{
}
LG Electronics has reported a profit margin of 10.42 percent for FY24, outperforming competitors like Samsung India and other household appliance manufacturers such as Voltas and Whirlpool. The company credits its superior margins to high operating efficiency and boasts one of the largest in-house production capacities in the industry.
Apple and Samsung face growth challenges in saturated Western markets, while India presents a significant opportunity with its low smartphone penetration and rising economic status. Chinese brands like Vivo dominate the Indian market, driving a shift towards premium devices as consumers increasingly view smartphones as essential investments. However, the complexity of global semiconductor manufacturing poses challenges for relocating production to India, especially amid geopolitical tensions surrounding Taiwan.
South Korean President Yoon Suk Yeol faces a leadership challenge as the opposition seeks to control the annual budget. Yoon's government proposed a 677.4 trillion won budget, aiming for a 3.2% increase to support a cooling economy, but the Democratic Party has cut 4.1 trillion won from the total.
Shares of major semiconductor equipment firms surged following reports that the U.S. is considering less stringent sanctions on China's chip industry. ASML and Tokyo Electron saw significant gains as the U.S. may limit the export blacklist for Chinese firms, potentially softening the impact on ASML's revenue from China. Analysts noted that excluding ChangXin Memory Technologies from the blacklist could lead to a smaller decline in ASML's sales than previously expected.
During his official visit to Italy for the G7 Foreign Ministers' Meeting, External Affairs Minister S. Jaishankar emphasized the need for a collaborative approach in the evolving Indo-Pacific landscape. He highlighted the significance of the Quad and outlined six key responses, including enhanced cooperation in maritime security, technology, and governance, to address regional challenges and promote sustainable development.
Asian markets are bracing for pressure as President-elect Donald Trump plans to impose trade tariffs on Mexico, Canada, and increase levies on China. Analysts predict that Asian currencies, particularly the Korean won and Thai baht, will underperform, while stocks in China, Mexico, and Canada, especially those reliant on US exports, are expected to decline.
The Department of Justice is urging Google to divest its Chrome browser to enhance competition in the search market, following a ruling that deemed Google a monopoly. The DOJ's proposed remedies also include preventing exclusionary agreements and requiring monthly reports on search ad auctions. While a breakup of Google is considered unlikely, the court may mandate changes to exclusive agreements, particularly with Apple.
Xiaomi has made a significant entry into the electric vehicle market, reporting $1.34 billion in revenue from "smart EV and other new initiatives" in Q3, a 52.3% increase quarter over quarter, with a gross profit margin of 17.1%. The company delivered 39,790 electric vehicles and claims to be the fastest new auto OEM to produce 100,000 vehicles, achieving this milestone in just 230 days. Its SU7 Ultra model boasts impressive specifications, including a 0-100 km/h acceleration in 1.98 seconds, positioning Xiaomi as a formidable player in the EV sector.
In FY24, major electronic firms in India, including Samsung and Apple, experienced a more than 7% year-on-year decline in imports, attributed to the 'Make in India' initiative and increased localization efforts. The combined import value of eight electronics companies fell to Rs 95,143 crore, marking the first decline in at least six years. This shift indicates a significant move away from the industry's traditional reliance on imports.
The U.S. Commerce Department has finalized a $6.6 billion subsidy for Taiwan Semiconductor Manufacturing Co. (TSMC) to boost semiconductor production in Phoenix, Arizona, marking a significant step under the $52.7 billion Chips and Science Act. TSMC plans to invest an additional $25 billion, expanding its total investment to $65 billion, and will produce advanced 2 nanometer technology by 2028. The agreement includes provisions for profit sharing with the U.S. government and a commitment to halt stock buybacks for five years.
Samsung
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
LG India Achieves Strong Profit Margins Amidst Competitive Consumer Durables Market
Voltas Limited
Haier
Blue Star Global, Inc.
Samsung
LG Electronics Inc.
Whirlpool S.A.
IND
Show more
04:31 09.12.2024
India Emerges as Key Market for Smartphone Manufacturers Amid Global Shifts
United States Dollar
Indian Rupee
Intel
OnePlus
Realme
NVIDIA Corporation
Samsung
Morgan Stanley
MediaTek Inc.
Apple Inc.
Oppo
Unisoc
Tesmec S.p.A.
Qualcomm Inc
Vivos Inc.
Tesla, Inc.
IND
TWN
Navkendar Singh
Neil Shah
Show more
12:00 07.12.2024
south korea budget battle challenges president yoon ahead of trump's return
South Korean Won
United States Dollar
Samsung
KOR
Yoon Suk Yeol
Donald Trump
Lee Jae-myung
Show more
08:10 02.12.2024
us considers softer chip sanctions boosting shares of semiconductor suppliers
09:21 28.11.2024
Jaishankar advocates for collaborative approach in evolving Indo-Pacific landscape
07:17 27.11.2024
asian currencies and stocks face pressure from trump trade tariffs
Thai Baht
Mexican Peso
South Korean Won
Canadian Dollar
Chinese Yuan
Apple Inc.
Samsung
CHN
Donald Trump
05:24 26.11.2024
doj calls for google to divest chrome browser in antitrust case
United States Dollar
Google Inc.
Alphabet Inc.
Samsung
USA
Merrick Garland
Jonathan Kanter
Show more
05:42 21.11.2024
Xiaomi Achieves Rapid Growth in Electric Vehicle Market with Impressive Sales
02:41 19.11.2024
decline in electronic imports marks shift towards local production in india
08:14 16.11.2024
us finalizes 6.6 billion subsidy for tsmc semiconductor production in arizona
New Taiwan Dollar
United States Dollar
Intel
Taiwan Semiconductor Manufacturing Co
Micron Technology, Inc.
Samsung
USA
TWN
CHN
Gina Raimondo
C.C. Wei
Donald Trump
Show more
11:48 15.11.2024
Trending
Subcategory
Corporate News
Startups & Entrepreneurship
Economic Indicators
Global Trade Developments
Market Analysis and Predictions
Countries:
Companies:
Currencies:
People: