Page 5 - Electronics Industry

NeST Group's SFO Technologies expected to go public in next 2 yrs: Official

Kochi-based SFO Technologies, the flagship company of the NeST Group, is all set to go public in the next two years' time, the company said on Friday. SFO Technologies, which is one among the largest exporters of electronics hardware in the country, is planning to take the IPO route for major expansion projects, it said. Chairman and Managing Director of NeST N Jehangir said the group has busted the myth that Kerala is not industry friendly. "NeST group, over years, has broken the myth that the state is not industry friendly," he said, adding that in the past 30 years they have not faced any labour issues. In a release issued by the NeST, Jehangir said they employ 35-40 per cent women staff in their plants and development centres in Kerala to encourage women empowerment and gender equality. "Women excel in every facet of operations and management, including mission critical assignments. With over 60-plus Original Equipment Manufacturers (OEM) customers and exporting to 56 countrie

Daewoo enters Indian consumer electronics market via Kelwon Electronics

South Korean brand Daewoo has entered into fast-growing Indian consumer electronics and appliances market through its licensee partner Kelwon Electronics & Appliances, which has plans to invest around Rs 300 crore in the next three years. Kelwon, which sells products, including Lithium Hybrid Inverters and LED TVs, will introduce products in sectors such as energy and power, and consumer electronics, under brand Daewoo - now owned by South Korean conglomerate POSCO DAEWOO. As per its marketing strategy, Kelwon would adopt a twin brand strategy, where it will place the products under Daewoo in the premium and mid-premium segment, while mass to mid-premium would be catered through its own brand, its Managing Director H S Bhatia said. Kelwon will initially get the Daewoo products manufactured locally here through OEM (Original Equipment Manufacturer), under the R&D and technical support from the South Korean brand. However, when the volume picks up substantially in the coming ...

HP to make Chromebook laptops in India in win for PM Modi's tech push

India has been expanding its electronics manufacturing sector as companies diversify production beyond China amid growing Washington-Beijing tensions

Electronics industry body seeks PLI scheme for non-semicondcutor sectors

Electronics industry body ELCINA has requested the government to come up with a production linked incentive scheme for non-semiconductor or computer chips sector which is dominated by imports, a senior official of the organisation said. According to Electronic Industries Association of India (ELCINA) report, total electronic component market in the country was estimated to be around USD 39 billion, of which 68 per cent requirement was met through imports in 2021-22. While speaking at 48th ELCINA Award Ceremony, organisation's new President Atul B Lall said that the government's scheme for devices has been hugely successful and the incentive scheme for semiconductor sector is seeing a lot of traction and some investments have started flowing in. "Our humble submission and perseverance is going to be to do the same for non-semiconductor component sector also. For which we request government's intervention," said Lall, who is Vice Chairman & Managing Director of Dixon ...

From smart phones to laptops, 206 mn obsolete devices lying with households

Disposal, recycling of e-waste continue to be a major challenge

Selective ICT import duty cut: Commerce department, MeitY divided

India, a signatory to the ITA, is required to eliminate tariffs on a range of products, including mobile handsets

IBM throws weight behind Japanese chip startup it sees as crucial

Rapidus, a venture backed by some of Japan's biggest electronics firms, is turning IBM's 2-nanometer chip design into production-ready silicon and aims to fabricate such chips

Backed by mobile devices, electronics up 2 notches to 4th place in exports

In this period, electronics exports touched $4.54 billion, an increase of 48 per cent from the previous year in the same period when it was $3.06 billion

PLI scheme for mobile production led to 20% value addition, says govt

Of the $101 billion electronics production in FY23, smartphones constituted $44 billion

Tata Electronic plans to bolster presence in electronics, semiconductor biz

Tata Electronic's expansion plans are being seen as an extension of its ongoing acquisition of Wistron's iPhone manufacturing unit in Karnataka's Kolar district

Apple, Samsung looking to expand in India, says MoS Rajeev Chandrasekhar

India is launching a $2 billion plan to boost local output of laptops, servers, tablets and other electronics

Ekka Electronics to invest Rs 1,000 cr in 3 yrs to set up facility in Noida

Consumer electronics company Ekka Electronics on Wednesday said will investing Rs 1,000 crore to set up a factory in Noida, Uttar Pradesh and enter into the manufacturing of products such as washing machines, smart watches, hearables and TWS (true wireless stereo). The Noida plant, in which the company would invest Rs 400 crore by July this year on the acquisition of land, equipment, construction of the facility etc., will house a complete backward integration and in-house design and manufacturing solutions, said its director Sagar Gupta. The plant will manufacture TV and other products such as washing machines, smart watches, hearables and TWS. At present, the company has a setup at Sonipat, Haryana for manufacturing of LED TVs up to 43 inch screen size and set-top-boxes. "In the new plant, we would manufacture LED TVs from screen size of 43 inches to 90 inches, which is currently based on imported components and assembling. We are planning to manufacture those imported components

