The Singapore-based electronics services manufacturing company Flextronics on Tuesday acquired 55 per cent stake in Hughes Software for about $226 million.
Flextronics, a provider of contract manufacturing services to electronics industry, has decided to pick up minority stake in SemIndia's $3 billion project to set up a chip manufacturing facility in Hyderabad.
Flextronics International has priced its open offer for 20 per cent of the paid-up equity capital of Hughes Software Systems at Rs 548 a share.
Hughes Software Systems Ltd shareholders have approved the change of name of the company to Flextronics Software Systems Ltd.
As many as 40 companies, including Dell, HP, and Lenovo, have applied for the IT hardware PLI scheme with a commitment to make personal computers, laptops, tablets, servers and other equipment worth Rs 4.65 lakh crore during the scheme period, an official statement said on Thursday. If all companies get selected under the scheme then the government will need to increase the incentive amount to Rs 22,890 crore against the budgetary allocation of Rs 17,000 crore, according to the note. "Total 40 applications have been submitted till the closure of the window on August 30.
Sony Ericsson, a leading Japanese-Swedish mobile handset maker, is all set to produce its mobile handsets in Sriperumbudur through manufacturing agreements with Flextronics and Foxconn.
Even as Left parties have demanded a review of the tax concessions provided to SEZs, the DoT has sought extension of excise duty exemptions to industrial units set up in telecom-specific SEZs.
With the spectrum auction now delayed till at least next May, the expected 5G orders for telecom equipment have not been sealed, the companies point out. Surajeet Das Gupta reports.
Hughes Software Systems Limited (HSS), a subsidiary of the US based Hughes Network Systems (HNS), announced yesterday that Flextronics
Nokia's Sriperumbudur factory is its largest in the world.
Mobile phone major Sony Ericsson will manufacture mobile phones in Chennai, a top company official said ion Wednesday.
A new plant in Chennai could help the PC maker catch up with rivals in a market that's the computer world's Next Big Thing.
The R&D centre would come up at Chennai, the company said.
By some measures, India is poised to become the next big market in private equity.
By 2010, there will be shortage of half a million professionals in India.
The landscape of the Indian software and services sector displays both stability and dynamism. While the top five companies - TCS, Infosys, Wipro, Satyam and HCL - have held on to their positions in the Nasscom list, others have gained or fallen back
The world's second-largest computer chip maker Advanced Micro Devices is planning to invest about $500 million in SemIndia's proposed chip manufacturing facility near Hyderabad.\n\n
Cellular handset maker Sony Ericsson on Wednesday said it was evaluating the possibilities of manufacturing in India but a final decision in this regard will be taken by its business partners to whom it has outsourced the production of mobile phones.
Today, Vachani's public-listed company, Dixon Technologies, has gone beyond manufacturing just television sets. Armed with private equity funding from Motilal Oswal eight years ago, it has transformed itself into a Rs 4,400 crore electronic manufacturing services major, which now straddles lighting products, home appliances, feature phones, LED bulbs, amongst others. A two-part series looks at how two home-grown manufacturers are leveraging the govt's production-linked incentive scheme.
One of Apple's suppliers, Salcomp, will invest Rs 2,000 crore over the next five years to make components at a Nokia plant in Chennai. The facility, which has been closed for nearly 10 years, will be revived and made operational from March 2020.
Lenovo Group Ltd said on Tuesday it was establishing a smartphone assembly unit in India.
Apple and Samsung are international players and should work as a team with domestic companies to transform India into a global powerhouse: IT Minister Ravi Shankar Prasad.
Overall mobile phone production was about 68 million in 2014, increased to 100 million in 2015 and 350-400 million in July 2016.
The Goqii fitness tracker is a wrist band that measures one's steps, calories burnt, distance travelled, and even tracks the sleeping patterns.
Tax problems and unfavourable WTO agreements are making Tamil Nadu's electronics corridor less attractive to companies.
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