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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

Hindustan Times

Auto and consumer electronics sales rise due to festive season discounts and offers: Report

Electronics, smartphones and automobiles usually see up to 30% of their annual sales coming from Onam, Navratri, Dussehra and Diwali

The Economic Times

Discounts, offers drive car, electronics sales in Onam, Ganesh Chaturthi

Hefty discounts and promotional offers have spurred an increase in car and consumer electronic sales during the Ganesh Chaturthi and Onam festivals. Maruti Suzuki reported a 10% rise in bookings in Kerala, while two-wheeler sales grew by over 15%. However, premium products continue to drive most of the demand across various consumer goods.

CNBC TV18

Samvardhana Motherson shares may fall 45% on slowing demand, rising inventory

Samvardhana Motherson shares are up 85% year-to-date (compared to Nifty's 15%), partly due to optimism surrounding the company's entry into the consumer electronics business.

Business Standard

Tata electronics, TCS to develop India's first domestic chips by 2026

Tata Electronics plans to launch its first chips from the Assam facility by late 2025 or early 2026, targeting sectors like automotive, electronics, power, consumer goods, and healthcare

Business Standard

Corning bullish on biz growth in India, to employ 1,600 people at new units

High-tech glass company Corning is bullish on growth from mobile consumer electronics and life sciences businesses in India, a senior company official said on Thursday. The automotive and optical fibre business is the biggest revenue contributor to the company in the country, at present. Corning which started business by providing glass cover for bulb invented by Thomas Alva Edison has expanded into several verticals to provide glass technology ranging from electronics display protection cover for mobile, television displays, semiconductor manufacturing, space telescopes to glass based packaging for labs, vaccines etc. "We waited for ecosystem to be established in India where we are seeing now global players are already establishing footprints to manufacture smartphones, and we just want to be a part of the supply chain. India is now becoming a rising star. We want to just be part of the story," Corning International, division vice president and general manager Gokhan Doran told ...

The Economic Times

Corning bullish on mobile, life science biz growth; commits Rs 1,500 crore investment

Corning is optimistic about growth in India's mobile consumer electronics and life sciences sectors. The company plans to invest over Rs 1,000 crore in a joint venture with Optiemus Infracom in Tamil Nadu and Rs 500 crore in a borosilicate glass unit in Hyderabad, creating numerous jobs.

Mint

Layoffs 2024: Samsung Electronics to trim 9-10% workforce in India, as consumer demand weakens, says report

Layoffs 2024: Samsung Electronics is reportedly planning to lay off over 200 executives in India due to slowing business growth and weakening consumer demand, as per an Economic Times report.

Hindustan Times

Samsung India to lay off over hundreds as business slows down: Report

Samsung Electronics plans to lay off over 200 executives in India, affecting various functions due to declining business growth and poor consumer demand.

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.

The Economic Times

Philips CEO explains how the firm is expanding India ops with a focus on AI in healthcare

Currently, India supports over 50% of Philips’ global software delivery. Philips, traditionally known for its consumer electronics, has sharpened its focus on healthcare over the past decade. Of its global revenue of €18 billion ($19 billion), over €15 billion comes from healthcare, with the remainder from consumer products.

Business Standard

Like-minded nations partnering with India to make it chip hub: Krishnan

Due to the prevailing geopolitical situation, like-minded countries are collaborating with India to make it a major semiconductor manufacturing destination, a top Electronics and IT ministry official said on Sunday. In an interview with PTI, Ministry of Electronics and IT Secretary S Krishnan said pilot facilities of US storage semiconductor maker Micron and Tata Electronics have already rolled out chips, and their main plants in Gujarat will begin to produce made-in-India chips from the later part of 2025. "Globally, and thanks to geopolitical circumstances, there is an increasing realisation that semiconductors are a very important and strategic commodity, and therefore, we need substantial resilience in the production of semiconductors," Krishnan said. The importance of resilience in semiconductors was underlined during the pandemic when many industries -- including the auto industries, medical devices industries and other electronics, and consumer electronics industries -- ...

Business Standard

Cabinet approves fifth semiconductor unit in India: Ministry of IT

The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the proposal of Kaynes Semicon Pvt Ltd to setup a semiconductor unit in Sanand, Gujarat, with the objective to develop a vibrant semiconductor ecosystem. The proposed unit will be setup with an investment of Rs 3,300 crore. The capacity of this unit will be 60 Lakh chips per day. The chips produced in this unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom, mobile phones, etc.

The Economic Times

Union Cabinet approves OSAT proposal of Kaynes Semicon to set up in Sanand

The proposed unit in Sanand, Gujarat, will be set up with an investment of Rs 3,307 crore. The chips produced in this unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom, mobile phones, etc.

The Economic Times

Electronics 5th largest export commodity; growing 23 pc annually: Official

India's electronics exports are growing rapidly, now the country's fifth largest export commodity, expanding at a 23 per cent annual rate. Electronics manufacturing in the country has crossed USD 100 billion, with mobile phones, consumer electronics, and automotive sectors contributing significantly. The government aims to boost local semiconductor production through a new incentive scheme.

