Page 2 - Mobile Manufacturing

Morale of the industry at all-time low, says ICEA on Lava MD arrest

Morale of the mobile manufacturing industry has hit an all-time low with the arrest of Hari Om Rai, founder of homegrown device maker Lava International, industry body ICEA said on Saturday. The Enforcement Directorate has arrested Rai in an alleged money laundering case against Chinese smart devices maker Vivo. "We understand that the morale of the industry has hit an all time low and national champions are feeling very demoralised. We want to assure them that we have full confidence in India's regulatory and judicial system and we are sure that he (Rai) will emerge from the clouds and continue to champion the development of our industry which is critical in building the nation," ICEA chairman Pankaj Mohindroo said in a statement. ED raided Vivo and its linked persons in July last year, claiming to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. The ED had then alleged that a whopping Rs 62,476 crore was "illegally" transferre

Smartphone manufacturers expected to hire 60,000 in next 6-12 months

Tamil Nadu is likely to make up for a large part of these jobs, alongside Delhi-National Capital Region, and Karnataka

India is now the second-biggest mobile phone-making country: Counterpoint

Mobile phone shipments from India crossed the 2 billion cumulative units mark under the 'Make in India' initiative during 2014-2022

Driven by PLI India to cross Rs 1.2 trn in mobile exports in FY24

Buoyed by friendly govt policies and PLI scheme, India is set to cross Rs 1,20,000 crore in mobile exports in the current fiscal year (FY24), driven by Apple

Why 30% localisation an uphill task for Apple under PLI scheme in India

Apple's vendors have localised chargers, batteries, printed circuit board assembly (or PCBAs), enclosures, and coils, to name a few

VP Madhav Sheth bids goodbye to tech brand Realme after 5 years stint

Madhav Sheth, VP for Business and Corporate Strategy (Global) at realme, on Wednesday bid goodbye to the leading technology brand after five years to start a new journey

Govt pays PLI incentives worth Rs 2,874 crore towards 8 sectors in FY23

Empowered group of secretaries, Aayog review some sectors to bring them to 'acceptable levels'

Business isn't ringing for sub-Rs 10k smartphones as costs rise, 5G knocks

Inflation, higher component costs among reasons for decline of popular segment

Mobile device makers mull fee for Google to pre-install its apps

A meeting of key mobile device brands is expected soon to discuss Google's changes in its app policy and take a final call

Huawei may be 'entirely' cut off from American suppliers: Report

China accuses Washington of pursuing technology hegemony

Sebi returns Lava Intl's draft IPO papers; asks to refile with updates

Capital markets regulator Sebi has returned the draft IPO papers of Lava International and asked the home-grown mobile maker to file documents again with certain updates. The move might delay the company's initial public offering (IPO). Lava International had filed draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in September 2021 to raise funds through an initial share-sale. The proposed IPO comprises fresh issuance of equity shares worth up to Rs 500 crore and an offer for sale (OFS) component of 4,37,27,603 equity shares. The OFS consists of sale of 1.25 crore equity shares by Hari Om Rai, up to 31.35 lakh shares by Shailendra Nath Rai, up to 78.38 lakh shares each by Sunil Bhalla and Vishal Sehgal, up to 1.13 crore shares by Unic Memory Technology and up to 9.75 lakh shares by Tupperware Kitchenware. The company proposes to utilise the proceeds from the fresh issue for marketing and brand building activities, funding acquisition and ot

'A question of time' before Google makes mobile phones in India

The Pixel phones will be made primarily for exports

On Udaan network, local mobile accessory brands take wings in 'Bharat'

Udaan said its in-house expert team works closely with small manufacturers and trains them to run an e-commerce business

Foxconn's China iPhone factory in disarray due to Covid outbreak: Report

Foxconn's factory in Zhengzhou in central China is the world's largest assembly plant for Apple's iPhones

OnePlus Nord 2T 5G review: Flagship essentials, but wanting in prowess

The OnePlus Nord 2T may be the best OnePlus midrange smartphone but not the best in the segment because it seems wanting in comparison with other midrange smartphones launched this year

India's aversion to Chinese investments and how geopolitics impacts PLI

India's stringent restrictions on Chinese investments have hampered the creation of a robust supplier ecosystem for mobile and IT device makers

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

Tax hike on components to make mobile PLI uncompetitive for exports: ICEA

ICEA has said that increase in taxes on components will make the products manufactured in India under the PLI scheme globally uncompetitive.

Shifting from imports, India now exporting mobile phones worth $3 bn: PM

India used to import mobile phones worth USD 8 billion seven years ago and now the country is exporting such devices worth USD 3 billion while reducing imports significantly, PM Modi said on Sunday

Foxconn's Q2 profit beats estimates as pandemic drives tech demand

Taiwan's Foxconn reported a better-than expected quarterly profit on Thursday due to strong demand for technology products from clients, such as Apple Inc