Industry News

Vivo readying to take on Apple and Samsung in India’s premium smartphone market

Smartphone maker Vivo is increasing its focus on the country’s premium segment to take on the likes of Apple and Samsung in the country. The company, which is co-creating its premium phones with Zeiss, claimed to have grown 300% in the Rs 30,000 and above price segment in the past 12 months in the offline channel and expect the same growth trajectory even this year.

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‘Tesla puts India entry plan on hold after deadlock on tariffs’

The decision caps more than a year of deadlocked talks with government representatives as Tesla sought to first test demand by selling electric vehicles (EVs) imported from production hubs in the United States and China, at lower tariffs. But the government is pushing Tesla to commit to manufacturing locally before it will lower tariffs, which can run as high as 100% on imported vehicles.

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Vodafone to sell 2.4% in Indus via block deal; in talks with major shareholder to sell 4.7% more

In a filing to the LSE, the UK company said it and the Aditya Birla Group (ABG) intend to contribute towards an issue of equity share by Vodafone India (Vi). “Vodafone and ABG, the promoters of Vodafone Idea Limited (Vi), are committed to support Vi in its efforts to strengthen its balance sheet… Vodafone and ABG intend to contribute towards an issue of equity shares by Vi once the terms of such a capital raise have been evaluated and decided on by the board of directors of Vi,” it said.

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Airtel likely to raise up to Rs 5,000 crore via rupee bonds

Last September, Crisil Ratings had upgraded its long-term rating on Bharti Airtel’s bank loan facilities and debt programme to AA+/stable from AA/stable, reflecting an improvement in the telco’s operating metrics. The ratings firm said it expects a further improvement in the company’s overall credit risk profile in the near-to-medium term on the back of improving cash accruals helped by tariff hikes.

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Govt plans to merge BBNL with BSNL this month: BSNL CMD

“The government has taken a policy decision that BBNL is going to be merged into BSNL. This means all work of BBNL at the pan-India level is going to come to BSNL,” Purwar said at the All India Conference of AIGETOA on March 13. Referring to his meeting with the union telecom minister, Purwar said he had an hour-long meeting to this effect.

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Reliance Communications resolution professional seeks buyers for non-core assets

The winning bidder for RCom, UV Asset Reconstruction Company, and lenders have given in-principle consent to the RP to explore the sale of its unencumbered assets, said the people. The RP, Anish Nanavaty backed by Deloitte, will obtain a fresh valuation and hold an auction of the assets, similar to the process followed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, they said.

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