India may see more local companies venture into the IC design sector as it develops its local semiconductor supply chain. Apple saw an improving performance in India when it encountered challenges elsewhere, including China.
India EPC giant L&T to venture into IC design
India-based EPC giant Larsen & Toubro announced at the latest earnings call that its board had approved a plan to set up a wholly-owned chip design subsidiary with an investment of INR8.3 billion (US$99.67 million), as the company believed it had strengths in design. It takes much investment to compete with established chipmakers in East Asia.
IESA: India has a rapidly growing huge market, needs to scale up IC design capabilities
PVG Menon, consultant to The India Electronics and Semiconductor Association, told DIGITIMES Asia that India's advantage lies in its significant domestic market, which is rapidly growing. He said If India were to build a semiconductor fab, it would need to attract large companies and offer policy incentives to encourage them to change their designs and use the Indian fab.
Corning's JV marks the takeoff of component manufacturing in India
US-based Corning and India-based Optiemus Infracom agreed to form a joint venture (JV) named Bharat Innovation Glass Technology, holding 70% and 30% of the stake, respectively. The JV, expected to begin operation by the end of 2024, will initially make finished cover glass sheets in India with an annual capacity of 30 million pieces and may progress to the original glass sheet manufacturing in the future after scaling up.
Apple posted a 48% jump in sales in India in fiscal 2023
Apple India posted a 48% jump in sales from INR333.81 billion to INR493.22 billion (US$5.92 billion), with its Indian net income reaching INR22.3 billion, up almost 80% from a year ago. By segment, 94.6% of Apple's Indian revenue was generated from sales of products, with the remaining coming from maintenance and services.
iPhone breaks shipment records in India, production expected to double in 2024
Counterpoint data shows that iPhone saw 34% growth in shipment year-on-year in the third quarter of 2023, reaching the 2.5 million units, the best-ever record for Apple. Analyst Kuo Ming-chi said iPhone production share in India will grow from 12-14% in 2023 to 20-25% in 2024.
PC vendors reportedly get import authorization from India
Reuters quoted two government sources saying that 110 companies, including Apple, Dell, Samsung, Lenovo, HP, Acer, IBM, Xiaomi, and Asus, were authorized to import notebooks, tablets, all-in-one PCs, ultra-slim form factors, and servers on November 1, when India began implementing the import management system for computers.
Wistron approved sale of Indian asset to Tata
Wistron officially announced the sale of its Indian facility to the Tata Group at a board meeting on October 27, where Wistron's subsidiary, SMS Infocomm (Singapore) and Wistron Hong Kong Limited, signed an agreement with Tata Electronics to sell a 100% stake in their Indian subsidiary, Wistron InfoComm Manufacturing (India), with a price tentatively estimated about US$125 million.
