, a top executive said.
Polls, heatwaves cool smartphone sales in June qtr
In the June quarter, smartphone sales in New Delhi declined by 1-2% due to heatwaves and elections, causing an inventory buildup. Samsung, OnePlus, and Apple saw reduced shipments, although June improved with discounts. Vivo and Xiaomi excelled, with Xiaomi regaining the top spot. Despite higher average selling prices, the market experienced degrowth. Analysts expect recovery in the third quarter of 2024 during the festive season through discounts and promotions. Such events are shaping consumer expectations for price cuts, impacting brand value and profit margins.
Must Watch
iPhone prices slashed by up to Rs 6,000: Check new rates of Apple iPhones 13, 14 and 15
Iphone New Prices: Apple has announced a 3-4% price reduction across its iPhone portfolio, reducing the cost of Pro or Pro Max models by Rs 5100 to Rs 6000. The price of Made-in-India iPhones, including the 13, 14, and 15, has also dropped by Rs 3000. The iPhone SE will cost Rs 2300 less. This is Apple's first time reducing the prices of its Pro models, following a reduction in the basic customs duty on mobile phones from 20% to 15% in the latest budget.
Apple cuts prices of all its iPhones after customs duty relief
Apple reduced iPhone prices by 3-4%, benefiting customers due to a cut in customs duty from 20% to 15%. This is the first time Apple has decreased prices for its Pro models, passing the advantages of duty cuts directly to consumers. India-made iPhones 13, 14, and 15 also saw reductions.
HMD to make smartphones in India; export to other overseas markets: Chairman
HMD Global announced that its new self-branded smartphones, under the 'HMD Crest' series, would be made in India. The company plans to export these devices globally. This marks a significant shift in their strategy, focusing on locally produced smartphones tailored for both domestic and international markets. The Crest range smartphones will feature high-quality cameras and competitive pricing.
Nokia brand fading away as HMD smartphones take baby steps
HMD chief executive Jean-Francois Baril told ET that the company signed an agreement last August with Finland-based Nokia to ramp down the smartphone business with which it entered the global market in 2016. It however continues to leverage Nokia's large patent pool.
Investment of Rs 8282 crore is done under PLI Scheme for electronic manufacturing: Govt
As of June 2024, 32 companies invested Rs 8,282 crore under the Production-linked Incentive (PLI) scheme for large-scale electronics manufacturing in India. The investment includes Rs 3,136 crore from greenfield and Rs 5,146 crore from brownfield companies. PLI Scheme 2.0 for IT hardware saw 27 companies investing Rs 464.66 crore.
India's electronics manufacturing sector to see surge in jobs with new incentive schemes
The new employment-linked incentive schemes announced in the budget aimed at bolstering India's electronics manufacturing industry were expected to create millions of jobs by 2030. However, clarity was awaited on their applicability to contractual workers, a significant portion of the workforce, before their implementation in October.
