Electronics

Commerce dept plans mega global meet to boost exports in six product areas

The meet comes against the backdrop of merchandise exports hitting a 25-month low in November amid continued geopolitical tensions as well as a decline in petroleum prices

Micromax, Taiwan's Phison join hands to design storage chipsets in India

Electronics company Micromax and Taiwan's storage chip company Phison have set up a joint venture, MiPhi, to design and manufacture artificial intelligence-enabled storage chipsets modules locally, a senior official of the Indian firm said. Micromax Informatics Co-Founder Rahul Sharma told PTI that the company has started production at its Noida facility. "Phison is a leader in NAND controller and NAND storage technologies. We have partnered with them to set up a joint venture in India in which Micromax will have 55 per cent stake and 45 per cent will be with Phison," Sharma said. He said that the firm will focus on designing storage chipsets for servers which is a very important element for any country from both security and strategic perspective. "With this venture, we aim to bring down the cost of GPU by one-tenth... the lowest per token cost in the world. This will help us in disrupting the AI landscape not only in India but also in specific agreed-upon regions," Sharma said.

Siemens Gamesa sells power electronics biz to ABB for undisclosed amount

Siemens Gamesa on Wednesday announced selling its power electronics business to ABB which includes assets in India for an undisclosed amount. The business designs and manufactures converters, inverters and control cabinets for wind, solar and storage industries, Siemens Energy said in a statement. The generators business of Gamesa Electric is not included in the agreement and remains with Siemens Gamesa, it said. "Siemens Gamesa has reached an agreement to sell its power electronics business to ABB. The agreement includes the transfer of around 400 employees, two manufacturing plants located in Spain, as well as additional assets in the US, China, India and Australia," the company said. As part of the transaction, both companies have entered a long-term collaboration agreement through which ABB will provide power electronics to Siemens Gamesa turbines, both onshore and offshore. The transaction is expected to be closed in the second half of 2025 and is subject to regulatory approv

Alibaba to sell intime department stores for $1 billion amid restructuring

The deal comes as Alibaba looks to shift focus from its dominance in China's retail sector to its core e-commerce and cloud operations

South Korean giant Daewoo's TV pricing strategy to focus on value

5% higher than Chinese, but 8-10% lower than Korean competitors

India's electronics ambition faces hurdles, but there is a plan of action

What India needs is to replicate the Apple Inc model and get global giants to build scale in the country by focusing on not only the domestic market but also exports

Motilal Oswal midcap fund climbs 63% in year; adds jewellery makers' stocks

Chief Investment Officer Niket Shah said he's adding shares of companies that offer lower priced non-essential goods, such as jewelry and apparel, on expectations of increased spending

LG to set up new plant at Andhra, fears competition from parent entity

LG Electronics India has plans to set up a new plant in Andhra Pradesh to boost its manufacturing capacity in the country, though it also fears competition from its South Korean parent entity. Besides, it is increasing the sourcing of raw materials from the local market, which is helping it meet consumer demands and lower its inventory and related costs, allowing the company to competitively price the products, said LG in its DRHP filed with markets regulator Sebi. However, it also added that despite localisation efforts, there is a persisting reliance on foreign components and finished products, especially in the premium segment. "Key imports are primarily sourced from countries such as China, South Korea, and Japan, reflecting a strategic focus on enhancing product quality and technological advancement," it said. Moreover, dependence on its top-five suppliers and top-10 suppliers that contributed 21.45 per cent and 31.44 per cent to its total purchase of raw materials and ...

India's electronics exports may dominate trade negotiations with US

India's electronics exports, driving over 62% trade surplus, to dominate US talks

Govt scraps registration for some items under chip import monitoring system

The government has removed mandatory registration of certain electronic integrated circuits under the chip import monitoring system. Under the system, importers of these items would have to provide advance information in an online system for import and obtain a registration number by paying a specific amount of registration fee. "The requirement of compulsory registration under chip imports monitoring system has been discontinued with immediate effect," according to a notification of the directorate general of foreign trade (DGFT). The items included electronic integrated circuits, memories and amplifiers.

From chips to tourism, UP marks out sectors for support and growth

Awasthi said that CM Adityanath's dream is to make UP the most prosperous state of the country with its GSDP ahead of Maharashtra or any other

India to offer $4-$5 bn incentives to boost electronics, cut China reliance

India's electronic production has more than doubled in the last six years to $115 billion in 2024

Smartphone PLI scheme rings in record electronics exports, shows data

The momentum in electronics exports has been built due to the big push in exports through the smartphone production-linked incentive scheme

India's electronics sector threatened by 10 million skill shortage: Report

The electronics value chain is advancing rapidly, but bridging skill gaps is crucial to unlocking its full potential, a report has stated

Tata to buy majority stake in Pegatron for its iPhone plant in Tamil Nadu

Under the deal announced internally last week, Tata will hold 60 per cent and run daily operations under the joint venture, while Pegatron will hold the rest and provide technical support

CastNX Secures INR 23.22 Cr Investment from Arpit Khandelwal to Drive Power Electronics Innovation

Founded in 2020 by Ms. Sunita Tamboli and managed by Mr. Manoj Modi, CastNX has established itself as a leader in power electronics product development.

LG Electronics' FY24 revenue rises 7.5% to Rs 21,352 cr, profit grows 12.3%

Leading appliance maker LG Electronics India reported a 12.35 per cent rise in profit to Rs 1,511.1 crore for FY24, and its revenue from operations grew 7.48 per cent to Rs 21,352 crore, according to financial data accessed by the business intelligence platform Tofler. The company, which is not publicly listed, had posted a profit after tax at Rs 1,344.9 crore and its revenue from operations stood at Rs 19,864.6 crore for the financial year that ended in March, 2023. LG Electronics India's total income for FY24 increased 7.2 per cent to Rs 21,557.1 crore, while its revenue from other income sources registered a 16 per cent decline at Rs 205.1 crore. The pre-tax profit of the company, a wholly-owned subsidiary of South Korea-based LG Electronics, increased by 11.9 per cent to Rs. 2,037.1 crore. The total tax expense of LG Electronics India in FY24 rose by 11.36 per cent to Rs 526 crore as against Rs 472.3 crore a year ago. LG Electronics India's total expenses increased 6.73 per

India's goal should be to have 10-plus fabs by 2030: SEMI President & CEO

He shares insights on India's new strategy to establish itself as a major force in the global semiconductor industry

Voltas, Daikin, and Orient among 38 white goods PLI scheme bidders

According to Sanjiv, joint secretary, Department for Promotion of Industry and Internal Trade (DPIIT) the latest round will attract investment worth Rs 4121 crore

Samsung workers' strike still on at Chennai unit despite pay hike offer: Know why