After Xiaomi lost its top position in India's smartphone market, the company launched a series of initiatives to fight back. Foxconn Group is scouting land for expanding manufacturing facilities in India.
Xiaomi to streamline product portfolio in India
According to reports from PTI and Bloomberg, Muralikrishnan B., the president of Xiaomi India, announced plans to streamline their smartphone product offerings in India and introduce a range of affordable 5G smartphones to claw back its market share in India.
FII reportedly considering invest US$200 million in Tamil Nadu
The Economic Times and Reuters, quoting separate sources, reported that FII was considering investing US$180-200 million in Tamil Nadu after an FII delegation led by CEO Brand Cheng met Tamil Nadu officials for the investment last week. It is reported that FII had a strong interest and was evaluating making various components, including components for mobile phones in the state.
Reliance Jio reportedly contemplating Google partnership for 5G smartphone
In 2021, Reliance Jio and Google collaborated to introduce the cost-effective 4G smartphone called JioPhone Next to persuade feature phone users to transition to smartphones and subsequently boost the Average Revenue Per User (ARPU) for Jio. Nevertheless, recent reports from Hindu BusinessLine indicate that Jio is currently uncertain about whether to launch the 5G smartphone in association with Google or as an independent release.
India's revision of EV incentive scheme may hurt sales
India earlier revised the incentives it offered to encourage EV adoption. Maxson Lewis, founder and MD of Magenta Mobility, told DIGITIMES Asia that the cessation of these schemes could indeed present a challenging landscape for EV startups, and not only would it diminish the financial incentives for customers and manufacturers, but it might also slow down the momentum that the EV industry has gained.
India reportedly rejects BYD's investment proposal to decouple from China
Days after BYD's proposal to invest US$1 billion to form a joint venture with India-based Megha Engineering and Infrastructure to make EVs and batteries in Hyderabad with an annual production capacity of 10,000-15,000 units of electric four-wheelers, unnamed officials told The Economic Times that the Indian government had rejected BYD's proposal, citing security concerns and existing rules that do not allow such investments.
India and Meta signed MoU for AI and emerging technologies
India AI, an independent business unit of Digital India, signed an MoU with Meta to create a collaborative framework between the two organizations. This collaboration focuses on Artificial Intelligence & Emerging Technologies, with a specific goal of enabling the Indian AI ecosystem to access and utilize Meta's open-source AI models.