Shipment company

Shipment of Indian-made smartphones increases despite lockdowns in China

Amid lockdowns in China in the first quarter of 2022, shipments of Indian-made smartphones continue to grow. Smartphone maker Bharat FIH is closer to IPO, while makers eligible for the mobile phone PLI are still waiting to receive their cash incentive.

Locally-made smartphones in India are growing at 7% annually, with Oppo leading the way

According Search for counterpointIndian-made smartphone shipments increased 7% year-on-year to over 48 million units in Q1 2022. Top five manufacturers are Oppo (21.6%), Samsung Electronics (21.3%) , Vivo (11.7%), Bharat FIH (11.3%) and Dixon Technologies (8.6%).

Foxconn’s Indian subsidiary Bharat FIH gets IPO nod

The economic period reported that Bharat FIH, a subsidiary of Foxconn and the largest EMS provider in India, received approval on June 10 from the Securities and Exchange Board of India to raise INR 50 billion (USD 640 million) through a IPO, of which INR 25 billion will be raised through the issuance of new shares. The balance will be raised through a sale of shares by Wonderful Stars, one of FIH Mobile’s subsidiaries, based in Singapore.

Tesla’s Indian executive reportedly quits after entry plan scrapped

After more than a year of Tesla being unable to find common ground with the Indian government on import duty issues, Reuters citing unnamed resources reported that Manuj Khurana, the head of policy and business development at Tesla India and responsible for lobbying the Indian government to reduce import taxes on electric vehicles, has resigned.

India to hold 5G spectrum auction in July

According Reutersthe Indian government has announced a 5G spectrum auction to be held by the end of July, with the aim of starting 5G rollout by spring 2023. The three major telecom service providers, including Vodafone Idea, Bharti Airtel and Reliance Jio will participate in the auction.

India delays release of Make-in-India grants for smartphone makers

The economic period citing unnamed sources reported that due to “some errors” in the invoices submitted by Samsung Electronics, the Indian government is rechecking the figures, which has delayed the release of cash incentives for the qualifiers under the program. production-related incentives for large-scale products. manufacturing.