Category — Electronic

Foxconn to Invest $5 Billion in India

Taiwan-based Foxconn, the world’s largest contract manufacturer for electronics, will invest up to $5 billion in India to make the country a parallel manufacturing hub to China for export to key markets across Europe and the U.S. In India, Foxconn is keen on investing in a display fab unit, Computer Numerical Control machines, a lithium-ion cell factory, and facilities for printed circuit boards.

An executive of the company said, “India is already high on our priority list, and we now plan to step up investments and business here by opening new factories and expanding the manufacturing footprint.” The expansion will create employment opportunities in the country , the official said, adding that the company is in serious talks with many state governments.

Foxconn Logo

Foxconn manufactures phones for companies such as InFocus, Oppo, Xiaomi, Nokia and Gionee from its existing facilities in India. The official said that Foxconn will look at “vertical integration” for its operations in India, reports the Economic Times.

August 31, 2017   No Comments

Apple India Records 18% Growth in Second Quarter

Apple reported over $45 billion in revenue and $8.7 billion in profit for the second quarter.  CEO Tim Cook declared, “We are investing in India. We have already launched an app accelerator center. That’s on top of working with the channel and looking at expanding our go-to-market in general. And we began to produce the iPhone SE there during the quarter, and we’re really happy with how that’s going.” The company’s sales in India grew at over 18 percent compared to the second quarter last year.

The Times of India reports that Cook said, “I’m very, very bullish and very, very optimistic about India.”

iphone

 

August 8, 2017   No Comments

India a Top 10 Trade Partner for USA

India is currently U.S.’s 9th largest goods trading partner with $67.7 billion in total (two way) goods trade during 2016. Goods exports totaled $21.7 billion; goods imports totaled $46.0 billion. The U.S. goods trade deficit with India was $24.3 billion in 2016.

According to the U.S. Census Bureau, the country’s top imports include jewelry, silverware, sporting and athletic goods, toys, basic chemicals, pharmaceuticals, medicines, apparel, accessories, textiles, and coal and petroleum products.

U.S. top exports include precious stones, pearls, metals, basic chemicals, medical and surgical equipment, metal manufacturing, computers, electronic products, and machinery other than electrical.

The tables below compare the figures for the first five months of U.S. – India trade for 2016 and 2017. The table also lists the trade figures for the first five months of 2009 which show that the trade deficit in that year was less that in recent years.  All figures below are in millions of U.S. dollars on a nominal basis and not seasonally adjusted.

Month, Year Exports Imports Month, Year Exports Imports
Jan ’17    1,703.0     3,791.9 Jan ’09

 

1,139.8 1,833.5
Jan ’16    1,485.7     3,693.3
Feb ’17    1,937.8      3,474.3 Feb ’09    1,046.8  1,579.0
Feb ’16    1,526.3      3,660.9
Mar ’17     2,114.5        4,143.9 Mar ’09    1,123.5  1,773.0
Mar ’16     1,834.5        3,997.0
Apr ’17     1,939.4        3,730.5 Apr ’09     1,268.8          1,799.2
Apr ’16     1,772.7        3,678.3
May ’17      2,056.9        4,531.1 May ’09     1,507.5  1,580.8
May ’16      1,585.9        4,124.9

Comparison of U.S. trade in goods with India for Jan to May in 2017 and 2016, and 2009.

 

August 4, 2017   No Comments

Reliance India Offers a 4G JioPhone for “Free”

India’s Reliance Industries‘ chairman Mukesh Ambani launched the 4G-enabled feature phone, the JioPhone at the company’s annual general meeting. This mobile phone is free for 3 years with a refundable deposit of $23.

4G VoLTE-enabled JioPhone

 

India.com reports that the 4G VoLTE-enabled JioPhone is packed with features such as:

  • Unlimited voice, data, and texts for a data plan of $2.50 per month
  • Support for all languages
  • It is pre-loaded with Jio apps, a flashlight, an expandable SD card slot, a headphone jack, microphone, speaker and 4-way navigation
  • An intelligent voice assistant command option that can help users make calls, use Jio apps, search the web, and more
  • It includes an SOS feature and also supports FM Radio
  • Its “Jio Phone TV-Cable” can be connected with any television, not just smart TV

The move by Reliance can prove to be the next disruptor in India’s telecom market.

 

July 21, 2017   No Comments

Diebold Nixdorf Targets over 30 percent Revenue Growth in India

With 49 percent market share in the ATM segment, and a presence in 4,000 Tier I cities in India, Ohio-based Diebold Nixdorf plans to shift its focus to Tier 2 and Tier 3 cities. This is part of its strategy to grow its retail business in India the company’s managing director S. Asia, and vice-president, operations, Asia-Pacific, Jaivinder Singh Gill, told BusinessLine. “We have started work [entering Tier 2 and Tier 3 cities]. We should get returns in 2018-19. We need different solutions and products for that market,” he said.

Diebold Nixdorf PoS machine

Gill sees ample opportunities to grow the retail (ePoS) side of the business in India. The target is to grow retail revenues by 30-40 per cent this fiscal, he said. The company will also look to manufacture ePoS machines under the ‘Make in India’ program, Gill added.

 

June 16, 2017   No Comments