Triumph Planning Six New Models
British superbike maker Triumph Motorcycles said it plans to launch six new products in India by June next year, according to a report.
The company, which has completed five years in India, also aims to grow its sales in the country by 10-12 per cent annually going ahead.
It would be a mix of new and facelifts of the current models. The company also intends to expand its sales network from the current 16 dealerships to 25 over the next 3-4 years.
GSK mulling Healthcare Business Merger
GlaxoSmithKline Plc (GSK) has confirmed it was mulling a merger of its consumer healthcare business, a report says.
This is part of a review of its Indian Horlicks nutrition business and other consumer healthcare nutrition products. GSK did not clarify who the unit could be merged with or provide further details.
Another report said that consumer goods group Unilever may look at merging GSK Consumer Healthcare with Unilever’s Indian unit HUL. Unilever emerged as the leading bidder in a tight contest for the Horlicks business, sources said.
Vivo Eyes Major India Push
Chinese smartphone maker Vivo plans to invest over 4,000 crore rupees on its second ‘Make in India’ phase, a report reveals.
This includes setting up a new plant, Vivo India director (brand strategy) Nipun Marya said. With this investment, Vivo’s smartphone manufacturing base in the country will become as large as its two facilities in China and one of the largest company-owned set-ups in India.
Marya said that Vivo India has received 169 acres close to its existing plant in the Greater Noida area of Uttar Pradesh, where it will set up the second facility.
Smartphone Sales Hit Record High
Smartphone sales for the Diwali festive season, from October 9 to November 8, grew a record 26% year-on-year, says a report.
Online channels selling half the devices, led by Xiaomi, Samsung and Realme, while Apple’s old and new iPhone models came a cropper, Counterpoint Research said.
Flipkart, Amazon and Mi.com’s series of online sale events offered huge discounts, no-cost EMI on debit and credit cards on top smartphones which led the growth in the channel, the research agency said. The top three smartphone brands – Xiaomi, Samsung and Realme – captured 57% of the overall Diwali festive season smartphone sales.
Passenger Cars To Cost More
Passenger cars and utility vehicles may get dearer in January with carmakers such as Toyota and Ford considering hiking prices, says a report.
This is on account of an increase in manufacturing costs due to rupee depreciation.
Toyota Kirloskar Motor (TKM), a joint venture between Toyota and the Kirloskar Group, said it is considering raising prices of its vehicles by up to 4% from January 1, while Ford India said it is looking at hiking vehicle prices by 1-3% due to an increase in costs on the the back of rupee depreciation.
Maruti Swift Reaches Key Landmark
Maruti Suzuki India said that its popular Swift car has reached two million sales landmark since its first launch in India in May 2005, according to a report..
Owing to its popularity, the carmaker has not only made changes in its interior and exterior over time, but also has launched its limited edition model a few months ago. Maruti Suzuki equipped the Swift with contemporary Auto Gear Shift (AGS) technology.
The convenience of AGS offered in the latest Swift avatar found quick acceptance and now contributes over 20% of Swift sales, claimed the company.
Telecom Firms Start Hiring Again
Telecom companies in India are once again into big-ticket hiring, says a report.
This means that stability is emerging in a sector that shed over 100,000 jobs in the past year alone.
Bharti Airtel and Reliance Jio Infocomm have put out mandates to recruit executives locally and overseas for salaries of as much as 2 crore rupees, search firms said, adding that they are also looking to fill middle-level positions.
IT Services Firms To See Better Margins
Indian IT services firms will see improvement in margins in the quarter to December despite rupee appreciation on the back of lower crude prices, say analysts, according to a report.
The analysts have factored in an average dollar rate of 71.5 rupees in the third quarter as against 70.7 rupees, to arrive at their estimates.
They are also looking at the rupee to stabilise at around 70 rupees against the dollar by December-end, which they will average out to 71.5 rupees for the quarter.