Infotech & Electronics News :
News Source : Electronics
Prime Minister Narendra Modi to inaugurate AI summit 'RAISE 2020' on October 5
The statement added that keynote speeches and panel discussions will frame the summit, on cross-sector subjects like 'Leveraging AI for Pandemic Preparedness', 'The Impetus that Innovation Places on Digitisation', 'Inclusive AI', and 'Partnerships for Successful Innovation'.
Open cell TV panels to face five percent import duty from October 1, despite industry requests
Government officials said the price increase due to this duty will be insignificant, dismissing claims of substantive price rise being put forth by the industry.
Make in India: DTH company Dish TV to start manufacturing set-top-boxes in India
The company said that the first consignment of ‘made in India’ STBs is already ready and is being shipped, while by the first quarter of the next year, the company will shift almost 50% of production to India. Dish TV offers DTH service under three brands - Dish TV, D2H and Zing. It also runs a video streaming service, Watcho.
TV makers urge Govt to extend zero duty on import of open cells beyond Sept 2020
An industry body representing the likes of Panasonic, LG have written to the finance ministry warning about the flourishing of grey market if open cells (with bonding) and pure cells (without bonding) are taxed differently as both components have the same HS code and cannot be visually differentiated.
UK-based family office makes Rs 2,200 crore offer for Videocon Industries
The only details available on the website of UK’s company house, the corporate registry of that country, shows that V Shape Capital has two directors, both of Indian origin, Ajit Kumar and Suresh Chandra Pandya. The offer is amongst eleven bids that a State Bank of India-led consortium of banks are currently evaluating, according to banking sources.
Govt may tighten norms for TV imports to boost India-made television sets
The ministry of electronics and IT (MeitY) has sent such a proposal on embargo of quantum of import per brand to Directorate General of Foreign Trade (DGFT) which is the import license issuing authority. The government has also sought last four year import data from the brands, executives said.
Reliance, Tatas control 20% of smartphone, electronics retailing; together notch up Rs 50,000 cr sales in FY20
While Reliance Retail grew its consumer electronics retailing business sales by 14% to Rs 44,625 crore in FY20 as per an investor presentation, Tata-owned Infiniti Retail Ltd which owns and runs the Croma chain reported sales of Rs 5173 crore which went up by 11% as reported in Registrar of Companies filings.
Consumers increasingly move to SmartTVs as new manufacturers undercut regular pricing
Xiaomi is looking well poised to similarly grab marketshare in India’s Rs 79,000 crore television market. When Mi TVs (Xiaomi’s consumer brand in India) were launched in India in February 2018, smart TVs accounted for 12–15% of the total market. It is now 50%, according to industry estimates.
Big boom in electronics sales: The best August in the last five years
Leading companies said Independence Day sales on ecommerce marketplaces were “massive” and the return of consumer financing also helped. Companies estimate they grew sales by 25-40% in August from a year earlier while sequential sales growth over July is more than 20%.
L&T closes Rs 14,000 crore deal to sell electric division to Schneider Electric
L&T Group Chairman AM Naik said that the deal is a “win-win” for the company’s employees, business partners, and shareholders.
Boat Lifestyle eyes Rs 1,000 crore revenue in FY24
"We had a target of Rs 500 crore revenue in FY21-22, we have already crossed that, we had an outstanding year in FY20. We have grown 2.5X from the previous year...Since inception, our financial performance has been strong and have been EBITDA positive," Boat Lifestyle co-founder Aman Gupta said.
boAT Lifestyle records 20% jump, sells 15,000 units every day during lockdown
“Our brand is getting attention,” he said. “Consumers are not just working from home, but also working out from home or studying at home. Now there is also a concept of entertainment, and thanks to IPL, the stadium at home. This has acted as catalyst and boAt has witnessed a massive surge in demand for our products during Covid times," said Aman Gupta, co-founder.
Keep track of your metabolism and nutrition with Lumen: The Pocket Nutritionist that we always wanted
Thanks to technology, metabolic testing that was once available only in expensive laboratory or hospital settings, can now be done at home!
A month after restrictions, big brands await licences for premium television imports
Four industry executives said the big global television makers - Samsung, Sony, LG and TCL - had all applied for import licences, but none of them has received a permit yet.
5G is here! A step up in speed in this connected everything age
Apple begins assembling iPhone SE (2020) in India, to go on sale soon
Targeting Android mid-segment users as well as aspirational iPhone seekers, Apple brought the new iPhone SE to India, that looks like Apple iPhone 8 with the power of iPhone 11, to the India market for just Rs 42,500.
