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Business Standard

France's Thomson enters Indian audio market with launch of TV soundbars

French consumer electronics brand Thomson, through its brand licensee Super Plastronics Pvt Ltd (SPPL), on Thursday announced its foray into the Indian audio market with the launch of soundbars here. Thomson, which is already present here in the TV and other appliances segments, also has plans to expand its play into the audio segment by launching more products in the soundbar and entering into the larger speaker and party speakers segment, SPPL CEO Avneet Singh Marwah said. As part of SPPL, it has invested Rs 50 crore to set up a new manufacturing unit at its existing Noida plant, which will produce half a million units in a year, he added. "We are aiming to have a 10 per cent market share of the audio segment in the online channels," Marwah said. According to Marwah, the Indian audio market is experiencing rapid growth. Sales of products such as soundbars have increased after a rise in sales of 4K smart TVs and the growing consumption of OTT content. "Now 85 per cent of customer

The Economic Times

Samsung sues Indian union over strike that disrupted production

Samsung Electronics' Indian unit has filed a lawsuit against members of a labor union leading an 11-day strike at its home appliances plant in Tamil Nadu. The company seeks a temporary injunction to prevent further agitation, which it claims could disrupt factory operations and employee safety. Discussions with workers are ongoing.

Business Standard

Amazon Great Indian Festival to begin from September 27, check top deals

The Amazon Great Indian Festival Sale is set for live on September 27, 2024. Major savings are expected in a variety of categories, in the grand sale, from home and kitchen appliances to so much more

Business Line

Haier Appliances India to hit $1-billion revenue in CY24

Targets a ₹11,500-crore turnover by 2025-end

Business Standard

Indian entrepreneur sells private arm of UK-based Tails Trading Group

Tails Trading Group, a UK-based supplier of multi-category consumer packaged goods led by an Indian entrepreneur, has announced the sale of its private labelling arm to a large international investor consortium for GBP 395 million. The group's labelling division has been a key supplier of a wide range of products including food and beverages, personal hygiene items, small domestic appliances and household cleaning products, with its diverse client base made up of large retailers, hotels, airlines and regional importers across North America and Europe. Terming this as a strategic move marking a significant milestone in his company's evolution, Siddharth Shankar, CEO of Tails Trading Group, said in a statement this week: We welcome this bid and are confident that the business and its social impact are safe, if not in better hands, with the new management. According to the group statement, the investor consortium is led by energy major NetOil and includes companies from the consumer ..

Business Line

AI-driven appliances flavour of the festive season

Consumer durable brands are betting big on smart, connected devices as consumers keen to upgrade

Business Standard

Water purifier maker Livpure eying over 1 mn subscriptions within 4 years

Livpure is betting big on its water-as-a-service model, targeting over 10 lakh subscriptions in the next four years as it intensifies efforts to scale up affordable access to clean and purified water across India, according to company Managing Director Rakesh Kaul. The company, also present in categories such as appliances, mattresses and sleep accessories, is targeting a turnover of Rs 900 crore this fiscal year, a growth of up to 60 per cent from the previous year. "India is a huge market, and everyone knows that purified water and access to purified water is a big challenge...Currently, in a country the size of ours, penetration of water purifiers is still at 7 to 8 per cent of the total household population of India," Kaul told PTI. With a view to reducing the cost of access to clean drinking water to consumers, he said,"We launched an innovative business model called water-as-a-service four years back, whereby we decided that the installation (of electric water purifier) will .

Business Standard

Samsung Electronics workers to continue strike after talks end without deal

Appliances including televisions, refrigerators and washing machines are made at the plant, which contributes 20 per cent to 30 per cent of Samsung Electronics' annual revenue of $12 billion in India

Business Standard

Tamil Nadu labour minister to meet Samsung officials to resolve strike

Appliances such as televisions, refrigerators and washing machines are made at the plant, which contributes 20% to 30% of Samsung's annual revenue of $12 billion in India

The Economic Times

ET Exclusive: Samsung India to lay off over 200 executives with business slowing down

Samsung Electronics is set to lay off over 200 executives in India due to slowing business growth and declining consumer demand. The layoffs will affect various functions, including mobile phones and home appliances. This move comes amid an ongoing strike at its Chennai factory, impacting production ahead of the festive season.

