Smartphone shipments grew 20 per cent to 33.5 million units in the June quarter 2018 compared to the year-ago period, boosted by launch of online exclusive devices as well as strong shipments by offline retail-heavy players, research firm IDC said.
More than 70% of smartphone users in India switched brands in the second quarter of this year, befitting Chinese smartphone maker Xiaomi the most which sold nearly 37 per cent of the phones that were replaced, according a CyberMedia Research (CMR) report.
Chinese smartphone maker Xiaomi on Monday said that its component supplier Holitech Technology will invest $200 million (nearly 1,400 crore) to set up a manufacturing unit in Andhra Pradesh that could generate 6,000 jobs in three years.
Optiemus Infracom, which makes BlackBerry phones for the Indian market, expects the brand to capture 10-12% market share of the Rs 25,000-45,000 smartphone segment by the end of this year.
Huawei has surpassed Apple to become the second largest smartphone player globally during the June 2018 quarter as the Cupertino giant registered slow sales in India and flat shipment in China, according to multiple industry reports.
Samsung Electronics Co Ltd hasn’t been too proud to adopt in India where Xiaomi Corp and other Chinese brands have made hefty inroads.
HMD Global is looking to hire an e-commerce lead to deal with its online distribution partners like Amazon and Best Buy.
ASCI upheld complaints against 89 misleading advertisements in April, including those of Tata Steel, Yamaha Motor, Xiaomi and Himalaya Drug company.
Chinese smartphone maker Xiaomi on Tuesday expanded its Android One line-up with Mi A2 and Mi A2 Lite devices that will come to India soon.
China’s biggest manager of bad debts is trying to exit early from at least three loans and investments as it wrestles with a liquidity crunch triggered by an anti-corruption probe into its chairman, people with knowledge of the matter said.
Aircel moves SC to make Airtel clear dues
Alleges that the co withholding Rs453 Cr of bank guarantees paid on its behalf
Bank guarantees have lapsed and Aircel wants Airtel to pay the money
Alleged that Airtel is trying to usurp the sum
Aircel says without the money it may get liquidated
Bain joins KKR in race for Max Healthcare stake
PE firms look to buy 47% stake from Life Healthcare for $450-540 Mn
To decide on buy back of shares on Aug. 20
JET AIRWAYS CLARIFIES
Co planning $400 Mn stake sale is speculative in nature
Jet Auditor BSR may quit if issues are not resolved is factually incorrect
Have been pro-actively working on multiple revenue enhancements
Evaluating various funding options to meet liquidity requirements on priority
Relationship with Etihad Airways very strong
No delays in discharging any loan obligations to any of the lenders
Default status in tabular statement only due to technical errors, rectified now
Clarifies that reports of stake sale are purely speculative
Also Clarifies that rumors of auditor quitting if issues not solved are factually incorrect
Seeks lenders help in bid to avoid default
Airline wants waiver of loan covenant on existing debt facility of $185mn
Co has to repay or refinance at least $500mn of existing debt to avoid default
Told lenders it won’t be able to meet min $50mn profit condition for FY19
Consortium of lenders yet to decide on Jet’s request
Airline’s total debt was Rs 9430 Cr as on 31st March 18
NSE TO JET AIRWAYS
Have noticed a difference in your responses dated August 9 & 10
Clarify whether mgmt extension from audit committee as per Aug 10 response
Or did Audit Committee not recommend results to board as per Aug 9 response?
In Aug 10 response, details of "Certain Matters Not Closed" not provided
Provide exact reasons for which audit committee has not approved results
Again ask you to give us date when board meet to consider results will be held