Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Intex Technologies, India’s No. 3 smartphone vendor, imported more smartphones than second-ranked Micromax Informatics did in April. The development could possibly be a pointer to Intex overtaking Micromax in the next few months, analysts said.
Intex imported 897,000 units of smartphones in April while Micromax imported 876,000 units, including 100,000 units for its subsidiary Yu during the month, according to data from market researcher Cybex Exim Solutions.
Micromax, however, said that import data as a surrogate for market sales has become irrelevant as local manufacturing has grown. “We can confirm that a significant part of our portfolio is locally produced. We have built capacity over the last couple of years in manufacturing facility where we can produce over two million devices every month,” a Micromax spokesperson said. Original post at ET Telecom