Rupee setback
The strengthening rupee has dealt a blow to the IT industry and its impact has been felt in the fourth quarter results.
It is expected to hit the industry further in FY18, says a report. IT firms need weaker currency to offset pressure from higher visa costs and lower pricing.
Micromax move
Micromax has tapped Flipkart to joint develop devices in the Rs 6,000 to Rs 12,000 price band, it was reported.
Micromax is hoping to regain its spot in the top five smartphone sellers in the country with this move. The new phones will be sold exclusively on Flipkart.
Sales boost
Passenger vehicles sales will increase by nine per cent for the fourth straight year, a survey reveals.
This reflects the buoyancy of the market despite the diesel ban and new emission rules, the Society of Indian Automobile Manufacturers (SIAM) said. Passenger vehicle sales rose 9.96pc to 282,519 units in March, taking the overall tally to three million for the first time for the fiscal year just ended, a report said.
Internet set-top box
Bharti Airtel is planning to introduce a new internet-based set-top box which will include streaming services like Netflix, YouTube and Amazon Prime.
The company is hoping that the services will help it to revive its direct-to-home (DTH) business and increase its customer base, a report said. This will be in addition to regular TV channels.
New retail strategy
Many smartphone brands are rejigging their strategy to take into account the rollout of the Goods and Services Tax (GST) rollout in July.
Brands like Xiamo, Asus, Motorola, ZTE and Huawei are planning to boost expansion into brick-and-mortar retail as the GST will narrow the prices of smartphones offline and online. The companies are planning to enter partnerships with retail firms, opening their own stores, creating separate models for offline and increasing investment, a report said.
Amazon price hike
Amazon India is charging more commission from firms selling online on its platform in a bid to cut its losses, a report said.
The increase applies to categories such as mobile phones, apparel and pet food, headphones, headsets, earphones among others.
BFSI top paymaster
The banking, financial services and insurance (BFSI) sector is expected to offer large increments to its staff, taking the top spot by ending the monopoly of the IT sector, a report revealed.
The TeamLease Jobs and Salaries Primer 2017 said that the BFSI sector has made a strong comeback after two stagnant years when increments were affected. The sector takes the top spot for the first time. The construction, automobile, real estate and industrial manufacturing sectors cut back on increments after demonetisation hit them.
Actor invests
Bollywood actor Jacqueline Fernandez has invested in a juice making company, it was reported.
The actor is India’s first celebrity ho has invested in a consumer product firm. Rakyan Beverages, which markets its juices under the Raw presser brand, is hoping to tap the actor’s popularity to boost its sales.
Twist to the taste
The world’s top three brewers are planning to collectively introduce several new beer brands in India to suit the tastes of its customers there.
The brewers hope this move will spark the revival of its sales in the country, particularly after a series of liquor bans is eating into its profits.
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