Nokia, which ranks third in the global network gear market after Ericsson and Huawei said its equipment unit's core operating profit rose to 470 million euros (USD 530 million) in the fourth quarter, or 14 percent of sales, from 397 million euros in the previous quarter.
"E-commerce investment has been rising because of over 1 billion customers; let me tell you e-commerce in India is going to stay, it is promising very well, and I am personally monitoring it,â€ Telecom minister Ravi Shankar Prasad said.
Industrial output for November is expected to rise to 2.2 percent against a decline of 4.2 percent in October supported by favourable base effect and a pick up in manufacturing, higher working days on a month-on-month basis.
Confirming that Nokia was approached by parties interested in buying the Chennai facility, the company said, "due to confidentiality reasons we will not comment further on this topic."
"Due to the steep growth in mobile broadband traffic, the operator has modernised its 3G network based on Nokia Networks' single RAN (radio access network) product and services," Nokia said in a statement.
Featuring the Microsoft logo, the Lumia 535 has a 5-inch display, 1.2 GHz quadcore processor and 1GB RAM. Along with 8 GB internal storage and 15 GB of free OneDrive storage, the device supports expansion up to 128 GB through microSD cards.
Microsoft sued Samsung in August, accusing it of breaching a collaboration agreement by initially refusing to make royalty payments after the US company announced its intention to acquire Nokia‘s handset business in September 2013.
Rs 1,800 crore, that's the hit the Nokia Group took by shutting down its manufacturing facility in Tamil Nadu. This closure was forced on it by the fact that the plant was left out of the transaction when Microsoft bought the company.
Loaded with its latest Windows Phone 8.1 operating system, the Lumia 535 and Lumia 535 dual SIM will be priced at around 110 euros (about USD 137) before taxes and subsidies, Microsoft said in a statement.
CNBC-TV18‘s Latha Venkatesh spoke about the quality of India's macro-economic data with TCA Anant, Chief Statistician and Pranob Sen, Chairman, National Statistical Commission.
"As announced earlier (October 7), we are stopping handset production at our Chennai plant from tomorrow (November 1) in the absence of orders from our new parent firm (Microsoft), which terminated the mobile purchase agreement," a Nokia India official told IANS.
It's an unpleasant reality for a government keen on pushing the 'Make in India' agenda. While Friday saw the closure of Nokia's Chennai handset plant, in Mumbai, labour protests broke out outside the HUL headquarters
The mobile phone has 1.8 inch color display, promises standby time of up to 36 days. Nokia 130 claims to support 13 hours talk time on 2G network or 46 hours music playback and 16 hours video playback on one time full battery charge.
According to a post on Nokia France's Facebook page on Tuesday, the page will change its name to Microsoft Lumia "in the coming days."
Nokia has Global Delivery Center (GDC) in Noida near Delhi and Chennai, India's largest telecom manufacturing facility, and Research and Development center in Bangalore
"We have said that if we are allowed to sell the factory, any money we get from the sale, we would put it in the escrow account. It won't be ours. We would put it in a place until the tax dispute is resolved," said Barry French, Executive Vice President, Marketing, Communications and Corporate Affairs, Nokia.
"This is an issue specifically related to a particular company and there is an issue on that. We are seized of the matter. We will look at it," Commerce and Industry Minister Nirmala Sitharaman said.
Speaking to CNBC-TV18, Bhaskar Pramanik, chairman, Microsoft India said shutting of Chennai plant is unlikely to tamper the company's plans as it was never the part of the acquisition and hence, it will have no impact
According to FBR Capital Markets, the deal would enable Microsoft to "remain laser-focused on strategic growth areas (cloud/mobile) going forward and continue to capitalize on current momentum from Azure and Office 365 offerings."
Nokia said the acquisition is expected to boost company's network implementation services business and grow market share in the US.
The apex court has told Nokia to submit an undertaking to assure tax liability payment before it can transfer one of its largest phone factories to Microsoft.
The I-T department reiterated that there is at least tax liability of Rs 10000 crore against Nokia and that the company must be asked to submit a bank guarantee and not just an undertaking.
The tax department is now saying that unless six conditions are fulfilled this transfer of asset should be not be permitted. These six conditions include deposition of around Rs 3862 crore for the present tax liabilities and it includes the interest component.
"India is one of the fastest growing markets for smart phones in the world. With the launch of Nokia X, we are adding more ammunition to our smartphone portfolio. We believe Nokia X is a unique combination of Nokia quality and experiences, Microsoft services and Android apps," Nokia India Managing Director P Balaji told PTI.
Nokia X will be rolled out (prices starting starting at 89 euros or about Rs 7,500) in Asia-Pacific, Europe, India, Latin America, the Middle East and Africa.