PHONE MAKER
Apple gains after Morgan Stanley calls stock 'top pick' for AI efforts
Apple's shares rose 2% after Morgan Stanley raised its price target, touting Apple Intelligence as a key driver for increased device sales. With a market value of $3.6 trillion, Apple is poised for significant growth in iPhone shipments. Industry experts predict a recovery in the global smartphone market led by Apple and Samsung.
Apple’s India sales surge 33% to record as China shift persists
The India revenue jumped about 33% in the 12 months through March from $6 billion a year earlier, according to a person familiar with the matter. Apple’s pricey iPhones accounted for more than half of the sales, people in the know said. The increase signals steady progress in Apple’s effort to win users in the world’s most populous country, whose consumers are gradually gaining more purchasing power as the economy expands.
Oppo expects to maintain double-digit growth in Reno series sales
While speaking on the sidelines of Reno 12 series smartphones, Oppo head of product strategy Peter Dohyung Lee said the company is working to make AI features available in entry-level smartphones.
Mobile phone maker realme partners Sony for upcoming 5G device with AI-imaging feature
Realme announced a partnership with Sony to launch the Realme 13 Pro Series 5G, featuring the world’s first Sony LYT-701 camera sensor and AI-imaging technology. Unveiled in Bangkok, this collaboration aims to revolutionize mobile photography with advanced AI and innovative camera hardware. The official launch dates for India and other markets will be revealed later.
Foxconn’s Bharat FIH is facing turbulence due to top-level exits
Foxconn group company Bharat FIH is in a rough spot, with three of its independent directors having exited its board in the past three months. Interglobe Aviation chairman Venkataramani Sumantran, Sify Technologies cofounder Ramaraj R and former IT and telecom secretary Aruna Sundararajan have resigned. Sources cited the company’s lack of direction as the main reason for the resignations.
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.
- Go To Page 1
Tariff hikes may slow migration of feature phone users to smartphones: Experts
Recent steep tariff hikes by major Indian telecom companies are set to bolster the base of 4G feature phone users, shielding them from significant cost increases compared to smartphone users. This move is expected to slow down the migration to 5G smartphones. Industry experts suggest that while data consumption among 5G users remains strong, the tariff adjustments may lead smartphone brands to offer bundled data deals to spur sales. Overall, the impact on consumer behavior post-hike is anticipated to be moderated by entrenched data usage patterns.
Apple's iPhone shipments in China surge 40% in May amid aggressive discounting
Shipments of foreign-branded phones in China increased by 1.425 million in May to 5.028 million units from 3.603 million a year earlier，calculations based on the data from the China Academy of Information and Communications Technology (CAICT) showed.
25% of new hires are married women; nearly 70% workforce are women: Apple iPhone maker Foxconn
Foxconn clarified to government that 25 per cent of new hires are married women and safety protocol banning metal is not discriminatory. Ministry of Labour sought report on married women issue at Foxconn India Apple iPhone Plant. Foxconn emphasised that safety protocol applied to all, not just Hindu women. They brushed away media reports saying it was a misinterpretation.
Apple supplier Foxconn rejects married women from India iPhone jobs
A former human-resources executive at Foxconn India said the company's executives verbally convey the recruitment rules to its Indian hiring agencies, which Foxconn tasks with scouting for candidates, bringing them in for interviews and employing them.
PhonePe in talks with top smartphone brands to pre-install Indus Appstore
PhonePe launched its own Android-based app store, challenging Google's billing policy and commissions. It onboarded popular apps and gaming majors, offering zero listing and platform fees.
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.
Apple to ‘pay’ OpenAI for ChatGPT through distribution, not cash
Left unanswered on Monday: which company is paying the other as part of a tight collaboration that has potentially lasting monetary benefits for both. But, according to people briefed on the matter, the partnership isn’t expected to generate meaningful revenue for either party — at least at the outset.
Apple poised to launch its late start in the AI race with ambitions to overtake the early leaders
The widely anticipated display of AI to be embedded in the iPhone and other Apple products will be the marquee moment at an event that traditionally previews the next version of software that powers the company's hardware lineup.
Apple to break AI silence at developers conference
Apple on Monday will attempt to persuade doubters on its AI strategy after rivals raced ahead in adopting artificial intelligence. ChatGPT-style AI voraciously feeds off data and Apple will be at pains to fight the AI race while living up to its traditional position on safeguarding data privacy.
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.
Oppo sets up AI centre in China, rolled out over 100 Gen AI features on phones this year
Chinese smartphone brand Oppo said it has rolled out over 100 generative AI capabilities to its phones this year, and has set up an AI R&D center in China to develop proprietary technologies, having filed over 5,399 patents on the emerging technology worldwide.
While Apple backtracks, a Chinese phone maker has raced ahead
Geely Auto and BYD Co., known for knock-offs, are now innovative. Xiaomi Corp., from cheap smartphones, aims to rival Tesla. Apple cancels EV project; Lei Jun leads Xiaomi's $10 billion EV venture.
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.
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.
ETtech Explainer: Behind Apple’s search for Indian iCamera maker
Manufacturing and assembling camera modules is a complicated process involving multiple specialised components. Apple's move to possibly look at onboarding two Indian corporates to court Apple could be a catalyst for the country’s high-end manufacturing ambitions.
Apple loses global leadership in phones to Samsung as iPhone shipments drop: report
According to IDC, global smartphone shipments increased 7.8% to 289.4 million units during January-March, with Samsung, at 20.8% market share, clinching the top phonemaker spot from Apple.
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.
Dixon eyes India unit of China handset maker Transsion Holdings
The talks come amid greater scrutiny of Chinese firms operating in the handset ecosystem. The Centre wants Indian companies and executives to have more sway over the country’s mobile phone industry, currently dominated by Chinese handset brands, as part of an informal mandate, according to people with knowledge of the matter.
Trai wants network operators to implement calling name display service
In its recommendations issued Friday on calling name presentation (CNAP) service, the Telecommunications Regulatory Authority of India (Trai) said, “the government should issue appropriate instructions for making CNAP feature in all devices sold in India, after a suitable cut off date, say after six months from the date of notification.”
CCI greenlights Tata Electronics' acquisition of iPhone supplier Wistron Infocomm
This proposed deal involves the acquisition of 100 per cent equity share capital of Wistron Infocomm Manufacturing (India) Private Limited by Tata Electronics Private Limited. The equity shares will be acquired from SMS Infocomm (Singapore) Private Limited and Wistron Hong Kong Limited.
Indian electronics maker Dixon expects near-50% FY rev growth in 2024: Executive
Electronics maker Dixon Technologies (India) expects a near-50% increase in revenue for the current fiscal year, driven by its mobile phone business. Dixon's Managing Director Atul Lall stated that the largest growth trigger is their mobile phone business. The company's revenue for the full year ending March is projected to be 180 billion rupees ($2.16 billion), with 40%-50% of that coming from its mobile phone manufacturing and assembly business.
Load More
