Budget: Indian mobile handset industry wants ecosystem for domestic manufacturing, exports

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

budget 2022, mobile handset industry, pli scheme, smartphone, budget expectations, handset makers

The mobile handset industry has seen a gradual movement towards higher priced smartphones, pushing up average selling price (ASP) to Rs 17,800, from Rs 14,600 a year ago. And more of an upward movement is expected this year too. India, the world’s second-largest handset market, is dominated by Chinese players such as Xiaomi, Vivo, Oppo & Realme, along with Samsung. There is scope for more as it still has some 350-400 million feature phone users who can be upgraded to smartphones. The local mobile phone assembly has picked up significantly, backed by the government’s production-linked incentive (PLI) scheme —with Apple and Samsung leading the fray. The industry wants an ecosystem to push exports and support the resurrection of home-bred brands. Devina Sengupta reports

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

BUDGET RECOMMENDATIONS

  1. Enhanced credit: guarantee of Rs 1,000 cr for domestic companies that have applied for PLI
  2. GST on mobile phones should be lowered to 12% from 18%
  3. 20% custom duty on high-end phones may be continued, but maximum pegged at Rs 4,000 per device
  4. More PLI schemes to boost fabs, wearables, PCBA* manufacturing
  5. Rationalisation of tariffs to build a competitive export oriented ecosystem
budget 2022, mobile handset industry, pli scheme, smartphone, budget expectations, handset makers
Agencies

IMPACT OF DUTIES ON COMPONENTS

  • CHARGER: High duties have pushed charger sector into degrowth
  • PCBA: 2.5% duty on some parts of PCBA manufacturing is unsettling
  • POWER BANKS: Withdrawal of concessional duty of 5% on lithium-ion cell, used to make power bank, will be detrimental
  • TRUE WIRELESS STEREO: Duty hike will kill the sunrise sector, up overall prices of manufacturing

(*PCBA: printed circuit board assembly, Source: ICEA)

News Related

OTHER NEWS

India summons S Korean envoy to deliver strong message on Kashmir

India has summoned South Korean ambassador here to convey strong message on the unacceptable social media post by Hyundai Pakistan. It was highlighted to him that this matter concerned India’s ... Read more »

SC asks NEET-PG-22 aspirants to make representation to Govt for extending deadline for internship

Supreme Court The Supreme Court on Tuesday asked the MBBS students seeking extending one-year internship deadline beyond May 31, criteria for aspirants for National Eligibility-cum-Entrance Test (NEET)-PG-22, to make a ... Read more »

Hyundai controversy: South Korea foreign minister expresses regret

South Korea’s Foreign Minister Chung Eui-Yong in a call with Indian external affairs minister S Jaishankar “expressed regret” after the Pakistan arm of automobile company Hyundai posted controversial remarks on ... Read more »

2008 Ahmedabad serial blasts case: Gujarat court convicts 49 accused, acquits 28 others

Representative image A special court on Tuesday convicted 49 accused in the case of Ahmedabad serial blasts in 2008 in which 56 people were killed and over 200 suffered injuries. ... Read more »

Protests for and against 'hijab' intensifies in Karnataka; Minister says don't give opportunity to use police force

As protests for and against the ‘hijab‘ intensified at colleges in different parts of Karnataka, state’s Home Minister Araga Jnanendra on Tuesday while appealing for peace said no one should ... Read more »

Strong earnings support European bourses; BP profit shines

European shares extended gains on Tuesday after the European Central Bank chief eased concerns around faster monetary policy tightening this year, while investors also found comfort in a positive corporate ... Read more »

Dubai and India's financial regulators seek closer cooperation

Dubai’s financial regulator and India’s International Financial Services Centre Authority (IFSCA) have signed a memorandum of understanding to increase supervision, enforcement and oversight on companies with presence in both jurisdictions. ... Read more »

Australia shares surge 1% on mining boost, Macquarie's record quarter

Australia shares gained 1% on Tuesday to hit their highest level in more than two weeks, lifted by heavyweight miners on the back of surging iron ore prices and as ... Read more »

Tech pushes Nikkei higher even as U.S. CPI caution prevails

TOKYO: Japan’s Nikkei closed slightly higher on Tuesday, helped by tech stocks as investors snapped up beaten-down equities, even as caution prevailed ahead of U.S. inflation data due out later ... Read more »

