Month: May 2022

International semiconductor consortium ISMC will invest $3 billion (roughly Rs. 22,940 crore) in India’s southern Karnataka state to set up a chip-making plant, the state government said on Sunday. ISMC is a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor. US chip giant Intel has announced plans to acquire Tower. India’s
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Funds worth over Rs 5,551 crore of Chinese mobile manufacturing company Xiaomi India have been “seized” for violating the Indian foreign exchange law, the Enforcement Directorate said said on Saturday. The action has been taken against Xiaomi Technology India Private Limited. The company (also called Xiaomi India) is a trader and distributor of mobile phones
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Smartphone shipments globally dipped as much as 11 percent year-on-year in the first quarter of 2022, according to reports. This is the third consecutive quarter of annual decline by smartphone volumes in a row — amid component shortages that are impacting supplies in global regions. However, despite the dip in the shipments, Samsung has continued
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Apple on Thursday reported strong quarterly results despite supply shortages, but warned that its growth slowdown is likely to deepen. The company said it’s still struggling to get enough chips to meet demand and contending with COVID-related shutdowns at factories in China that make iPhone handsets and other products. Although initial results for the January-March
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