The Economic Times

This Diwali, quick comm comes bearing gifts; platforms partner FMCG brands for special packs, offers, ads

Quick commerce companies are collaborating with FMCG brands like Parle, Mondelez, and ITC for the festive season. They are aiming to boost inventory levels by 60% and offer special packs and promotions on chocolates, sweets, dry fruits, and cookies. The platforms are also partnering with consumer electronics companies for kitchen appliances and personal care products.

Business Line

Nestasia raises $8.35 million from Susquehanna Asia VC, Stellaris Venture Partners

The company plans to expand its product range within kitchenware, drinkware, cookware, and appliances and introduce new themed categories such as Nest Baby & Kids (home products for children), and others

Business Standard

Home decor brand Nestasia raises $8.35 mn in from Susquehanna Asia VC

Home decor and lifestyle brand Nestasia has raised USD 8.35 million in a fresh funding round from Susquehanna Asia VC, Stellaris Venture Partners and notable angel investors. The capital raise will scale the company's efforts in offline store expansion, new category launches, brand building, and hiring, according to a release. Nestasia plans to expand its product range within kitchenware, drinkware, cookware, and appliances and introduce new themed categories such as home products for children (Nest Baby and Kids), among others. Nestasia, which was founded in 2019 by Aditi Murarka Agrawal and Anurag Agrawal, offers a curated selection of home decor and lifestyle products across six key categories. "This funding empowers us to stay true to our mission to Make Home Special' by introducing fresh, on trend products, expanding our offline presence, and strengthening our brand connection with customers," Aditi Murarka Agrawal, Co-founder of Nestasia said. Nestasia has been expanding its

The Economic Times

Korean brand Daewoo enters home appliances segment to expand share in Indian market

Korean brand Daewoo has announced its entry into the kitchen and home appliances segment in India. The company, which already offers LED TVs and inverters, will now introduce products like induction plates, mixers, blenders, and more. Daewoo aims to expand its presence further into Southern and Eastern India.

Business Standard

ABB launches wireless home automation solution 'ABB-free@home'

ABB India announced the launch of ABB-free@home in India, a Smart Home automation system with enhanced interoperability. This cutting-edge and comprehensive wireless home automation solution is designed to enhance comfort, security, and energy efficiency for the residential segment. It allows users to integrate and control additional elements such as white good appliances, third party devices as well as EV chargers, through a single interface.

Business Standard

Govt approves Kaynes' Rs 3,307 cr semiconductor unit at Gujarat's Sanand

The government on Monday approved a proposal of Kaynes to set up a semiconductor unit in Sanand, Gujarat with 6.3 million chips per day capacity, entailing an investment of Rs 3,307 crore. Announcing the decisions of the Union Cabinet, IT Minister Ashwini Vaishnaw noted that a complete semiconductor ecosystem is coming up in India. "Today, the Cabinet has approved Kaynes' plant, with a capacity of 6.3 million chips per day. The plant will come up in 46 acres, it is a big plant and large portion of the production will go for Kaynes Industries, it has already been booked," the minister said. The plant will also cater to chips related to the power sector. The company has already acquired land in Sanand, Gujarat for the project, and construction will start soon. The proposed investment for the unit is about Rs 3,307 crore. "Power related chips..chips used in automobiles and home appliances, will also be produced in this plant," Vaishnaw said.

Business Standard

India's power consumption declines 4.7% to 144.2 billion units in Aug

India's power consumption declined 4.7 to 144.21 billion units (BU) in August compared to the year-ago period, mainly due to the above normal rainfall across the country which reduced the use of cooling appliances like air conditioners and desert coolers. According to the Indian Meteorological Department, the country recorded 287.1 mm of rainfall in August, which is about 16 per cent higher than the normal 248.1 mm. In August 2023, the power consumption stood at 151.32 BU, according to official data. The highest supply in a day (peak power demand met) also contracted to 216.68 GW in August 2024 against 236.29 GW in the year-ago month. The peak power demand touched an all-time high of about 250GW in May this year. The previous all-time high peak power demand of 243.27 GW was recorded in September 2023. Earlier this year, the power ministry projected a peak power demand of 235 GW during the day and 225 GW during evening hours for May and 240 GW during daytime and 235 GW in the eveni

The Economic Times

India's power consumption declines 4.7 pc to 144.2 billion units in Aug

India's power consumption dropped by 4.7 per cent to 144.21 billion units in August compared to the previous year, due to above-normal rainfall across the country. This reduced the use of cooling appliances like air conditioners. Peak power demand also contracted from 236.29 GW to 216.68 GW. Experts expect steady power consumption ahead with the onset of the festival season.