Tamil Nadu Assembly again adopts anti-NEET bill; BJP stages walks out

The Tamil Nadu Assembly on Tuesday adopted again, the anti-NEET Bill, returned days ago by the State Governor RN Ravi. The resolution was adopted amid thumping of desks, and Speaker ... Read more »

2008 Ahmedabad serial blasts case judgement likely on Tuesday

A special court is likely to pronounce its judgement on Tuesday in the case related to the 2008 Ahmedabad serial bomb blasts that claimed 56 lives and for which nearly ... Read more »

Views of experts to be taken on vaccination for children below 15 years: Mansukh Mandaviya

(Representative Image) With reopening of schools raising concern over the safety of children below 15 years of age, Health Minister Mansukh Mandaviya on Tuesday said in the Rajya Sabha that ... Read more »

Budget Session | "If Congress wasn't there..," PM Modi's no-holds-barred attack on Opposition: Key Highlights

Prime Minister Narendra Modi on February 8 launched a scathing attack on the Congress party for obstructing development while criticising its previous governments for the Emergency of 1975, anti-Sikh riots ... Read more »

Views of experts to be taken on vaccination for children below 15 years: Mandaviya

With reopening of schools raising concern over the safety of children below 15 years of age, Health Minister Mansukh Mandaviya on Tuesday said in the Rajya Sabha that the government ... Read more »

Mumbai to be unlocked by the end of February: Mayor

Mumbai’s Mayor Kishori Pednekar on Tuesday said that all restrictions in the city will be lifted and Mumbai will be unlocked by the end of February, news agency ANI reported. ... Read more »

Renault crosses 8-lakh cumulative sales mark in India

French automaker Renault on Tuesday said it has crossed the 8-lakh cumulative sales milestone in India, in a decade of its presence in the domestic market. It also said that ... Read more »

HC gives 3 weeks to Maha ruling parties to reply on PIL against state bandh

The Bombay High Court on Tuesday gave three weeks to the Shiv Sena, Congress and NCP to file their affidavits in response to a PIL challenging the one-day bandh called ... Read more »

PM Modi's fixation with 'Namaste Trump' event led to COVID-19 spread in country: Nawab Malik

A day after Prime Minister Narendra Modi accused the opposition of scaring migrant workers into fleeing to their native states from Mumbai during the COVID-19 pandemic, Maharashtra minister Nawab Malik ... Read more »

SC refuses interim bail to SP leader Azam Khan

The Supreme Court Tuesday refused to grant interim bail to Samajwadi Party leader <a href="/tag/azam-khan“>Azam Khan for campaigning in the UP assembly polls. A bench comprising Justices L Nageswara Rao ... Read more »

Why this Jhunjhunwala stock is seeing rating downgrades

Rakesh Jhunjhunwala‘s portfolio bet Jubilant Pharmova is under pressure, so much so that the scrip has eroded half of investor wealth in the last one year. To add to the ... Read more »

Vaccine protection better maintained against severe COVID-19: Lancet study

(Representative Image) The vaccine-induced protection against SARS-CoV-2 infection wanes within a few months, but protection against severe COVID-19 appears to be better maintained, according to a study published in The ... Read more »

Eva Global Holdings to support Korean firms for Indian foray

An announcement of the memorandum of understanding signed between Eva Global Holdings and Federation of Indian Industry (Eva Global Holdings)Eva Global Holdings, a New York- and Seoul-based consultancy firm specializing ... Read more »

GS Retail 2021 net income up 409.2 pct to 786.9 bln won

SEOUL, Feb. 8 (Yonhap) — GS Retail Co. on Tuesday reported its 2021 net income of 786.9 billion won (US$657 million), up 409.2 percent from a year earlier. The company ... Read more »

GS Retail swings to loss in Q4

SEOUL, Feb. 8 (Yonhap) — GS Retail Co. on Tuesday reported its fourth-quarter net loss of 27.6 billion won (US$23 million), shifting from a profit of 5.4 billion won a ... Read more »

World lauded India's pandemic response: Everything PM Modi said in Rajya Sabha

Prime Minister Narendra Modi said that the world is appreciating the initiatives taken by India during the ongoing pandemic. In his reply to the debate on the motion of thanks ... Read more »

Samsung Biologics scoops up all 6 CMO Leadership Awards

Researchers work at Samsung Biologics’ Plant 3. (Samsung Biologics)Samsung Biologics has won the 2022 CMO Leadership Awards in all six performance categories of capabilities, compatibility, expertise, reliability, quality and service, ... Read more »

Poongsan Q4 net profit up 31 pct. to 44.1 bln won

SEOUL, Feb. 8 (Yonhap) — Poongsan Corp. on Tuesday reported its fourth-quarter net income of 44.1 billion won (US$36.8 million), up 31 percent from a year earlier. The company said ... Read more »

(3rd LD) LG Chem eyes 60 tln won sales by 2030 with green transition drive

(ATTN: ADDS closing share price at bottom) By Kim Seung-yeon SEOUL, Feb. 8 (Yonhap) — LG Chem Ltd., South Korea’s leading chemical maker, said Tuesday it aims to more than ... Read more »

Poongsan 2021 net profit up 222.3 pct. to 231.8 bln won

SEOUL, Feb. 8 (Yonhap) — Poongsan Corp. on Tuesday reported its 2021 net profit of 231.8 billion won (US$193.5 million), up 222.3 percent from a year earlier. The company said ... Read more »

Lotte Shopping remains in red in 2021

SEOUL, Feb. 8 (Yonhap) — Lotte Shopping Co. on Tuesday reported its 2021 net loss of 286.8 billion won (US$239.5 million), remaining in the red compared with the previous year. ... Read more »

Lotte Shopping remains in red in Q4

SEOUL, Feb. 8 (Yonhap) — Lotte Shopping Co. on Tuesday reported its fourth-quarter net loss of 517.4 billion won (US$432 million), remaining in the red compared with a year ago. ... Read more »

(2nd LD) LG Energy Solution turns to black in Q4 on strong EV battery sales

(ATTN: ADDS closing share price at bottom)By Kim Seung-yeon SEOUL, Feb. 8 (Yonhap) — LG Energy Solution Ltd. said Tuesday it swung to the black in the fourth quarter from ... Read more »

Should you buy Adani Wilmar now? Here's what analysts say

After a muted debut on the bourses, shares of Adani Wilmar saw some strong demand from the investors who wanted to pick a value stock at lower levels. Shares of ... Read more »

Adani Wilmar valued at up to $4.35 billion in market debut

BENGALURU – Edible oil maker Adani Wilmar rose as much as 8.5% to 249.5 rupees early on Tuesday as it debuted on the National Stock Exchange, valuing the firm at ... Read more »

Hyundai must be more forceful in apology: Piyush Goyal

The government has asked Hyundai Motors to be more forceful in its unequivocal apology, Union Minister Piyush Goyal said on Tuesday on the South Korean firm’s Pakistan partner tweet on ... Read more »

(2nd LD) LG Chem eyes 60 tln won sales by 2030 with green transition drive

(ATTN: RECASTS headline, lead; ADDS more details in paras 2-10; TRIMS throughout) By Kim Seung-yeon SEOUL, Feb. 8 (Yonhap) — LG Chem Ltd., South Korea’s leading chemical maker, said Tuesday ... Read more »

Budget Session: Anand Sharma of Congress, Subramanian Swamy of BJP among 19 Rajya Sabha members retiring in April

anand_sharma1_60945139 As many as 19 members of the Rajya Sabha – including five from the Bharatiya Janata Party (BJP) and six from the Congress – are due to retire in ... Read more »

Korean Air adopts palm vein verification for domestic boarding

A Korean Air passenger scans his palm at a boarding gate. (Korean Air)Korean Air customers flying on domestic routes can now pass through the boarding gate empty handed — as ... Read more »

Kakaopay remains in red in 2021

SEOUL, Feb. 8 (Yonhap) — Kakaopay Corp. on Tuesday reported its 2021 net loss of 32.3 billion won (US$27 million), remaining in the red compared with the previous year. The ... Read more »

Kakaopay remains in red in Q4

SEOUL, Feb. 8 (Yonhap) — Kakaopay Corp. on Tuesday reported its fourth-quarter net loss of 33.1 billion won (US$27.6 million), remaining in the red compared with a year ago. The ... Read more »