Electronics
Budget 2024: Electronics industry’s wish list
The electronics industry has recommended reducing the number of tariff lines and streamlining the duty structure for sub-assemblies and input parts, along with removing nuisance tariffs of 2.5% on some parts.
AI smartphone sales likely to be dull in India in 2024
AI-capable smartphones are projected to constitute only 4-5 per cent of the 152-156 million total smartphone shipments in India this year. Global estimates suggest they will make up 17 per cent of 1.2 billion handsets by 2024. Market experts view smartphones as an ideal platform for AI accessibility due to advancing hardware and software capabilities. However, high prices, starting at $600, may impede widespread adoption in India compared to other markets like China, South Korea, and Japan.
Samsung Galaxy s24 Ultra: New color titanium yellow launched in India
With the release of the Samsung Galaxy S24 Ultra earlier this year, Samsung unveiled its newest Galaxy S24 series. The Galaxy S24 Ultra is now available in India in a new Titanium Yellow color option, thanks to the Korean smartphone manufacturer. Titanium Gray, Titanium Violet, and Titanium Black were the previous color options for the smartphone.
Samsung India research unit adds Hindi to Galaxy AI, ramps up tech for rest
Samsung's cutting-edge Hindi AI model for Galaxy AI integrates colloquialisms, conversational speech data, and English word mix handling. The development showcases meticulous attention to detail, ensuring a seamless user experience. This advancement underscores Samsung's commitment to linguistic innovation and diverse language support, setting a new standard in AI technology.
Amrit Jiwan elected as new MAIT president
The Manufacturer's Association of Information Technology (MAIT) appointed Amrit Jiwan as president and aims to encourage domestic IT hardware manufacturing. They align with the New National Policy on Electronics and prioritize tax structuring stability for business growth under Jiwan's leadership.
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.
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.
India likely to overtake Japan to become 3rd largest global market for Sony in 2 years
Sony anticipates India will soon surpass Japan to become its third-largest global market, targeting revenue of Rs 10,000 crore. In 2022-23, Sony India earned Rs 6,353 crore. Managing Director Sunil Nayyar credits growth in premium TVs, audio, imaging, and gaming segments. He predicts India will reach Rs 100 billion in revenue within a few years.
Top brands bank on 'imported' sales events to boost demand
Back to school sales in India have seen rapid growth over the last five to six years, with the event generating over a fourth of retail laptop sales. This trend is second only to the Diwali festive season's contribution of 30-35%, according to industry estimates. Other 'imported' sales events include small business days, Black Friday, Cyber Monday, Mother's Day, Father's Day, and Valentine's Day.
Indians battle intense heat with 'mad rush' for air conditioners, beer
Demand for beer in India is at a multi-year high, and air conditioner sales are skyrocketing due to the intense, unprecedented heat affecting parts of the country. Temperatures in the Indian capital Delhi and the western state of Rajasthan have soared to almost 50 degrees Celsius in recent weeks. Scientists attribute the increasingly severe hot summer to human-driven climate change.
More Taiwanese ICT suppliers may relocate to India in near future, says official
Anticipating the Taiwan Expo 2024, Chend envisions a robust platform for showcasing products and fostering business opportunities to enhance Taiwan-India trade relations, reflecting the significant growth in economic cooperation between the two nations.
Must Watch
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.
TVS Electronics adds electronics manufacturing services at Karnataka plant
TVS Electronics added an Electronics Manufacturing Services capability at its Tumakuru facility in Karnataka, offering PCB assembly, product testing, box building, and supply chain solutions. The Chief Business Officer, Sathya Doraisamy, highlighted the commitment to enhancing manufacturing capabilities and strengthening the Make-in-India initiative. Shares settled 2.11% lower at Rs 330 apiece on the Bombay Stock Exchange.
Govt starts taking call on Chinese investments, Indian cos Press (Note) 3
Dixon Technologies is preparing to file for Press Note 3 clearance for its proposed joint venture with HKC Corp for manufacturing liquid crystal modules, thin film transistor liquid crystal display modules and assembly of smartphones and televisions. Dixon will own majority shares. Following border tensions, the Indian government began looking askance at investments by Chinese companies in India.
Polls and weather take a toll on smartphone sales in June quarter
The smartphone market in the June quarter is likely to be tepid due to the impact of elections, heatwaves, and floods, leading some market experts to lower their growth outlook for 2024 smartphone shipments. Analysts expect a slowdown in Q2 shipments compared to Q1 due to fewer launches and adverse weather conditions. Counterpoint Research forecasts a 3-5% decline in Q2 shipments, with a revised annual forecast of 152 million units, reflecting a 3% year-on-year growth, down from the initial 5% growth prediction.