Business Standard

RoC fines V-Guard MD over appointment, retirement related rules violation

The Managing Director of V-Guard Industries, a manufacturer of electrical and home appliances, has been fined by the Registrar of Companies (RoC) over violation of rules and regulations related to retirement and appointment of directors on the board. The RoC Ernakulam has imposed a penalty of Rs 2.03 lakh on V-Guard Industries Managing Director M K Chittilappilly for violation of Section 152(6) of the Companies Act over an application filed by the company suo moto. "The Managing Director has received an Adjudication order from RoC, Kerala imposing penalty under Section 159 of the Act for default under Section 152(6) of the Act," the company said in a regulatory filing. Section 152 (6) of the Companies Act governs the appointment and retirement of directors in Indian companies. It mandates the retirement of all directors at Annual General Meetings (AGMs). One-third of rotational directors should retire each year, but the number may vary depending on the total directors' count. Howe

Business Standard

Samsung launches AI-powered washing machine, aims to lead premium segment

Consumer Electronics maker Samsung India on Tuesday launched a new range of AI-powered washing machines and aims to be the market leader in the premium segment in the coming quarters, said a company official on Tuesday. The company, which currently holds around 20 per cent of the washing machine market, has "an objective of becoming a consumer leader" by gaining market share quarter-on-quarter, outpacing the industry growth, said Samsung India Senior Director, Digital Appliances, Saurabh Baishakhia. Samsung expects new launches, the ongoing trend of premiumisation in the appliances segment and the coming festive season this year and tailwind from attractive financing schemes breaking down acquisition costs will help it gain in the segment and claim market leadership, he said. "We have 20 per cent market share and are looking further improving it. We aspire to become a brand that is bought by most consumers," Baishakhia told PTI. At present, South Korean maker LG Electronics is the

Business Standard

Major domestic appliances market sees 18% growth in first half of 2024

The market of major domestic appliances saw an 18 per cent value-based growth in the first half of 2024, helped by a strong demand for essential household items, according to a report from GfK. The growth in MDA (major domestic appliances) market was led by Key categories such as air-conditioners and refrigerators, which reported a growth of 30 per cent and 7 per cent, respectively. "This growth is 3X of growth in 2023 over the previous year," said the report from GfK, which is now an NIQ Company, a leading global market and consumer intelligence firm. The small domestic appliances market recorded a 29 per cent increase in value, reflecting heightened consumer interest in home convenience products, according to the report. The report also added that customers are now looking for feature-rich and premium products, which is fuelling the value growth in the appliance segment. Now washing machines with capacities of 9kg or above have recorded an "impressive growth rate of 30 per cent"

Business Standard

Home convenience products, premiumisation trend fuel consumer goods' growth

Low penetration of major appliances presents expansion opportunity for industry

The Economic Times

Major domestic appliances market sees 18 pc value-based growth in first half of 2024: Report

The small domestic appliances market recorded a 29 per cent increase in value, reflecting heightened consumer interest in home convenience products, according to the report.

Business Line

Godrej Appliances aims to be amongst top three players in 3 years

We are expecting a 40 per cent year-on-year growth in this festive season, backed by new product launches: Executive V-P Kamal Nandi

The Economic Times

Bosch weighs offer for appliance maker Whirlpool, say sources

​ German engineering group Robert Bosch is weighing a bid for U.S. appliances manufacturer Whirlpool, according to three people familiar with the matter, a move that would boost its position in the household appliances market.

The Economic Times

Amid heat wave, Delhi's peak power demand reaches all-time high of 8,647 MW

Delhi experienced its highest peak power demand ever at 8,647 MW due to a persistent heatwave. The increased use of air conditioning and cooling appliances contributed to the record rise in power demand.