Page 2 - Electronics Manufacturing

India smartphone mkt falls 10% in Q3; Xiaomi, Vivo shipments dip: Study

Lowest third-quarter shipment since 2019 as weak demand and device price hurt festive buying

Insurer needn't pay for VAT on unsold goods

The National Commission said VAT is payable only on sale. If goods are damaged before sale, VAT is not payable, so to claim it is incorrect

Eveready charged up, aims to double revenue in 4 years with existing biz

Company's focus shifts to topline growth under Burmans; may look at new categories later

India may allow Chinese JVs with Indian cos for electronics manufacturing

Officials added that any proposal for a JV could be considered if that leads to the growth of the electronics manufacturing ecosystem in India

Tata Group plans to add up to 45,000 workers at iPhone parts plant

The plant in the industrial town of Hosur, in Tamil Nadu state, will hire as many as 45,000 women workers within 18 to 24 months as it sets up new production lines

BEL's sales trajectory will sustain on multiple growth opportunities

Investors may consider buying the stock on dips, say experts

Strong retail interest sees DCX Systems IPO subscribed 2.19 times on day-1

Price band set at Rs 197-207 a share; retail portion sold 8.7x

Govt announces electronics manufacturing cluster in Maha worth Rs 500 cr

Union Minister Rajeev Chandrasekhar on Monday announced that an Electronics Manufacturing Cluster will be developed in Ranjangaon, Maharashtra, at a cost of Rs 500 crore. The Electronics Manufacturing Cluster (EMC) is targeted to attract an investment of over Rs 2,000 crore, with a potential to generate thousands of jobs in the coming years. "To make Maharashtra into an electronics hub, we have approved an Electronics Manufacturing Cluster project in Ranjangaon, Pune. The total investment of the government will be about Rs 500 crore," Minister of State for Electronics and Information Technology Chandrasekhar said at a briefing. With this, Ranjangaon (Maharashtra) joins the growing roster of locations such as Tamil Nadu, Noida and Karnataka that are making an aggressive pitch to emerge as a vibrant electronics hub. The overall cost for development of the EMC is Rs 492.85 crore, out of which Rs 207.98 crore will be funded by the government of India and balance contribution of Rs 284.

Samsung India's profit falls 5% to Rs 3,844 crore; revenue rises 9%

Samsung India Electronics' profit after tax for FY22 fell 4.86 per cent to Rs 3,844.40 crore, while its revenue from operations went up 8.65 per cent to Rs 82,451.60 crore, said data accessed by business intelligence platform Tofler. The electronic major had reported a PAT (profit after tax) of Rs 4,040.80 crore and its revenue from operations was at Rs 75,886.30 crore for the financial year that ended on March 31, 2021. Samsung India's EBITDA (Earnings before interest, taxes, depreciation, and amortisation) was almost flat at Rs 7,081.80 crore in the latest FY22 as against Rs 7,093.40 crore. Its other income was up 77.89 per cent to Rs 2,873.20 crore for the financial year that ended on March 31, 2022. Samsung India's total revenue was up 10.09 per cent to Rs 85,324.80 crore in FY22 as against Rs 77,501.40 crore a year ago. This is the highest one in the last five years, according to the Tofler data. Samsung India's total revenue in FY18 was at Rs 61,065.60 crore and Rs 73,085.

Havells Q2 net profit dips 38% to Rs 187 cr, revenue rises 13.6%

Havells India Ltd on Wednesday reported a 38.15 per cent decline in its consolidated net profit to Rs 187.01 crore for the second quarter ended on September 30, 2022, as commodity inflation hit its margins. The consumer electrical goods maker company had posted a consolidated net profit of Rs 302.39 crore in the July-September quarter a year ago, Havells said in a regulatory filing. Havells' revenue from operations rose by 13.63 per cent to Rs 3,679.49 crore during the period under review as against Rs 3,238.04 crore in the corresponding period last fiscal. Its total expenses were at Rs 3,471.57 crore, up 21.10 per cent during the second quarter of FY 2022-23 as against Rs 2,866.54 crore. Havells India Chairman and Managing Director Anil Rai Gupta said: "Decent revenue growth considering the inflationary environment. Margins adversely impacted due to commodity cost fluctuation." "We believe that margins have hit the trough and are expected to improve hereon. The demand outlook rem

Apple halts its plan to use chips from China's YMTC, say reports

Amid political pressure, tech Giant Apple has suspended plans to use memory chips made by China's Yangtze Memory Technologies Co. (YMTC) in its products, media reports said

Govt may clear semiconductor unit proposals in next 30-60 days: MoS IT

The government is likely to start approving proposals to set up electronic chip and display manufacturing plants in the country in next 30-60 days, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Wednesday. Speaking at IESA Vision Summit, Chandrasekhar said there has been a tremendous progress in the development of the semiconductor ecosystem in the country in the last 8-9 months. The government has received proposals from five companies for setting up electronic chip and display manufacturing plants with investment of Rs 1.53 lakh crore. Vedanta Foxconn JV, IGSS Ventures, ISMC propose to set up electronic chip manufacturing plants with USD 13.6 billion investment and have sought support of USD 5.6 billion from the Centre under the Rs 76,000 crore Semicon India Programme. "Over the next couple of months, I think over next 30 to 60 days... Government of India and India Semiconductor Mission will be rolling out those proposals that have been scrutinized and that

Samsung's Q3 profit estimated to have declined nearly 32% amid weak demand

Samsung said that its preliminary third-quarter operating profit declined by nearly 32 per cent from a year earlier, as the company has faced macroeconomic headwinds that weakened consumer demand

Apple's iPhone exports from India crossed $1 billion mark in 5 months

At the current rate, outbound shipments of India-made iPhones, mainly to Europe and the Middle East, are set to reach $2.5 billion in the 12 months through March 2023

Apple abandons plans to increase iPhone production after demand falters

Apple had upgraded its sales projections in the weeks leading up to the iPhone 14 release and some of its suppliers had started making preparations for a 7% boost in orders

Panel approves 32 beneficiaries under PLI for large-scale electronics mfg

An empowered committee headed by NITI Aayog CEO on Friday approved 32 beneficiaries under the production linked incentive scheme for large scale electronics manufacturing, including 10 for mobile manufacturing, the Aayog said. The Aayog in a tweet said the Parameswaran Iyer-headed committee approved the first incentive for mobile manufacturing under the PLI scheme for large scale electronics manufacturing. This is the first-ever disbursement under any PLI scheme, it added. "32 beneficiaries were approved under the #PLIscheme for Large-Scale Electronics Manufacturing, of which 10 (5 global and 5 domestic companies) were approved for mobile manufacturing," NITI Aayog said. The government has already rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, advance chemistry cell and speciality steel. The objective of the scheme is to make domestic manufacturing globally competiti

Electronics supply chain must give equal access to everybody: Chandrasekhar

We expect transparency in supply chains from all players in the ecosystem, minister says

Sahasra Semiconductors plans to invest Rs 750 cr to set up memory chip unit

Electronics firm Sahasra Semiconductors has said it expects to become the first company to set up a memory chip assembly, test and packaging unit in the country and start selling locally-made chips

India's plan to develop semiconductor ecosystem set in motion

The govt has received five proposals for setting up of semiconductor fabrication and display fabrication units worth Rs 1.53 lakh crore. Will India become a global semiconductor manufacturing hub?

No dual control on mobile device makers by DoT: Ashwini Vaishnaw

Move to bring the curtains down on the battle between mobile makers and DoT