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Appliances, consumer electronics industry hopeful of robust sales this festive season
The consumer electronics and appliances sector, which has already started on a positive note with Onam in August, saw sales growth in last couple of months owing to pent-up demand, but there is another element playing a role of a key driver, i.e. consumers are looking for a substitute for domestic help amid health safety concerns due to COVID-19.
It’s an early festive start for consumer electronics manufacturers, companies to lift output more than last year's
Companies said the acceler...
95% appliances now made in India; dependence on China for components not to go down soon: CEAMA
Consumer Electronics and Appliances Manufactu...
Reliance, Tatas control 20% of smartphone, electronics retailing; together notch up Rs 50,000 cr sales in FY20
While Reliance Retail grew its consumer electronics retailing business sales by 14% to Rs 44,625 crore in FY20 as per an investor presentation, Tata-owned Infiniti Retail Ltd which owns and runs the Croma chain reported sales of Rs 5173 crore which went up by 11% as reported in Registrar of Companies filings.
Consumer electronics, coal and pharma may shine as Make in India themes: Amish Shah
We are not very upbeat on discretionary stocks or the auto pack in general.
Big boom in electronics sales: The best August in the last five years
Leading companies said Independence Day sales on ecommerce marketplaces were “massive” and the return of consumer financing also helped. Companies estimate they grew sales by 25-40% in August from a year earlier while sequential sales growth over July is more than 20%.
Reliance terms reports of stake sale to Amazon speculative
Amazon was an investor in Future Group, whose retail business was acquired by Reliance late last month for Rs 24,713 crore. On September 9, RIL announced the divestment of 1.75 per cent stake in the retail arm to private equity firm Silver Lake Partners for Rs 7,500 crore.
Consumer electronics industry sales may fall 50% in Q1 due to lockdown: Panasonic
Having suffered an unprecedented sales decline of 6-7 per cent in 2019-20, the industry will be up against challenges in both supply and demand sides due to the coronavirus pandemic, Panasonic India and South Asia President and CEO Manish Sharma said.
Dishwashers, refrigerators, trimmers, large screen TVs becoming preferred appliances
Many companies, including Samsung, Panasonic, Sony, Whirlpool of India and BSH Home appliances, in the country are getting enquiries from people confined in their homes about such products.
InnoVen Capital invests Rs 25 crore in boAt
boAt's product range has expanded to include an extensive catalogue of headphones, earphones, wearable, speakers, travel chargers & premium cables.
Smooth Sale-ing for Chinese brands, clock double-digit sales growth during Amazon, Flipkart events
Industry executives said several products of prominent Chinese brands have stocks running out, including offline. Brick-and-mortar retailers and said it had been business as usual as far as Chinese brands were concerned. “There has been no impact on sales of the Chinese brands,” said a senior industry executive.
Bigger & Better: Sales of large capacity appliances, big screen TVs soar up to 70% in July
Executives with top manufacturers such as LG, Samsung, Sony, Panasonic and Voltas Beko said they expect the trend to continue through the festive season.
Consumer sentiment improving, revival stronger among lower-income segments, small cities: Report
The revival is stronger among lower-income segments and lower-tier cities, said the report, which has covered around 3,000 respondents across metros and Tier I/II/III & IV cities from July 20 to August 2, 2020.
Import curbs on television sets: Companies may take licence route for big-screen models
The government on Tuesday re-introduced import curbs on TV sets and put them on the restricted list for the first time in 20 years with the objective of boosting local manufacturing. Companies will now have to apply for a licence to import TV sets.
Ajanta-Orpat group plans to double turnover to Rs 2,400 crore by FY25
The Gujarat-based company, which is also the world's largest wall clock manufacturer, expects revenue from its home appliances and fans division to be the key growth driver, contributing almost Rs 1,200 crore by fiscal year 2024-25. The company is also expanding its sales network and has also started its own e-commerce platform.