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
BUSINESS
Oppo to introduce GenAI features in entry-level smartphones, says global executive
Oppo aims to sell over 50 million smartphones with GenAI features globally, and will roll out over 100 Generative AI capabilities to its phones this year
BUSINESS
Impact of Vodafone Idea preferential share issue to reflect in July-Sep quarter: Ericsson
The company anticipates that the impact of the Vodafone Idea transaction, in which it took an equity stake to settle outstanding accounts receivables, will be recognized in the third quarter.
BUSINESS
Telecom minister Scindia to meet private telcos on July 16 to discuss industry growth roadmap, reforms
Top executives of three major private telcos, Bharti Airtel CEO Gopal Vittal, Vodafone Idea CEO Akshaya Moondra and Jio Chairman Akash Ambani, are expected to participate in the discussions in Tuesday's meeting.
BUSINESS
Acer re-enters India's smartphone market through licensing deal with Bengaluru-based Indkal
Indkal Technologies will launch a wide range of smartphone models under the Acer brand in mid-2024, expecting to quickly build strong momentum and a significant market share.
BUSINESS
Airtel, Jio to record 10-11% topline growth, Vodafone Idea revenue to drop in Q1
For Airtel, the growth will be on the back of premiumisation-led ARPU growth while the growth for Jio will come on the back of strong subscriber addition
TECHNOLOGY
Apple issues fresh alerts about Pegasus-like spyware attacks to iPhone users in India
Iltija Mufti, daughter of former J&K chief minister Mehbooba Mufti, and Pushparaj Deshpande, founder of Samruddha Bharat Foundation, say that Apple notified them of a possible hack on their phones
BUSINESS
Budget 2024: Telcos dial Fin Min seeking tax reforms, duty relief in 5G gears
On exemption of customs duty, the COAI has requested exemptions on customs duties for certain telecom equipment to alleviate the cost challenges associated with deploying this critical infrastructure
BUSINESS
Budget 2024: Electronics industry wants duty rationalisation, sops to compete with China, Vietnam
The Indian Cellular and Electronics Association, which represents companies such as Apple, Foxconn and Dixon, also wants policy and financial support for building large-scale components and sub-assembly ecosystems
BUSINESS
Smartphone industry expects double-digit revenue growth this year; Apple, Samsung to lead
Market trackers Counterpoint and Canalys estimate India's smartphone industry revenue to grow 14 percent this year. Apple, Samsung, Vivo, OnePlus and Oppo will be the top five players by value market share
BUSINESS
Xiaomi aims to source over 50% smartphone components locally by 2025, no plans for EV launch: India President
Xiaomi's plans align with the Ministry of Electronics and Information Technology's (MeitY) upcoming incentive scheme, set to launch in August-September with an anticipated outlay of Rs 30,000-40,000 crore.
BUSINESS
Apple may revive plans to make iPads in India, eyes Pune for AirPod cases
Last year, Apple shifted its iPad product development focus to Vietnam with BYD after encountering difficulties in obtaining approvals to set up iPad manufacturing operations in India.
BUSINESS
Optiemus drone unit eyes Rs 600-900 crore revenue by December 2025; in talks with govt to deploy up to 6,000 drones
The company plans to invest Rs 140 crore in manufacturing of drones.
BUSINESS
Dixon Technologies in talks with global laptop, tablet makers, to start manufacturing next fiscal
The company plans to drive growth more through joint ventures and partnerships rather than mergers and acquisitions. It aims to capture a 15 percent to 20 percent IT hardware market share over the next two to three years.
BUSINESS
Google to export India-made Pixel smartphones to Europe, US; trial production begins
The base variant of Pixel will be made by home-grown Dixon Technologies, while Foxconn will be responsible for the Pro variants
BUSINESS
Rejig at OnePlus India amid offline boycott woes; Chinese exec named India CEO despite govt push for local talent
OnePlus’s head of offline business, Samrudh Pai, left the company, while Ranjeet Singh, sales director, has been moved to lead the online business
