Samsung may switch on TV production in IndiaSamsung is about to sign a deal with homegrown contract manufacturer Dixon Technologies to manufacture television sets up to 55 inches in screen size, sources said. These account for more than 85% of the Indian market. The company is evaluating options with other contract manufacturers to further expand local TV production in India, they added.
ITC acquires minority stake in FMCG vending machine start-upThe Kolkata-based conglomerate said this will strengthen presence of ITC's FMCG products in the emerging distribution channel of vending machines. ITC has said it will complete the acquisition within 12 months in an all-cash deal. The size of the deal is Rs 7.5 crore which will be paid in four tranches over a period of 12 months.
Xiaomi reports record sales in offline tradeThe company’s overall offline business grew by 70 per cent during this year festive season as compared to same period last year. The smartphone business in brick-and-mortar stores grew by 70 per cent year-on-year and over 50 per cent month-on-month, while the offline TV business grew by over 400 per cent year-on-year.
Chinese cousins help reduce 71% of Moto sales“Motorola lost in the sales channel strategy,” said Counterpoint Technology Market Research associate director Tarun Pathak. “Realme gave a strong competition in the online segment, especially in sub $200 (Rs 14,000) segment where Motorola had its strength. Apart from this, their organisation restructuring also had an impact,” he said.
Samsung to take Galaxy M smartphones offlineGalaxy M has been an online exclusive smartphone series, but Samsung has decided to take it offline as well, heeding to demand from offline retail lobbies for smartphone makers to curb launch of online exclusive models and offers since these hurt their business.
Government wants ecommerce companies to make kiranas part of their growth storyThis comes against the backdrop of groups such as CAIT and AIMRA complaining to the govt about online deep discounting and alleging that ecommerce marketplaces violated FDI norms during the festive season. The govt wants to address the concerns of small retailers over online discounting and see how both sides can work together to their mutual benefit.
Oppo, Vivo sales jump 67% in FY19On a standalone basis, Oppo’s sales went up by 80% at Rs 21,524.6 crore, while Vivo grew by 54% at Rs 17,201.79 crore in 2018-19. BBK Electronics also owns OnePlus and Realme smartphone brands whose India sales for FY19 are still not available. BBK Electronics is still not making money in India with both Oppo and Vivo yet to breakeven.
Electronics companies run into entry-level pileupWhile premium products like large screen televisions, frostfree refrigerators and fully automatic washing machines did sell in cities and large towns driven by plethora of consumer finance options and price cuts — sales of entry-level products which constitute the belly of the market — were a washout, several manufacturers said.
Smartphone brands issue trade advisories for pricing parityThe Confederation of All India Traders and the All India Mobile Retailers Association on Sunday alleged that brands are in league with ecommerce marketplaces to offer deeper discounts. CAIT said this was in violation of the Competition Act
Reliance set to bring back the ‘coolest one’ to IndiaReliance has signed brand licensing & distribution deal with Electrolux to relaunch Kelvinator refrigerator. Under the more than 10-year contract, Reliance will shortly relaunch the Kelvinator refrigerator and other appliances.
Ecommerce may soon lose ‘mobile’ exclusivityOffline retailers have been protesting against online exclusive smartphone models because consumers often buy them at lower prices. But now this could change as leading mobile brands are unlikely to launch any web-only models from January.
More stocks, discounts returning to shelvesThey are increasing promotional spends in the upcoming festive season by 10-15% over last year’s festive quarter and stocking up additional inventory, executives in some large FMCG companies told ET.