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…
While government is pushing to make India hub for electronics manufacturing with ‘Make in India’ programme, a report has said that exports of mobile phones are estimated to crash to zero in 2015.
“Mobile market grows by 32 per cent or to $12 billion in 2014 but imports take over to occupy three quarters of market. Domestic productions fell by 29 per cent. Exports may crash to zero in 2015,” according to the report, submitted by industry body Indian Cellular Association with the government.
Exports of mobile phone have been declining after touching a peak of Rs 12,000 crore in 2012.
The export crashed by 70 per cent from Rs 11,850 crore in 2013 to Rs 2,450 crore in 2014 and further estimated to be nil next year in absence of corrective measures, the report said. Original post at ET Telecom