The government is pushing air conditioner manufacturers to significantly increase exports. This follows the Production Linked Incentive scheme. The goal is to make India a major AC exporter, competing with China and Thailand. India aims to export 15-16 million AC units in four years. Currently, exports are around 2 million units. The government is seeking industry input on export challenges.
India's traditional PC market (desktops, notebooks and workstations) grew 8.1 per cent year-over-year (YoY) in Q1 2025, with 3.3 million units shipped, a report showed on Monday.
Lenovo launched its first AI-powered PCs in China last May and followed that with a global rollout in September. CEO Yang Yuanqing has projected that AI PCs will account for a quarter of Lenovo's shipments by 2025, potentially reaching 80% by 2027.
Dixon Technologies anticipates that increased exports and backward integration will compensate for any potential decline in margins and volumes following the conclusion of the PLI scheme in FY26. The company expects smartphone production to rise to 60-65 million units by FY27, with a significant portion destined for North American exports.
The government has extended the implementation deadline for the mandatory quality control order (QCO) on specific electrical appliances to March 2026, following consultations with stakeholders. This decision aims to facilitate ease of doing business, providing additional time for domestic enterprises, foreign manufacturers, and micro-enterprises to comply.
Commerce and Industry Minister Piyush Goyal is considering extending the implementation timeline for the quality control order (QCO) on electrical appliances following industry concerns. Stakeholders highlighted issues like supply chain complexities, testing infrastructure gaps, and certification challenges. Goyal urged the industry to propose solutions for expanding testing facilities nationwide to ensure smooth QCO rollout.
Crompton Greaves Consumer Electricals Ltd reported a robust 28.7% increase in consolidated net profit, reaching Rs 171.74 crore in the March quarter of FY25, with revenue up by 5.08% to Rs 2,060.64 crore. The electric consumer durables segment saw a rise, while lighting products experienced a slight dip. Subsidiary Butterfly contributed significantly with an 18.13% revenue increase.
Electrical goods manufacturer V-Guard Industries Ltd on Wednesday reported a 19.6 per cent increase in consolidated net profit to Rs 91.13 crore during the March quarter.
Samsung Electronics will acquire FlaktGroup for $1.68 billion. This acquisition aims to meet the cooling demands of data centers. The deal is expected to close this year. Samsung seeks growth in AI chips and other sectors. Investors had hoped for larger deals involving Samsung's chip business. The company is expanding into consumer audio, cooling, heating, medical, and robotics.
Indian firms anticipate stricter regulations for partnerships with Chinese companies due to China's support for Pakistan. This situation casts doubt on pending deals, including Haier's stake sale in its Indian operations. Government officials suggest Chinese entities will only be allowed small stakes in JVs under the PLI scheme for critical components, potentially impacting investment plans.
Butterfly Gandhimathi Appliances witnessed a significant profit surge in FY25, reporting Rs 32.5 crore compared to Rs 7.4 crore last year, despite a 7% revenue dip to Rs 864.5 crore. This turnaround was fueled by cost optimization and enhanced efficiency. Q4 FY25 saw a net profit of Rs 9 crore, a stark contrast to the previous year's loss.
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