EPACK Durable partners with South Korea's Bumjin to enter smart audio segment
EPACK Durable Limited has entered into a strategic joint venture with South Korea-based Bumjin Electronics Co. Limited to manufacture soundbars, Bluetooth devices, and TV speakers in India. The deal, signed on July 24, 2025, is expected to kickstart manufacturing operations by Q3 FY26 and target a 30% market share in the segment.
The partnership aims to leverage EPACK's large-scale manufacturing and Bumjin's expertise in speaker technology to develop AI-integrated, high-performance audio products. The collaboration also supports EPACK's plan to diversify beyond room air conditioners and into the broader smart consumer electronics space.
EPACK Durable's MD & CEO Ajay DD Singhania said this alliance will help strengthen India's electronics manufacturing capabilities while delivering locally built products that match global standards. Executive Chairman Bajrang Bothra added that the joint venture aligns with the company's long-term roadmap and could reduce India's 25% import dependency in speaker systems.
This collaboration is also expected to open up export opportunities while enabling the transfer of global best practices and advanced technologies into the Indian electronics ecosystem.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
Food distributor Sysco beats quarterly expectations as US demand improves
-Packaged and fresh food distributor Sysco beat analysts' estimates for fourth-quarter revenue and profit on Tuesday, helped by improvement in its U.S. operations. The company, which supplies to chains such as KFC and Subway, has been grappling with an uneven recovery in restaurant industry traffic as looming economic uncertainties prompted consumers to increasingly cook meals at home. Sysco's U.S. foodservice segment, its largest business, posted sales of $14.76 billion during the quarter ended June 28, up 2.4% over the year earlier. The segment had seen a 0.7% increase in the preceding quarter. The company is also trying to cut costs through measures such as renegotiation of supplier contracts to procure raw materials at lower prices. To lower shipping expenses, it has introduced programs such as "Sysco-to-go", which requires customers to pick up orders directly from its stores. On an adjusted basis, it earned $1.48 per share during the fourth quarter, beating analysts' average estimate of $1.39 per share, according to data compiled by LSEG. Sysco's total sales rose 2.8% to $21.14 billion, also ahead of the estimate of $21.03 billion. The Houston, Texas-based company forecast fiscal 2026 adjusted earnings per share to be between $4.50 and $4.60. Analysts were expecting a profit of $4.67 per share. The company's shares were down 3% in early trading. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12 minutes ago
- Yahoo
P&G to increase prices in part due to tariffs as shoppers remain cautious and delay purchases
NEW YORK (AP) — Consumer products giant Procter & Gamble offered an annual earnings outlook that was below analysts' projections and said it would raise prices on about a quarter of its products in the U.S. in part due to higher costs from President Donald Trump's tariffs. The assessment delivered Tuesday comes a day after the Cincinnati-based maker of such products as Crest toothpaste, Tide detergent and Charmin toilet paper, named Shailesh Jejurikar, currently chief operating officer, to succeed Jon Moeller as the company president and CEO, effective Jan. 1, 2026. Moeller, who has been at the company's helm since November 2021, will become P&G's executive chairman. The price increases, which will be implemented starting next month, will be in the mid-single digit percentages and will also be combined with improved features in the products, P&G's Chief Financial Officer Andre Schulten told reporters on a call on Tuesday after the release of its fiscal fourth-quarter results. In April P&G said it was doing whatever it could to reduce higher costs from Trump's expansive tariffs, from shifting sourcing to changing formulation to avoid duties. Back then, Schulten told reporters on a call that the consumer products giant still would likely have to pass on higher prices to shoppers as early as July. P&G on Tuesday estimated that tariffs will increase its costs by about $1 billion before tax for fiscal 2026. The price increases come as P&G said its consumers have become more cautious, digging deeper into their pantry inventory before going on a shopping trip, focusing on larger pack sizes at clubs and focusing on deals. 'The consumer clearly is more selective in terms of shopping behavior in our categories, and we see a desire to find value,' Schulten told reporters Tuesday. But Schulten believes that when price increases are combined with improved features on products they resonate with customers. He declined to give specifics but noted that with its baby care brand Luvs, the company boosted prices while making some improvements a few months ago, and it was able to increase market share. P&G reported net income of $3.62 billion, or $1.48 per share, for the quarter ended June 30. That compares with $3.14 billion, or $1.27 per share, in the year-ago period. Analysts were expecting $1.42 per share, according to FactSet analysts. Sales rose to $20.89 billion, in line with what analysts predicted. That was up from $20.53 billion in the year-ago quarter. For the current year, P&G expects earnings per share in the range of $6.83 to $7.09. That was below the $7.23 per share that analysts predicted. The company expects annual sales to be up anywhere from 1% to 5% for the year. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
12 minutes ago
- Yahoo
UPS Withholds Outlook on Market Upheaval After Mixed Quarter
(Bloomberg) -- United Parcel Service Inc. declined to provide earnings guidance as it struggles to get a handle on volatility in the market, underscoring the challenges for the courier's effort to reconfigure its network and revitalize its business. Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy An Abandoned Art-Deco Landmark in Buffalo Awaits Revival The company said Tuesday that it would not give a revenue or operating profit forecast for the full year 'given the current macro-economic uncertainty.' UPS offered limited predictions around capital expenditures and dividend payments in 2025, and said it still expects $3.5 billion in expense reductions from its ongoing turnaround plan. The hazy outlook suggests a rebound remains out of reach and extends the uncertainty around UPS' business after the company said in April it wouldn't update prior expectations. While many companies suspended guidance early this year due to volatility stemming from President Donald Trump's trade policies, a number of those outlooks have been restored more recently. 'The overall US economy demonstrated continued resilience, but our sector, specifically the US small package market, was unfavorably impacted by US consumer sentiment that was near historic lows,' Chief Executive Officer Carol Tomé said on a conference call to discuss quarterly results. The Atlanta-based courier is struggling to recapture the volume it experienced during the early years of the pandemic, when consumers turned to online shopping while stuck at home. The comedown, exacerbated for UPS by the threat of a union strike that sent some customers to rival firms, has proven stubborn thanks to weak demand across the economy. The company is also grappling with deep-rooted issues such as too much unprofitable volume and high cost structures. Adjusted earnings in the second quarter were $1.55 a share, UPS said in a statement, narrowly missing the $1.56 average of analyst estimates compiled by Bloomberg. Package revenue $14.08 billion was better than expected. UPS shares fell 6.6% as of 9:36 a.m. in New York, the most intraday since April 3. The stock tumbled 19% this year through Monday's close, while the S&P 500 Index gained 8.6%. 'Sentiment was decidedly negative heading into' earnings, wrote JPMorgan analyst Brian Ossenbeck. 'The results and lack of guidance will do little to change that at this point.' To solve some of its woes, UPS has said it's excising more than half of its Amazon business, which represented as much as 11.8% of UPS' total revenue last year. As it pulls away from its largest customer, UPS is focusing on shipments that bring in higher margins than low-value e-commerce parcels. To reorient around smaller volumes, UPS is closing and consolidating facilities and automating them, as well as reducing headcount. Earlier this month the company offered its first-ever voluntary separation agreement to full-time union drivers. The offer includes $1,800 per year of service with a minimum payout of $10,000 for drivers to leave the company. The buyout reflects the unprecedented moment that UPS finds itself in. After more than a century of continual growth, the company is now seeking to slim down its delivery network, and with it, its ranks. While UPS focuses on internal efficiencies, there is less the company can do about trade policies affecting its business. New tariffs, especially the end of the de minimis exemption allowing certain imports into the country duty-free, hit the company's most profitable trade lane, reducing average daily volume between the US and China by 35%, a bigger hit than the company had expected, Chief Financial Officer Brian Dykes said on a conference call with analysts. Another miscalculation adding to UPS' costs in recent months was the decision to break away from a partnership with the US Postal Service in which the company handed off packages to the agency for pricey last-mile deliveries. UPS brought those deliveries in house this year, and found that the cost was higher than expected. Tomé told analysts Tuesday that the company has 'reengaged' with the Postal Service, coinciding with new leadership at the agency. (Updates shares, adds CEO, analyst comments from the fourth paragraph.) Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts Elon Musk's Empire Is Creaking Under the Strain of Elon Musk ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
