Sony To Boost Manufacturing In India
Sony India has decided to step up manufacturing of televisions and smartphones in India instead of relying largely on imports, as it did earlier, says a report.
This is in view of the government’s move to increase taxes on overseas products. The company’s parent in Tokyo is in the process of finalising whether to expand third-party manufacturing or set up a plant in India, said a top Sony India official.
Adidas To Launch Stadium Inspired Outlets
The Indian unit of sportswear major Adidas is planning to open up to five stadium inspired outlets in the country this year for its performance wear products, says a report.
Adidas India, which opened its first stadium format store in India in Delhi recently, said that from 2019 onwards, all new stores opened by the company for performance wear products will be in this new format. This format is available globally in countries such as the US, UK, France, Japan and South Korea.
Bravo To Unveil Apparel Brand
West Indian cricketer Dwayne Bravo is set to launch his apparel brand in India, a market which has so far seen only a few Bollywood celebrities and a handful of athletes making a dent, according to a report.
Bravo, popularly known as DJ Bravo, enjoys a fan following in India too. The cricketer is looking at monetising on his popularity with the launch of his official merchandise under the brand ‘DJ Bravo 47’. The brand is co-owned by Bravo and Singapore-based celebrity apparel company 3 Big Dogs. Cornerstone Sports, which manages Bravo in India, is assisting in the marketing and distribution of the brand in India.
Honda Eyeing Double Digit Growth
Honda Cars India Ltd (HCIL) is optimistic over registering double-digit growth this financial year, reveals a report.
The Indian unit of the Japanese carmaker is also upbeat that tier 2 and tier 3 cities will play a key role in driving the growth with its second-generation Amaze. Currently, the company is getting a bigger contribution of its overall sales from the metros.
Jio Subscriber Push To Remain Strong
Reliance Jio Infocomm’s pace of subscriber additions is expected to remain strong, says a report.
This will be driven by its attractive high speed 4G data and feature phone offerings, Fitch Ratings said in a note. The agency said the 4G feature phone, Jio Phone, has the potential to support strong data consumption growth over the medium term, though it may result in lower average realisations in the near term for the Mukesh Ambani-owned company.
Britannia In Consolidation Drive
Indian biscuit maker Britannia is consolidating its global procurement operations to trim costs, reveals a report.
It also plans to capture synergies offered by a reformed tax environment that recognises a uniform producer levy. The dedicated manufacturing facility in Gujarat, which the company said was its first move towards setting up exports-only operations, will cost the cookies-maker 155 crore rupees. It will service global markets including the US, Africa and South East Asian countries.
VW May See Decline In Output
Volkswagen India is expected to post its first-ever decline in production in seven years, according to a report.
This is due to falling demand in the South American market which is calling for lower shipments to Mexico. The move is expected to put further pressure on passenger vehicle exports out of India which declined for the first time in over a decade in FY18.
Smartphone Market Set To Surge
The Indian smartphone market is expected to show double-digit growth in 2018, says a report, quoting analysts.
This is on the back of the popularity of budget phones and vendors increasing their focus to make phones as well as high-value components locally despite pressure on margins, said analysts at International Data Corporation (IDC) India. About 30 million smartphones were shipped in the January-March quarter, a growth of 11 per cent year-on-year, making it the strongest beginning in a year.