Airtel-Alphabet Deal on Laser Tech Faces Challenges
Bharti Airtel’s plans to use Google parent Alphabet’s laser internet technology, Taara, to support its 4G and 5G operations in India, has encountered difficulties, the Economic Times reported. Field trials have reportedly shown that the technology, which uses light beams to deliver fast broadband, may not work efficiently in inclement weather, especially in rural and hard-to-reach areas. This could impact the mobile broadband experience for users. Airtel is said to believe that more extensive joint field trials are needed to assess the technical and commercial viability of the technology.
Adani Power Raises Offer for Lanco Amarkantak Power
Adani Power has revised its offer to ₹4,100 crore to acquire Lanco Amarkantak Power, a thermal power company undergoing insolvency proceedings, Economic Times reported. This is the second improved offer by Adani Power within six weeks, indicating its strong interest in acquiring the distressed power company. The offer comes after 95% of lenders voted for a plan by the Power Finance Corp (PFC)-led consortium. The National Company Law Tribunal (NCLT) has not yet endorsed PFC-led consortium’s ₹3,020 crore resolution plan, giving Adani Power a chance to pursue the acquisition.
Tata Motors Announces Price Hike for Commercial Vehicles
Tata Motors has announced a price increase of up to 3% for its commercial vehicles, effective January 1, 2024. The hike is to offset the residual impact of past input costs. The increase will be applicable across the entire range of commercial vehicles. Tata Motors’ decision follows similar announcements by other automobile manufacturers like Maruti Suzuki, Mahindra & Mahindra, Honda and Audi, who are also planning to increase vehicle prices in January due to rising input costs.
Sony India’s Growth Strategy
Sony India, led by Managing Director Sunil Nayyar, is optimistic about achieving a 15-20% growth in the fiscal year, driven by the trend of premiumization in the Indian TV and audio market. The company’s focus on premium televisions (55 inches and above) and audio products is expected to be key growth drivers. Sony India, a subsidiary of Japan’s Sony Corporation, reported a 31.8% increase in profit for 2022-23, with revenue up 23.1% to ₹6,353.74 crore. This growth marks a turnaround from previous revenue declines after Sony Corp exited the mobile phone and laptop business. The company’s strategy includes promoting premium televisions, especially large screens, and leveraging the popularity of OTT platforms and high-quality content.
ToysRUs’ Ambitious Plans for India
ToysRUs, which began operations in India this year, anticipates the Indian market becoming one of its top five globally within the next 4-5 years. Stanley Silverstein, chief commercial officer at WHP Global, and Nitin Chhabra, CEO of Ace Turtle, express confidence in the Indian market’s dynamism and potential for the toy retail chain. ToysRus, owned by WHP Global, operates in partnership with Ace Turtle and Flipkart in India. The company’s strategy includes adapting to India’s Bureau of Indian Standards (BIS) norms, leading to increased procurement of toys from India, including high-end products. This shift aligns with the “Make in India” initiative and reduces reliance on imports. ToysRus plans to expand its presence with 75 new stores in three years, focusing on store sizes of 8,000-10,000 square feet, to capitalise on the growing demand for quality toys in the Indian market.
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