BUSINESS
HMD to export India-made mobile phones to Europe, US; founder says Nokia brand irrelevant in smartphone market
The Finnish company is now shifting its focus to promoting its brand, HMD, for smartphones in a strategic effort to revitalise its market presence, where it has struggled since its 2016 entry.
BUSINESS
Nvidia starts delivering latest chips to Indian partners for AI cloud infra
Nvidia managing director of South Asia Vishal Dhupar says the company is not chasing market share but wants to create new markets which will help the economy
BUSINESS
HFCL Q1 net profit up 46%; in advanced discussions to export defence products
HFCL said it is in advanced discussions with companies in several countries to export defence products, including electronic fuzes.
BUSINESS
Long-standing demands remain unaddressed; PCBA duty hike to push up cost of services: Telco body COAI
COAI said the telecom operators’ long-standing demands remain unaddressed.
BUSINESS
Telecom gear PCBA duty hike to increase localisation and create jobs: Sunil Vachani, Dixon
Dixon has a joint venture with Airtel to make customer premises equipment (CPE) and routers. It expects the demand for these devices to pick up due to the rollout of the country's 5G fixed wireless access (FWA) broadband service.
BUSINESS
Apple to save upto $50 million per year due to BCD reduction; to invest in India expansion
Experts said the move translate to $35-$50 million per year in savings for Apple until it starts manufacturing Pro models immediately.
BUSINESS
Proposed duty cuts: Prices of fully assembled imported smartphones may fall in India
India Cellular and Electronics Association (ICEA), which represents Apple, Foxconn, Dixon, Xiaomi, Oppo and Vivo, among others, said that the industry's proposal for tariff slab rationalisation has also been acknowledged and has announced that it will be taken up in the next six month would further embolden the industry and its competitiveness.
BUSINESS
FM proposes increasing PCBA duty from 10% to 15% on certain telecom equipment to push local manufacturing
Domestic and multinational companies ' local production of telecom equipment, leveraging the production-linked incentives (PLI) scheme, surpassed the milestone of Rs 50,000 crore. Exports totalled around Rs 10,500 crore, creating more than 17,800 direct jobs.
BUSINESS
FM Nirmala Sitharman proposes reduction in basic custom duty to 15% on mobile phones, PCB and chargers
She said that the mobile industry has matured over the last many years.
BUSINESS
Focusing on FDI from China a better way to boost India's exports to US: Economic Survey 2024
The survey highlighted India has experienced a significant increase in its electronic exports over time from the trade diversion from China. India's electronic exports to the US have transitioned from a trade deficit of $0.6 billion in FY17 to a trade surplus of $8.7 billion in FY24, underscoring a significant increase in value addition.
BUSINESS
India features among world’s fastest-growing 5G networks: Eco Survey
The Economic Survey 2023-24 added that the total number of mobile towers in the country was 8.02 lakh as of June 2024, while the number of Base Transceiver Stations (BTSs) stood at 29.37 lakh, and 5G BTSs were 4.5 lakh.
BUSINESS
Telecom tower companies want Budget to extend input tax credit to infra
The Digital Infrastructure Providers Association (DIPA) also wants industrial electricity tariffs for telecommunication infrastructure across states
BUSINESS
Tariff hikes will strengthen the telecom sector in the long term: Jio Platform's Anshuman Thakur
The senior executive said Jio has a “very good spectrum” bank that fulfils requirements across Jio's services, including 4G, 5G mobile, and home broadband.
BUSINESS
Tata Communications to continue making organic investments this fiscal, AI Cloud launch with Nvidia in Q3: AS Lakshminarayanan, MD
The full launch of AI Cloud with NVIDIA will be ready by Q3, he said, adding that the company will spend $250-$300 million this year on capacity expansion and organic product development. Any further investment will depend on inorganic opportunities that may come up, he said.
BUSINESS
BSNL will have to meet daily 4G rollout targets; India to lead the world in 6G, says Scindia
All rules of new telecom law, which came into being last year, will be notified in 180 days, the telecom minister has said
BUSINESS
Tata Communications Q1 net profit falls 13% to Rs 333 crore, revenue up 18%
Analysts expected Tata Communications' revenue to grow ~1% quarter-on-quarter, largely led by a 2.5% growth in the Data segment. They expected PAT to decline 39% QoQ to Rs 2.3 billion, due to lower Other income.
BUSINESS
Smartphone market grows 1% in April-June, Xiaomi reclaims top spot in India: Canalys
After six quarters, Xiaomi reclaimed the top spot, capturing an 18% market share with 6.7 million units shipped. Vivo closely followed, shipping 6.7 million units, boosted by affordable 5G and mid-range models.
BUSINESS
Nokia India Q2 net sales down 68% on lower 5G investments by top telcos
Nokia is in talks to secure fresh 4G and 5G equipment orders from Vodafone Idea
BUSINESS
DoT suspends 2 telemarketing firms over 5.55 crore malicious SMSes linked to cybercrime
The investigation was initiated following reports of malicious SMSs at the 'Chakshu' facility on the Sanchar Saathi portal. A thorough analysis of the information provided by citizens resulted in significant discoveries and allowed for specific interventions.
BUSINESS
Electronics industry wants India to act swiftly to replace China in US supply chains
An Indo-US Task Force for Electronics, created by the Indian Cellular and Electronics Association (ICEA), will meet next month to create a roadmap for increasing electronics trade between India and the US from $12 billion to $100 billion over the next decade.
BUSINESS
Indus Towers expects growth as Airtel, Vodafone Idea expand: Analysts
Vodafone Idea is expected to roll out over 60,000 tenancies in the next few quarters, a lucrative opportunity for the Indian tower industry
COMPANIES
DoT asks telcos to pay for 5G spectrum sold in June auction
Sources familiar with the matter said the demand notices were sent on July 16 after the Union finance ministry approved them. Moneycontrol has seen a copy of demand notices to all the three telcos
BUSINESS
Budget 2024: Private space cos seek reasonable spectrum usage charge, PLI for components and tax holidays
The Indian Space Association (ISpA) also suggested allowing a 25% depreciation on the one-time licence fee for satellite operators and treating the annual licence fee as revenue expenditure. This approach would reduce taxable profits and optimize the tax impact, thereby supporting business operations in the satellite sector.
BUSINESS
Optiemus open to tie-ups with global handset firms if it offers long-term benefits: chairman Ashok Gupta
The company is in talks with several Chinese brands for local manufacturing partnerships for their smartphones. The company, which has PLI approvals for smartphones, IT hardware, and telecom, is also exploring tie-ups with Taiwanese players in the telecom equipment space