Business Standard

Govt plans 'repairability index' for mobile, electronics to tackle e-waste

India is planning a repairability index for mobile phones and electronic products to address the growing e-waste problem and encourage manufacturers to produce more easily repairable items, officials said on Thursday. The Consumer Affairs Ministry is spearheading the initiative, which will provide a score on key parameters to inform consumers about the ease with which a product can be repaired, the officials said at a national workshop on the issue. Addressing the workshop, Consumer Affairs Secretary Nidhi Khare said: "As India emerges as the third largest economy in the world, we should have a vibrant and tech-savvy repair system." She also added, "India can become a repair hub for the world." The proposed index will be similar to initiatives in other countries, such as France's repairability index. It will rate products on criteria including availability of technical documents, ease of disassembly, spare parts availability and pricing. The workshop was aimed at establishing a ..

Business Standard

Regulators' panel brainstorm on taking action on spammers making robo calls

A joint panel of sectoral regulators brainstormed on taking urgent action on spammers making promotional voice, robo and pre-recorded calls in a meeting convened by the telecom regulator Trai on Tuesday. The joint committee of regulators (JCOR) was attended by the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi), Insurance Regulatory and Development Authority of India (Irdai), Pension Fund Regulatory and Development Authority (PFRDA), Ministry of Consumer Affairs (MoCA) and Ministry of Electronics and IT (MeitY), an official statement said. The Department of Telecom (DoT) and Home Ministry representatives also attended the meeting as special guests. The regulators deliberated on business entities making commercial voice calls using cloud-based telephony and fixed-line connection-based private exchanges, with hundreds of indicators in violation of Trai's regulations. "These entities should be migrated to the designated 140 series for making promotional call

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

LG Electronics weighs IPO in India to help chase its $75 billion goal

Chief Executive Officer William Cho said an Indian market debut is one of several options it's weighing to revitalise a decades-old consumer electronics business

CNBC TV18

LG Electronics weighs India IPO to help chase $75 billion goal

Chief Executive Officer William Cho said an Indian market debut is one of several options it’s weighing to revitalize a decades-old consumer electronics business. It’s the first time the South Korean company, which competes head-on with larger rival Samsung Electronics Co., has spoken publicly about an Indian debut, the subject of persistent market and media speculation.

The Economic Times

Fintech firm Pop hits monthly run rate of 1 million UPI transactions in two months

​​Pop has reached more than 1.5 million transactions since its launch. The app's UPI rewards, via Popcoins, are merchant-funded and can be redeemed to buy products from direct-to-consumer (D2C) brands in categories such as beauty, personal care, electronics, fashion, and home goods - all housed within the Pop app.

The Economic Times

Premium consumer electronics sales growing faster online than in stores

Online sales of high-value electronics such as air-conditioners, washing machines, and laptops grew significantly faster than offline sales in the first half of 2024. GfK-NielsenIQ data revealed a 17% increase in online consumer electronics sales compared to 12% offline. Consumers now prefer the convenience and better deals offered by online shopping platforms.

The Economic Times

Consumer shift to premium products drives India's electronics market growth

The consumer electronics market in India saw a significant shift towards premium products in the first half of 2024. While value sales increased by 11% in offline retail, unit sales remained almost flat, highlighting a trend where consumers prioritize feature-rich, high-end products. Online sales also grew, outpacing offline growth.

Business Line

Acer forays into Indian smartphone market via Indkal Technologies

Under the agreement, the consumer electronics company Indkal will oversee the design, manufacturing, and distribution of smartphones under the brand name of Acer

Business Line

Circuit House Technologies raises $4.3 m in funding round led by Stellaris Venture Partners and 3one4 Capital

The funding will be utilised to assemble an exceptional team across multiple functions, advance its R&D efforts on hardware and software and launch India’s next-generation consumer electronics brand in the coming months

Business Standard

India to overtake Japan to become 3rd largest global market: Sony MD

Japanese consumer electronics giant Sony expects India to overtake home market and become the company's third largest market globally in the next couple of years with its revenue from the country reaching Rs 10,000 crore. Sony India Managing Director Sunil Nayyar said the company clocked a revenue of Rs 6,353 crore in 2022-23 in the country and is betting on the premium television segment besides its audio and imaging products to drive the growth. According to him, Sony India is also betting big on the fast growth of the gaming segment and imaging business. "We have travelled a long way. If I go 10 years back, we were quite behind the globe, but now, we are a close number four as a single country business across the globe, which means in a couple of years, maybe we can be number three and to remain in the top three in future I think should be a good position to stay as a Sony company around the globe," Nayyar told PTI in an interview. At present, the US, China and Japan are the top

The Economic Times

Spoilt for choice: How changing consumer preferences & tech advancements driving upgrades in electronics and car

Hyundai Motor India introduced the third upgrade to its flagship SUV, Creta, in January, followed by the performance-focused Creta N Line variant in March. Samsung launched the Galaxy S24 Ultra smartphone in yellow color. Kia India's senior VP highlighted the reduced product life cycles in the automotive industry.