Supported by PLI, export of electronic products overtake garment exports

Data released by the commerce department estimates that the exports of electronic products may have increased over 50 per cent in the financial year 2022-2023 to $23.6 billion

Govt nods for 34 electronic components production proposals of Rs 11,187-cr

The government on Wednesday said it has approved 34 electronic components manufacturing proposals worth Rs 11,187 crore till March 30 this year. In a written reply to Lok Sabha, Minister of State for Electronics and IT Rajeev Chandrasekhar said the government had notified a Scheme for Promotion of Manufacturing of Electronic Components (SPECS) on April 1, 2020, and applications were received till till March 30, 2023. "As on March 30, 2023, 120 applications have been received under SPECS. The applications received under the scheme are from domestic companies. As on March 30, 2023, thirty four (34) applications with total project cost of Rs 11,187 crore have been approved under the scheme," he said. Under the scheme, the approved proposals include those from Tata Electronics, Samsung Display Noida Pvt Ltd, Salcomp Technologies, Sahasra Semiconductors, IdemiaSyscom, Deki Electronics, Molex India and Continental Device India Pvt Ltd.

Voluntary star labelling for multi-door fridge, induction hobs launched

Power and New & Renewable Energy minister R K Singh on Wednesday launched Voluntary Star Labelling Programme for multi-door refrigerators, table- and wall-mounted fans, pedestal fans, and induction hobs. This programme is expected to save approximately 11.2 billion units of electricity by 2030 and will enable the reduction of CO2 emission close to 9 million tonnes by 2030 and help India to transition towards low carbon sustainable growth and achieve its ambition of net zero by 2070. The minister launched the programme at a function to celebrate the 21st Foundation Day of Bureau of Energy Efficiency (BEE) in the capital. Singh urged the BEE to play greater role for shaping India's energy transition roadmap for more initiatives and said that the BEE and EESL (Energy Efficiency Services Ltd) have facilitated the country in achieving the goals it set for itself in terms of reduction of emissions. "Our per capita emissions are very low compared to the world average; we are 1/3 of the .

Gizmore eyes Rs 200 crore business from smartwatches next fiscal

Smart devices and accessories maker Gizmore is planning to scale up production of smartwatches by about two and half times to 15 lakh per annum, as it looks to generate business of around Rs 200 crore in the next financial year, a top official of the company said. Gizmore CEO and Co-Founder, Sanjay Kalirona told PTI that the company at present makes around 50 thousand smartwatches per month (six lakh per annum) in India and is going to scale up the production to around 15 lakh smartwatches in the next financial year. "Smartwatches are the fastest growing segment for us. It now accounts for 60 per cent of our business. We expect to close this fiscal with around 40-50 per cent growth. In the next fiscal, we are targeting 100 per cent growth and over Rs 200 crore business to come from smartwatches alone," he said. The company expects to close the current fiscal with revenue of about Rs 75-80 crore comprising Rs 50 crore revenue from the sale of smartwatches. "We are expanding our reac

Samsung unveils Galaxy Book3 Ultra with 13th Gen Intel chips, Nvidia GPUs

Samsung Galaxy Book3 Ultra will enter the markets on February 22; the specific launch date for India is not yet revealed

Meta working on new version of previously cancelled smartwatch: Report

Meta is reportedly working on a new version of its previously cancelled smartwatch

Samsung to unveil flagship Galaxy devices at Unpacked event today: Details

Samsung is expected to launch the Galaxy S23 series smartphones and Galaxy Book3 series laptops at its first Galaxy Unpacked event on February 1, 2023

Electronics export may grow by 37% to cross Rs 1.6 trn this fiscal: ICEA

Electronic goods export is likely to grow by 36.8 per cent to cross Rs 1.6 lakh crore in the current fiscal, with mobile phone export accounting for nearly half of the total pie, industry body ICEA said on Tuesday. The electronic goods export in 2021-22 was Rs 1,16,937 crore, according to India Cellular and Electronics Association (ICEA). "In financial year (FY) 2021-22, India exported Rs 1,16,937 crore worth of electronic goods and is estimated to export more than Rs 1,60,000 crore in FY 2022-23. The mobile phone exports in FY 2021-22 were Rs 45,000 crore, and is estimated to reach more than Rs 75,000 crore in FY 2022-23," ICEA said in a note. According to the industry body, the total exports of electronic goods from India from April to December 2022 grew to Rs 1,33,313 crore against Rs 81,780 crore in 2021. The growth in electronic goods exports is primarily led by mobile phone exports, which are estimated to have increased over Rs 60,000 crore in April-December 2022 from Rs 27,2