SAMSUNG ELECTRONICS
Apple to begin airpods production for exports at Foxconn's Hyderabad plant from April
Apple is set to commence the production of AirPods for export at its Foxconn facility in Hyderabad starting April 2024. This move follows the establishment of a factory with an investment of USD 400 million. The decision aligns with Apple's strategy to expand its manufacturing base outside the US amidst ongoing tariff discussions.
China's Ecarx explores US entry, in talks with VW to develop smart cars for Europe, CEO says
Volkswagen is in discussions with Ecarx to incorporate the Chinese company's digital cockpit technologies in Skoda cars sold in Europe. Ecarx, already partnered with VW for markets in Brazil and India, aims to expand to developed markets. This move highlights Western automakers' efforts to utilize Chinese advancements in smart-driving technologies to maintain global market shares.
LG Electronics IPO: Season 2 of K-drama unfolds amid market slump
LG Electronics India has received SEBI approval for an IPO worth about Rs 15,000 crore. This move comes during a challenging period for the Indian market. Despite the current market slump, the company aims to boost its presence and valuation. The IPO could become one of India's largest, potentially raising $1 billion to $1.5 billion.
Millennials and Gen Z help small electronics brands ride the big demand wave
Indian consumers, especially millennials and Gen Z, are increasingly favoring smaller electronics brands. These emerging brands, leveraging innovation and competitive pricing, have grown significantly, outpacing larger brands in market share and sales growth. This shift is driven by premium features at lower prices and the rise of ecommerce.
Largest batch of 595 students at IIM Bangalore receive 650+ offers; management consulting accounts for 41%
IIM Bangalore has successfully concluded placements for its largest batch of 595 students, securing roles across 176 firms. Top sectors include management consulting, technology/product management, and investment banking, with significant participation from companies like Accenture Strategy, Boston Consulting Group, and McKinsey & Company.
Starlink’s India ambitions; Ola Electric charges towards profit
SpaceX’s satellite internet service Starlink is set to enter India through partnerships with Jio and Airtel. This and more in today’s ETtech Top 5.
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Google is poised to acquire eye-tracking startup for future glasses
The technology giant intends to buy the Canadian startup for $115 million, according to people with knowledge of the matter. That includes $15 million in future payments that will hinge on AdHawk reaching performance targets.
Phonemaker says its screen is full of Motorola orders
Lenovo's Motorola plans to ramp up smartphone production and exports from India after US tariffs on Chinese imports. Dixon Technologies reports healthy volumes of over 1 million units monthly and expects a significant increase. Motorola aims to export 12-18 million units to the US, despite potential reciprocal tariffs, highlighting a shift from China to India and Vietnam.
Haier aims for $2 billion sales in India in next 3-4 years, to invest Rs 1,000 cr in manufacturing
Haier Appliances India aims to achieve USD 2 billion in sales within the next 3-4 years, driven by product category expansion and channel growth. The company plans to invest over Rs 1,000 crore in new production facilities, projecting significant capacity increases to meet rising demand in the Indian market.
US to hold hearing on China's efforts to boost semiconductor industry
The investigation, initiated by former President Joe Biden in December, seeks to safeguard American and other semiconductor manufacturers from China’s extensive state-led expansion of its domestic chip supply.
Samsung seeking US public affairs head with Trump ties: Report
Samsung is looking to replace the current person in the North American external relations role, Mark Lippert, who served as U.S. ambassador to South Korea during the Obama administration, and was hired by Samsung in 2022 while former President Joe Biden was in office, DongA Ilbo reported citing unnamed industry sources.
Blinkit’s commission shift; Semicon Mission 2.0
Zomato’s Blinkit has overhauled the way it charges commissions to brands and sellers. This and more in today’s ETtech Top 5.
Handset companies like Samsung may boost India manufacturing to bypass US-China trade war
The Trump administration's increased tariffs on Chinese imports are prompting electronics firms like Samsung to consider shifting production to India. This move aims to bypass tariff impacts, with Samsung potentially expanding orders for Indian contract manufacturers. Industry experts predict more global smartphone production might migrate to India, despite China's manufacturing advantages.
TSMC to invest $100 billion in the US – What’s driving this massive move and how will it reshape the chip industry?
TSMC is making a bold move with a $100 billion investment in advanced manufacturing in the US, aiming to expand its semiconductor production and reduce risks from potential tariffs on Taiwanese chips. The company is building multiple fabs in Arizona, producing cutting-edge four-nanometer and two-nanometer chips. This investment aligns with the CHIPS and Science Act, creating thousands of jobs and strengthening the US semiconductor industry. As global demand for AI and high-performance chips rises, TSMC's expansion ensures a stable supply chain and secures its leadership in advanced chip manufacturing.
eInfochips joins Samsung Advanced Foundry Ecosystem to drive semiconductor innovation
This collaboration leverages eInfochips’ expertise in digital transformation and product engineering services to enable quicker and more effective market adoption of Samsung Foundry’s technologies for custom silicon development and semiconductor solutions.
