MOBILE PHONE COMPANY
Revenue growth to be quite significant for next 2 financial years: Saurabh Gupta, Dixon Technologies
I do not want to give you guidance on any number, but clearly the order book looks extremely healthy, not only across mobile vertical which is the largest trigger for our growth, I think so even IT hardware opportunities looking very promising.
India catching up with China, Vietnam on phone exports
India is rapidly narrowing the gap with China and Vietnam in mobile phone exports. In FY24, while mobile phone exports from China and Vietnam declined by 2.78% and 17.6% respectively, Indian exports surged by 40.5%, according to officials citing global trade data. India has captured nearly 50% of the reduction in mobile phone exports from these two countries, aligning with its objective of absorbing a significant portion of the supply chain shift from China.
Fintechs' secure credit play; New Jersey turns IT hub
Happy Monday! Fintech companies like Cred, PhonePe and Paytm are seeking partnerships with NBFCs to enter the secured credit market. This and more in today’s ETtech Morning Dispatch.
Mobile phone exports: India captures 50% share of fall in shipment from China, Vietnam
India's proactive strategies in capturing supply chain shifts, coupled with diversification efforts through the China+1 strategy, have propelled the country into a leading position in mobile phone exports. The remarkable growth in exports, particularly in the iPhone segment, signifies a significant milestone for India in the global market.
Vivo set to open ₹3,000-cr India facility in July
Chinese smartphone maker Vivo is set to inaugurate one of India's largest mobile phone manufacturing facilities next month, with an annual capacity of 120 million devices. The facility is being set up with an investment of over ₹3,000 crore.
Want a new phone number? It might come at a cost as Trai mulls fee
TRAI is considering implementing charges on smartphone and landline numbers, following a proposal to regulate numbering resources. TRAI views phone numbers as valuable public resources and suggests charging mobile operators, who may then pass on these costs to users. Potential charging methods include one-time or recurring fees per number or conducting auctions for vanity numbers. TRAI also contemplates penalties for operators holding unused numbers.
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Trai move to charge for numbers will increase cost for users, telcos say
Industry executives believe that charging telecom companies for numbering resources allocated by the Telecom Regulatory Authority of India will lead to increased costs for users. They argue that SIM cards are a necessity and any additional fees will be passed on to subscribers.
DRI clarifies 10% import duty on component imports, huge relief to industry
The Department of Revenue Intelligence (DRI) has clarified that components attached to the display assembly of mobile phones will attract a combined import duty of 10%, resolving a long-standing ambiguity. This decision affects parts like SIM sockets, side keys, and antennas when included in display assembly kits. This clarification, supported by the Ministry of Electronics and IT and the Prime Minister’s Office, aims to reduce litigation and confusion among manufacturers, customs officers, and the industry since the 2020 imposition of a 10% duty. The move is expected to aid the growth of the mobile phone manufacturing sector in India.
IRDAI cracks down on fraudulent tele-callers; Check list of TRAI-assigned phone numbers insurers must use for customer calls
The IRDAI has instructed insurance companies and insurance intermediaries not to call customers from a standard 10-digit mobile number in an effort to take harsh measures against fraudulent telecallers.
In-store mobile phone sales dry up on rising temperatures
The India Meteorological Department (IMD) has forecast severe heatwave conditions across ten states in North India since the middle of May with temperatures touching 50 degrees in some areas, with some respite expected from May 31.
Best OnePlus Mobile Phones in India (June 2024)
From the latest flagship models to budget-friendly options that don't compromise on quality, we curate a list tailored to various preferences and budgets. You can expect insightful comparisons, expert analysis, and practical insights to aid in their decision-making process. Find the perfect OnePlus smartphone in the bustling market of India. With a plethora of options boasting cutting-edge technology and sleek designs, it's essential to sift through the noise and pinpoint the best choices.
Not engaged in any discussions: Paytm issues clarification on report claiming Adani in talks to acquire stake in company
One97 Communications responds to speculation of Adani Group chairman Gautam Adani considering acquiring a stake in Paytm's parent company. The company clarifies that no discussions are ongoing, emphasizing compliance with SEBI regulations.
GST to be paid by telcos along with instalments towards spectrum charges
The spectrum will be assigned for 20 years and successful bidders will be allowed to make payments in 20 equal annual instalments in the coming mega auction.
Electronics companies seek Rs 35,000-crore incentive plan for components
"The incentive scheme is needed to support growing demand for electronics components to the tune of $75-$80 billion by 2026, and $300 billion by 2032 to support $300 billion worth of electronics products manufacturing by 2026 and $1.2 trillion by 2032," the India Cellular & Electronics Association (ICEA), which represents top smartphone brands and manufacturing companies, said.
Unpredictability in enforcement agencies action needs a check: ICEA chairman
While speaking about the achievement of the mobile industry in the last 10 years, India Cellular and Electronics Association (ICEA) Chairman Pankaj Mohindroo said that the next phase of growth in the country will come from exports and there is a need to build domestic champions in the sector as part of government's 'Atmanirbhar Bharat' (self-reliant India) plan.
