Search Result for : Samsung

The Dollar Business Bureau  With explosive growth recorded in data usage, led by lucrative offers from telecom operators such as Reliance Jio and Airtel, India is expected to become the second biggest 4G handset market by 2018, said a report by market research firm Counterpoint on Thursday.  With a projected installed user base of around 340 million 4G handsets, India will take over the US as the second biggest market. Currently having a user base of 150 million, India is placed just behind China and the US, said the report.  There is speculation that US would see the 4G installed base to rise 245 million from the current 225 million. India too is likely to witness an accelerated growth, led by rising usage ...

The Dollar Business Bureau Topwise Communication Co Ltd, China’s original device maker (ODM), will launch smartphones under its ‘Comio’ brand in India and is also planning an investment of Rs.500 crore in the coming two years to establish its presence in the Indian market. The company which is aiming to acquire 5% market share over the next three years, has to face competition from firms like Samsung, Micromax and Xiaomi in India. “We have been an ODM to many players, including those in India. There is a huge opportunity in India and we are keen on tapping that,” Sanjay Kumar Kalirona, CEO, Comio, told reporters. Comio will focus in the smartphones market within the price range of Rs.6,000-12,000. This is a prime spot taking ...

The Dollar Business Bureau US-based technology giant Apple Inc on Wednesday said it is starting initial production of iPhone SE in a ‘small number’ in Bengaluru and begin the shipping of its ‘Made in India’ phone to domestic consumers this month. “We are beginning initial production of a small number of iPhone SE in Bengaluru. iPhone SE is the most popular and  powerful phone with a four-inch display in the world and well begin shipping to domestic customers this month,” the company said. Earlier, in February, the government of Karnataka had announced the proposal of Apple to begin initial manufacturing process in Bengaluru. Priyank Kharge, IT Minister, Karnataka government had said on March 30 that Apple Inc would be ready to commence the assembling of iPhones in Bengaluru within a ...

The Dollar Business Bureau  Foxconn Country Head and MD Josh Foulger paid a courtesy visit to Commerce Minister Nirmala Sitaraman on March 21, 2017. Among other things, the two leaders discussed export incentives for mobile phones.  The manufacturing contractor for some of the biggest global brands like Apple expressed concerns over increased costs due to 2% import duty imposed on printed circuit boards. As a result, the domestic industry has suffered from uncompetitive prices in the manufacturing of feature phones and related accessories Foulger said. The industry had demanded a slew of measures for export incentivisation earlier in anticipation of the budget. The increase of credit under Merchandise Exports from India Scheme (MEIS) from the current 2% rate to 5% was one of the most voiced out wishes. Under MEIS, exporters are credited in ...

The Dollar Business Bureau Ongoing impeachment of South Korea's President Park Geun-hye has heavily weighed on the country's economy, as it shows a quarterly growth of 0.4% (October-December 2016), slowest in more than a year. Due to reducing consumption and weak consumer sentiment in a politically unstable environment, South Korea's GDP grew only by 0.4% during the last quarter of 2016, compared to previous quarter's growth of 0.6%. In comparison with the same period (October-December) in 2015, the GDP expansion has slumped from 0.7% to 0.4%. Not sounding very optimistic, Chung Kyu-II, Director, Bank of Korea, said, "It is hard to say the overall picture is positive. Weakened private consumption, which accounts for around half of the GDP, is most to blame.” Private consumption expanded 0.2%, in comparison with 0.5% in the previous quarter (July-September 2016) ...

The Dollar Business Bureau  South Korea's prosecutors are seeking an arrest warrant against the Samsung Group Chief, Jay Y Lee, accusing him of paying multi-million dollars bribe to a friend of South Korean President Park Geun-hye. It should be recalled that the President was suspended from her Presidential duties since Dec 9 when the National Assembly voted to impeach her. Lee Kyu-chul, Spokesman for the special prosecutor office, told reporters that investigators will also decide whether to seek arrest warrants against other Samsung Group executives at the same time as it makes a decision on Lee, named a suspect in an investigation into whether the country's top conglomerate paid bribes to pave the way for a 2015 merger of two affiliates. "We are considering all factors and ...

The Dollar Business Bureau Samsung Electronics Co. is facing a hard time recalling around 2.8 million washing machines in the U.S. due to reports that the top of the machine gets detached when used by the consumers.  The Korean company had announced a month ago that it was in talks with U.S. Consumer Product Safety Commission for potential safety issues with some of its washers. The U.S. Commission had earlier stated Samsung receiving 733 reports of washing machines witnessing “excessive vibration or the top detaching from the washing machine chassis”. There were also reported cases of nine-related injuries.    According to a statement released by Samsung, the company is open to providing free in-home repair of the machine or a rebate when buying ...

The Dollar Business Bureau Samsung India has announced its expansion plans in India and has decided to invest Rs.1,970 crore for doubling its manufacturing capacity at its Noida, Uttar Pradesh manufacturing facility by 2019-end. The company’s Noida plant will be used to export mobile phones and white goods. “In line with our commitment to ‘Make in India’ and living by our promise to ‘Make for India’, we are pleased to receive the Uttar Pradesh Government’s approval to invest in the state and expand our manufacturing base here in India,” said HC Hong, President and CEO, Samsung India. “A bigger and more robust manufacturing facility will help us address the needs and demands of our growing customer base across the country and the region,” he ...