Over two dozen companies pledge $1.5 billion to set up mobile phone factories in India
The govt expects its incentive program for electronics alone could lead to $153 billion worth of manufactured goods over the next five years and create about one million jobs directly and indirectly.
Crompton Greaves eyes inorganic growth opportunities to enter more product segments
"We are looking, obviously, and have been looking at inorganic opportunities which can help enable this...We are actively engaged in those kinds of discussions," Crompton Greaves Consumer Electricals Managing Director Shantanu Khosla told analysts in an earnings call.
Import licence rules upsets TV makers' festive season plans, thousands of imported TVs stuck at ports
About 35% of television sets sold in the country are imported. Industry executives said this has upset the inventory planning of brands for the festive season, while retailers said stocks are running out. There’s a shortage of Samsung, LG and Sony sets of 55 inches and above with no visibility on availability.
Smooth Sale-ing for Chinese brands, clock double-digit sales growth during Amazon, Flipkart events
Industry executives said several products of prominent Chinese brands have stocks running out, including offline. Brick-and-mortar retailers and said it had been business as usual as far as Chinese brands were concerned. “There has been no impact on sales of the Chinese brands,” said a senior industry executive.
LG Electronics sets up company-owned e-store in India, hopes to boost appliance sales
The company-owned e-store will focus on the premium-end products with an assortment of 150 models right now, but will eventually sell 60-70% of its entire portfolio.
We produce ventilators at $33 each; lowest cost in the world: Dynamatic Technologies
Dynamatics, which builds aerospace systems for Boeing and Airbus, was able to pivot a part of its research teams during the lockdown nto developing what is now the world's lowest cost ventilator.
Electronics manufacturing in India to grow 30% annually for next 5 years: IT Secretary
the exports of electronic products will grow in the range of 40-50 per cent annually over the next five years, electronics and IT secretary Ajay Prakash Sawhney added.
India should emulate South Korea, Israel to become self-reliant in crucial technologies: C P Gurnani
“South Korea has defined the value chain in consumer durables, automobiles and microprocessors.. we can emulate that and emulate Israel on how to become atmanirbhar in defence,” Gurnani said at a fireside chat on India Edge in the Post Covid World at the ET Global Townhall.
Havells India Ltd launches anti-bacterial/anti-fungal switch range for a healthy home
The switch range, priced at Rs 75 onwards, will act as a catalyst to lead a ‘healthy life’ for customers by avoiding bacteria led diseases like food poisoning, pneumonia, conjunctivitis, etc., a press statement issued by the company said.
Incentivise electronic product design to make India self-reliant, says IESA's Satya Gupta
For this, the government could set aside 15-20% of the funds currently being allocated for incentivising largescale electronics manufacturing in the country, said Gupta, who took over as chairman of IESA in April this year.
Tech major HP starts manufacturing operations at Flex's Sriperumbudur facility
HP, however, did not disclose details about investment and capacity under the contract manufacturing arrangement with Flex.
Bigger & Better: Sales of large capacity appliances, big screen TVs soar up to 70% in July
Executives with top manufacturers such as LG, Samsung, Sony, Panasonic and Voltas Beko said they expect the trend to continue through the festive season.
Import curbs on television sets: Companies may take licence route for big-screen models
The government on Tuesday re-introduced import curbs on TV sets and put them on the restricted list for the first time in 20 years with the objective of boosting local manufacturing. Companies will now have to apply for a licence to import TV sets.
Import restrictions on colour television to give a boost to local manufacturing: Xiaomi
"Currently, over 85% of our Mi TVs sold in India are manufactured in India. We believe that this decision will encourage and give a boost to local manufacturing," a Xiaomi India spokesperson said.
Govt's move to restrict colour TVs imports will boost local manufacturing: Industry body
“The restrictions mandated through the Import licensing regime as per the new GOI notification will stop the unrestricted inflow of finished goods/CBU’s. Imports of CBU’s in 2019-20 crossed Rs 5,000 crores,” ICEA said.
Move to give boost to 'Make in India': Govt puts import restrictions on colour television
The curbs are applicable to TV sets included in the ‘other colour’ category that covers LCD TVs among the goods. There is no restriction on monochrome TVs. The total imports under the restricted category in fiscal 2020 were $781 million. Of these, Vietnam and China accounted for $428.37 million and $292.48 million, respectively.
Chinese companies demand full advance payment for Diwali LED lights
According to industry estimates, India annually imports festive lights valued at over Rs 1,000 crore and gift items at Rs 3,500 crore, with 70% to 80% of the sale during the Diwali period.