Samsung, LG drive 10%+ revenue growth in India with AI-driven products & strategic launches
Samsung and LG, South Korean electronic giants, achieved significant revenue growth of over 10% in 2024 in India, thanks to aggressive product launches and promotional offers. Samsung's sales grew by 12% while LG saw a 14% increase, leveraging AI-embedded products and expanding exports.
AI-enabled products, exports & aggressive pricing boost Samsung & LG’s India sales by 10 per cent in 2024
Aggressive pricing, AI-enabled products, and export strategies have driven Samsung and LG's financial performance in India to see over 10% yoy sales growth in 2024. Both companies reported significant profit increases, despite India's subdued electronics market due to high inflation impacting consumer spending.
India mulls $1 billion subsidy plan to boost solar manufacturing
India is finalizing a $1 billion plan to support its solar manufacturing industry, aiming to reduce reliance on China and boost domestic production of wafers and ingots. The subsidies are expected to mirror the success seen in India’s mobile-phone manufacturing sector with companies like Apple and Samsung.
Apple’s ‘Make in India’ gains under threat from potential Trump reciprocal tariffs
Apple could face significant hurdles if the Trump administration imposes reciprocal tariffs on electronics and smartphone imports from India, potentially disrupting its manufacturing investments in the country. An increase in tariffs could also affect other smartphone manufacturers and auto component exporters, challenging their business dynamics with the US.
Samsung Electronics, union in South Korea agree 5.1% wage increase
Members of the National Samsung Electronics Union (NSEU), whose roughly 36,000 members make up about 30% of the company's South Korean workforce, will vote on the preliminary deal from February 28 to March 5, the two sides said.
US tariffs to hit exports of made in India iPhones, auto parts
The potential tariffs may impact other companies like Samsung and Motorola, and the auto component industry also faces similar concerns.
Companies hiring on all cylinders to take charge of EV market
Electric vehicle makers in India are ramping up hiring, with prominent firms like Tata Motors and Ola Electric expanding their teams across various key domains. Recruitment firms report a 25-30% surge in hiring mandates, driven by burgeoning consumer demand, government incentives, and infrastructure expansion, alongside attractive salary offers for senior roles.
Unfair termination? Employee claims being fired for taking leave during notice period
A Reddit post has sparked debate on workplace policies after an employee claimed he was terminated during his notice period for taking leave. The company also denied him a relieving letter, which could negatively impact his future job prospects. The employee had resigned due to a toxic work environment and excessive unpaid overtime. Users on Reddit offered mixed advice, with some urging legal action while others suggested using the offer letter instead.
Lam Research unveils two new chipmaking tools for AI chips
Lam competes with other major suppliers of wafer fabrication equipment, which are sophisticated and expensive tools to make chips, including Applied Materials, Dutch firm ASML and KLA Corp. The company's customers include firms such as Micron Technology, Samsung Electronics and Taiwan Semiconductor Manufacturing Co (TSMC).
Apple to launch new lower-cost iPhone to capture a broader market
Apple late last month forecast strong sales growth signaling that the company will recover from a dip in iPhone sales as it rolls out artificial intelligence features in the coming months to more regions and languages.
India's mobile phone exports surge 50% driven by record iPhone production
India's mobile phone exports rose by 50% in the first 10 months of this financial year. This increase is led by Apple's increased production in India. iPhone exports during this period were close to Rs 1 lakh crore. The growth is driven by production-linked incentive schemes and the rapid investments made by industry.
iPhone parts maker Murata eyes supply chain shifts toward India
Murata Manufacturing Co., a key supplier of iPhone components, is considering shifting some production to India as part of a broader global supply chain realignment. With rising demand in India and customer requests for overseas production, Murata is evaluating increased investment in the country.
Samsung Electronics nominates chip executives as new board members
Samsung Electronics on Tuesday nominated its chip business chief Jun Young-hyun and chip business chief technology officer (CTO) Song Jai-hyuk as new board members, it said in a regulatory filing.
Samsung Electronics to cancel $2.11 billion worth of own shares
Samsung Electronics will cancel 3.05 trillion won worth of its own shares. It will also acquire 2.7 trillion won worth of its own common shares and 304 billion won of other shares between Feb 19 and May 16. This is part of Samsung's plan to raise shareholder value and benefit employees.
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