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Hit by multiple factors such as rising fuel costs and global component shortages, Indian AC manufacturers said on Friday that they have no alternative but to pass off the burden to the consumers who will have to pay at least three to four per cent more on ACs next month. The Indian consumer electronics industry continues to face raw material shortage during the ongoing China-lockdowns and the Russia-Ukraine war. "The rise in cost of raw materials due to an increase in fuel prices along with component shortage, commodity price inflation, disruption in supply chain, and higher demand for air conditioning solutions for both B2B and B2C spaces is pushing brands to increase prices of the products," said Gurmeet Singh , Chairman and Managing Director, Johnson Controls-Hitachi Air Conditioning India Ltd. "Consumers can expect a 3 to 4 per cent rise in air conditioner prices in June," he said in a statement. The electronics sector has already been raising prices by 2-3 … [Read more...] about ‘Bad news’ for buyers: AC prices to go up, here’s why

NEW DELHI: Cloud-based digital solutions will enhance agility, empower hybrid workspaces and facilitate intellectual property (IP)-led innovation for the information technology-enabled services ( ITeS ) sector in India that has been at the forefront of digital transformation and enterprises, industry experts said on Tuesday. The Indian IT industry has grown by 13-14% and the consumption of technology has nearly grown by 7-8%. According to CP Gurnani , CEO and Managing Director, Tech Mahindra , the pandemic increased the rate of technology adoption since we had to go virtual. "As a business, you need to anticipate the technology evolution and ways to improve the process. The easiest way to do it is to evolve faster into business transformation, software-as-a-service (SaaS), metaverse, or employee experience management," he told Anant Maheswari, President of Microsoft India , in a fireside chat during the company's 'Future Ready Industry' event. Sanjeev … [Read more...] about ites: Cloud-based digital solutions to empower Indian ITeS sector: Experts

Vodafone Idea (Vi) and Ericsson claimed achieving a technology milestone during the ongoing 5G trials by demonstrating a peak download speed of 5.92 Gbps. The new speed record by Vodafone-Idea was achieved on a single test device during its 5G trials in Pune , Maharashtra, being conducted on a combination of mid-band and high-band (mmWave) 5G trial spectrum using Ericsson Massive MIMO radios, Ericsson cloud native dual mode 5G core for Standalone architecture and NR-DC (New Radio-Dual Connectivity) software. With 5G Standalone NR-DC software, Vodafone Idea can deliver latency-sensitive and high-performing applications such as AR/VR and 8K video streaming as well as new use cases for consumers and enterprises once it deploys 5G on its commercial network. Earlier during its 5G trials and use cases’ showcase in Pune, Vodafone Idea had demonstrated speeds of over 4Gbps. The new speed record of 5.92 Gbps has been achieved using the Govt allocated 5G spectrum for the … [Read more...] about vodafone idea: Vodafone-Idea records top download speed of 5.92 Gbps during 5G trials in Pune

IT company Coforge has reported 56.16 per cent jump in consolidated net profit at Rs 207.7 crore for the fourth quarter ended March 31, 2022. The company had logged a profit of Rs 133 crore in the same period a year ago. Revenue from operations during the quarter increased to Rs 1,742.9 crore from Rs 1,281.5 crore in the corresponding quarter of 2020-21. In the year ended March 31, 2022, profit increased by 45.23 per cent to Rs 661.7 crore from Rs 455.6 crore in 2020-21. Annual consolidated revenue from operations rose about 38 per cent to Rs 6,432 crore from Rs 4,662.8 crore at the end of 2020-21. Coforge in a statement said the firm expects around 20 per cent growth in fiscal year 2023. "FY22 was a landmark year for the firm and the performance data speaks for itself. Revenue grew 38 per cent, EBITDA grew 42 per cent and PAT grew 45 per cent. The firm is now focused on carving an accelerated growth path to the $2 billion revenue milestone," Chief Executive … [Read more...] about coforge: Coforge Q4 profit jumps 56% to Rs 208 crore