It’s an early festive start for consumer electronics manufacturers, companies to lift output more than last year's
Companies said the acceleration in scaling up is due to high demand in the past two months exceeding expectations, and to build up inventory, considering localised lockdowns are likely to continue in some areas
Electrical equipment industry is cancelling contracts in biggest anti-China drive
Companies are cancelling orders mainly for power distribution and transmission gears and turning to other countries despite higher costs. The process began in May after Prime Minister Narendra Modi’s vocal-for-local call. This month, the campaign intensified with restrictions on power gear imports but industry wants to make sure that this does not create disruptions.
Piyush Goyal asks industry to setup semi-conductor fabrication plant soon in India
“We are mapping the entire land bank available for manufacturing…We need to have a fab coming to India quickly now. That is a missing piece,” Piyush Goyal said. He asked the industry to identify such units which can be moved to India from other countries where they are not viable, and look at clusters where an ecosystem can be created where all clearances are online.
Delays in customs nod disrupt Chinese brands’ India plans
Electronics and appliance makers said production was hit last week for 3-4 days as imports were held up. Though consignments have started moving, the backlog has led to shortages and disrupted output. The curbs were imposed in the wake of heightened tension on the India-China border.
LG to scale up local smartphone production upto 15X by Diwali, apply for PLI scheme
In an exclusive interview with ET, Advait Vaidya, business head - mobile communications at LG Electronics, said the brand has seen 10 times increased sales of smartphones in the past two months due to the anti-China sentiment.
Industry for alternate sourcing destination as cost from China not going down: Signify Innovations
Signify Innovations, erstwhile Philips Lighting, has said the industry is looking for alternate destinations to source components as procurement cost from China is not going down since last three-four years.
Covid-19: Signify sees a ray of hope in ultraviolet light-based products
The UV-C disinfection system is designed and manufactured in India and will be available here first, followed by Latin American countries and Europe. The light source in the system has been tested in Boston University for its effectiveness in inactivating the virus that causes covid-19.
Acer India appoints Sudhir Goel as chief business officer
Sudhir Goel has been instrumental in establishing the firm’s manufacturing facility at Pondicherry. He later took on the portfolio of chief supply chain officer, handling complete supply chain - operations, procurement, material planning and manufacturing functions.
95% appliances now made in India; dependence on China for components not to go down soon: CEAMA
Consumer Electronics and Appliances Manufacturers Association (CEAMA) said even before the call to boycott Chinese products, various companies had already started to look for alternative sources due to disruptions of supplies following the coronavirus-induced lockdown in China.
Chinese sold electronics worth Rs 1.4 lakh crore in India in 2019
Chinese companies registered sales of nearly Rs 1.4 lakh crore in the Indian electronics market last year.
Thomson brand licensee Super Plastronics to invest Rs 1,000 crore in 5 years
As part of its strategy, the company said it would continue to focus on the affordability with aggressive pricing and harness the potentials of e-commerce channels. "We would be investing Rs 1,000 crore in the next five years to create facilities for production and product expansion," SPPL Chief Executive Officer Avneet Singh Marwah told .
'Boycott China' trending online but little impact on consumer products sales
One of the senior leaders at a smartphone company, who did not wish to be named, said there is pent up demand for phones because people are working and studying from home amid the COVID-19 pandemic, and many firms have had to resort to expensive imports to meet the spurt in demand.
Chinese brands, endorsers may go slow on promotions; some pull out ads, some plan to play up make-in-India credentials
Chinese brands and celebrities endorsing them run the risk of the anti-China sentiment if they go all out to promote brands in the prevailing environment, executives at celebrity management companies said. But abruptly terminating contracts that run into crores is not the solution, they said.
Chinese smartphone, electronic companies issues advisories for Chinese expat
A top three smartphone maker has asked all Chinese employees and their families, including Indians married to Chinese, to be extremely careful in going out at public places and inform their organisation immediately in case they face any crisis.
India will need more firepower to counter Dragon country's dominance on electronics
It will take years for India to build a viable hardware manufacturing ecosystem.
Panasonic partners Benow to take offline retail stores online
Companies like Samsung have also partnered with Benow to take its mobile phone and electronics retailers online, while Xiaomi and Vivo too have rolled out initiatives to extend their offline stores to online.
Atmanirbhar Bharat: Samsung and OnePlus to manufacture most TV sets in India
This comes within days of Centre’s ‘Atmanirbhar Bharat’ initiative where it wants all companies to set-up local production and supply-chain. The country’s largest television brand Samsung will now make in India almost 85-90% of the televisions they sell in the country.