Expecting good response from many companies on EV policy: DPIIT Secy
India expects positive responses from automobile companies on its electric-vehicle policy to attract global players like Tesla through tariff tweaks. The government aims to encourage manufacturers to establish bases in India without incurring costs. Duty concessions and investment commitments are key incentives for setting up manufacturing units. Companies can import CBUs at reduced customs duty.
Dixon ropes in Realme, plans to manufacture display modules for mobile phones: MD
Dixon Technologies, an Indian contract manufacturer, has secured Realme, a Chinese smartphone brand, as a new client. They intend to commence production of display modules for mobile phones, tablets, and notebooks, with a targeted capital expenditure of $30 million, excluding costs related to land and buildings.
Dixon Technologies Q4 Results: Net profit rises 20% YoY to Rs 97 crore
The electronics manufacturer has over two dozen production facilities across the country. Dixon makes smartphones and feature phones for brands such as Xiaomi, Motorola, Samsung and Jio, and is in talks with other global brands for more manufacturing orders.
Your phone bill could rise by up to 25% post election
The report said while the quantum of hike may appear large, it should be manageable for both urban and rural users, especially as data usage is sticky. For urban households, subscribers' spending on telecom would go up to 3.6% of total expenditure from 3.2%, it said, while for rural subscribers spending would increase to 5.9% from 5.2%.
Govt asks Jio, Airtel, Idea to block 28,000 phones, verify 20 lakh numbers
The Department of Telecom (DoT) has directed major telecom operators to block 28,200 mobile handsets allegedly linked to cyber crimes. This action is part of a collaborative effort with the Ministry of Home Affairs (MHA) and State Police to combat the misuse of telecom resources. The DoT has also instructed telecom companies to immediately reverify 20 lakh mobile connections. Measures such as the Chakshu portal and blocking of suspicious mobile numbers and IMEIs have been taken to combat telecom fraud.
Pakistan telecom operators block 3,500 SIMs of non-filers after-tax body order
The FBR also sent messages to about 5,000 individuals, warning them that their mobile phone SIMs would be blocked if they did not file their returns. It has further sought details of the blocked SIMs from the telecom operators.
Chinese smartphone companies looking to expand their footprint face a loud adversary—Indian retailers
Chinese smartphone brands face retailer backlash in India over low margins, delayed payments, and stock issues. Retailers demand higher margins and timely settlements, impacting brands' offline expansion plans in a shifting smartphone market.
Micron to roll out first India-made chips from Sanand unit in 2025
Micron India's Sanand unit focuses on exporting chips. Anand Ramamoorthy highlights global demand, partnerships, and multiple sector usage. Emphasis on agility and talent scarcity in niche sectors like cybersecurity.
India could allow a tiny window in the Chinese wall
In the wake of border tensions, the Indian government has been looking askance at investments by Chinese companies in India. Press Note 3 norms issued in 2020 stipulated that a company based in a country that shares a land border with India (such as China) can invest only after government clearance.
Mobile makers bet on higher exports to grow
Smartphone makers are hoping for exports from India to continue their strong showing, which will drive their own growth as production levels are reaching their saturation point if only the domestic market is to be served, said market trackers. "The only headroom for growth right now is by increasing exports from India," said Prachir Singh, senior analyst, Counterpoint Research.
Apple bonanza: iPhones drive India's mobile phone exports to record $15 billion
Apple contributed 65%, or about $10 billion, double the $5 billion of phone exports from India in FY23, when the US major became the first smartphone brand to achieve this feat.
10 Best Mobile Chargers Under 1000: Affordable Charging Solutions
Explore our curated list of the top 10 mobile chargers under 1000 rupees. From fast-charging technology to compact designs, find the perfect solution to keep your devices powered on the move without breaking the bank. Discover affordable options that offer reliability, convenience, and efficiency, ensuring you stay connected wherever you go without compromising on quality.
Dixon to buy majority stake in Transsion manufacturing unit
Dixon Technologies, India's top contract manufacturer, plans to acquire a majority stake in Ismartu India, a manufacturing unit of Chinese phone maker Transsion Holdings. Dixon will initially purchase 50.10% stake for Rs 238.36 crore in cash, with plans to eventually hold around 55% stake. The deal aims to boost India's role in the mobile phone ecosystem dominated by Chinese brands.
Taiwan earthquake likely to have minimal impact on global electronics supply chain, Indian market remains stable
The 7.4 magnitude earthquake in Taiwan, which caused widespread disruption in chip fabrication plants, is likely to have minimal impact on the global value chain in electronics manufacturing, including India. Industry executives and market trackers do not expect any adverse impact on prices or supply chains of mobile phones and other electronics items in India, which heavily relies on the Southeast Asian island nation for components.
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