Samsung , India's most trusted consumer electronics brand, is holding 'Samsung Big TV Days' sale on its premium, big screen Neo QLED 8K, Neo QLED , QLED, The Frame & Crystal UHD TVs. These offers will be applicable at all leading consumer electronics retailer stores across the country. The limited period offer will provide customers with an opportunity to avail exciting offers as well as assured gifts on Samsung’s premium range of TVs till June 30, 2022. These irresistible offers include assured Galaxy S22 Ultra smartphone worth Rs 1,31,999 with 75-inch and above Neo QLED 8K TVs. Consumers will also get assured Galaxy A22 5G smartphone worth Rs 19,999 on the purchase of select models of Neo QLED, QLED TVs, 75-inch Frame TV and 75-inch & above models of Crystal 4K UHD TVs. Consumers purchasing 50-inch Neo QLED TV, 50-inch or 55-inch QLED TVs will also get a complimentary SlimFit Camera worth Rs 8,900. During this period, consumers can avail up to 20% … [Read more...] about samsung: ‘Samsung Big TV Days’: Company offers deals with Galaxy S22 Ultra, Galaxy A22 5G and SlimFit camera free

Till May 2022, only 20 smartphones have been launched priced under ₹10,000; that number was at 27 the same time last year. The Indian smartphone market is seeing a fundamental shift in the way it operates due to high input costs and changing consumer trends, with smartphone makers finding it hard to make and sell phones in the segment under Rs 10,000, which used to drive the highest volumes even till last year. The mass segment, under Rs 10,000, has seen a 15% decline in shipments in the first quarter of 2022, according to market trackers, resulting from the prevailing chip shortage, high logistics costs, and softening demand, which is driving the volumes up in the subsequent—Rs 10,000-20,000—price segment. As a result, the average selling price (ASP) has increased to Rs 16,000 in the first quarter, according to IDC India. Counterpoint Research also found the Rs 10,000-20,000 price band grew by 9% on-year in the quarter, the same time when the sub-Rs 10,000 … [Read more...] about Smartphone Market: Smartphone companies no longer keen on mass segment

Till May 2022, only 20 smartphones have been launched priced under ₹10,000; that number was at 27 the same time last year. The Indian smartphone market is seeing a fundamental shift in the way it operates due to high input costs and changing consumer trends, with smartphone makers finding it hard to make and sell phones in the segment under Rs 10,000, which used to drive the highest volumes even till last year. The mass segment, under Rs 10,000, has seen a 15% decline in shipments in the first quarter of 2022, according to market trackers, resulting from the prevailing chip shortage, high logistics costs, and softening demand, which is driving the volumes up in the subsequent—Rs 10,000-20,000—price segment. As a result, the average selling price (ASP) has increased to Rs 16,000 in the first quarter, according to IDC India. Counterpoint Research also found the Rs 10,000-20,000 price band grew by 9% on-year in the quarter, the same time when the sub-Rs 10,000 … [Read more...] about Smartphone Market: Why smartphone companies are no longer interested in the under Rs 10,000 segment

Mumbai: Celebrities should be “circumspect” while featuring in crypto currency-related advertising, since crypto is an unregulated product in India, the Advertising Standards Council of India (ASCI) said. ASCI is a self-regulatory body, and its guidelines are not legally binding. In case of a breach, the standards body has in the past published the names of those who have not adhered to the guidelines. It also escalates such cases to the relevant government regulator. “We have always maintained that celebrities need to do their due diligence on the claims they endorse. The Consumer Protection Act , too, lays down penalties for endorsers in case the ad they feature in is found misleading, and if they have done no due diligence,” said Manisha Kapoor, CEO of ASCI. “Since this (virtual digital asset or VDA) is a risky category, celebrities or prominent personalities who appear in such advertisements must take special care to ensure that they have done their due … [Read more...] about crypto: Celebrities must do their homework before endorsing crypto, says ad body