Business - March 3, 2024


Lenovo-owned handset principal Motorola that saw its India shipments declined a whopping 70 per cent year-on-year (YoY) in 2018, is re-energising its awareness on growing enterprise inside the online area, a critical business enterprise legitimate has confused.


A favourite player inside the low-priced and mid-rate segment in the you. S. A. Not-so-long-ago, Motorola’s telephone business has nosedived drastically in the wake of hard opposition coming from its Chinese rivals.

“Our current cognisance is to grow the enterprise in an online area wherein we see possibilities. We do not require any particular headcount to grow the enterprise. We perform in the dual channel — each offline and online –, and we might retain to have a robust partnership with Flipkart,” Prashanth Mani, Managing Director, Motorola Mobility India, instructed IANS.

According to Counterpoint Research, the smartphone emblem sunk from the sixth spot in 2017 to the 12th in 2018 inside the aggressive Indian marketplace.

Asked if the business enterprise changed into mulling to discontinue any precise Moto or Lenovo collection, Mani said: “Not specifically any collection, but there have been merchandise in sub-Rs. 10,000 category which we exited. Unless we see it profitable, we will not release in that category in India — it is the most important coverage.”

Is the handset maker looking to make India an export hub?
“We are not saying that we are looking to export from the profitability point of view however, deliver chain efficiencies are continually vital. Firstly, we wanted to have the possibility to export merchandise outside India,” said Mani.

In April, there have been reviews that the handset manufacturer became looking to begin shipping gadgets to international locations in Latin America and the Asia Pacific vicinity.

“We have already exported a few products like Lenovo K8, Note and so on, out of India,” Mani knowledgeable.

The agency presently has one Surface-Mount Technology (SMT) line in India in Chennai. It settlement manufactures handsets in partnership with its global partner Flextronics from its Sriperumbudur facility close to Chennai.

The manufacturing plant at Sriperumbudur that employs nearly 4,000 human beings can produce approximately 12 million devices 12 months.

Shriram City Union Finance on Monday said that TPG determining to sell its stake in the enterprise became part of the business cycle and nothing greater than that.

Piramal Enterprises, as well as TPG, decided to go out Shriram Capital. A restructuring of organisation entities is likely on the cards.

“Shriram Capital has already positioned out a press word earlier that TPG is trying to exit. They were with us for near eight years, and it’s far herbal that they exit. Their horizon of investment cycle has come to shut, so there is nothing fantastic or new in it, it is simply nature of their funding that they exit,” said S Chakravarti, MD and CEO, Shriram City Union Finance.

On Piramal Enterprises’ exit, he said the best difficulty remains to be the task of locating suitors for the stake and modalities.

Talking approximately financials of the Shriram City Union Finance, he said the organisation has raised about Rs 2700 crore in the first sector. However, if one had been to compare the primary industry of final 12 months to this yr, there may be a tightening of liquidity.

“We do plan to hit the debt market once more in July and also are planning to issues a few foreign places bond problems and now have a pipeline of close to Rs 4000 crore proposals with the banks. So not overly worried approximately liquidity,” he said.

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