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Time of India
3 days ago
- Business
- Time of India
Muted Q2 on Wipro's cards; Bumper Apple (iPhone) harvest
Next Muted Q2 on Wipro's cards; Bumper Apple (iPhone) harvest Want this newsletter delivered to your inbox? Also in the letter: Wipro Q1 profit rises 11% YoY; CEO says AI now central to clients Snapshot: Net profit: up 11% YoY and down 6.7% QoQ to Rs 3,330 crore, and just ahead of expectations. up 11% YoY and down 6.7% QoQ to Rs 3,330 crore, and just ahead of expectations. Revenue: marginal rise to Rs 22,134 crore. marginal rise to Rs 22,134 crore. Interim dividend: Rs 5 per share; record date is July 28. Rs 5 per share; record date is July 28. Total deal wins: $4.97 billion, up 50.7% YoY in constant currency; large deals more than doubled to $2.7 billion. Strategic lens: Operating margin in the IT services business rose to 17.3%, up 80 basis points. Cash flow came in strong at Rs 4,110 crore, 123% of net profit. Outlook: Also Read: Apple's iPhone output in India hits all-time high What's happening: iPhone production in India jumped 53% year-on-year in H1 2025 to 23.9 million units, according to Canalys. Exports surged to $22.56 billion, up from $14.71 billion a year ago, according to CMR. India now accounts for 78% of Apple's iPhone exports, up from 53% last year, Canalys added. Foxconn drove most of the exports, while Tata Electronics, which now runs Wistron and Pegatron's local operations, accounted for 4 in every 10 iPhones shipped. What's next: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Paytm back at Rs 1,000 as UPI and lending drive rebound The stock crossed Rs 1,000 this week for the first time in six months. Contribution margin (excluding UPI incentives) rose to 54%, thanks to stronger financial services revenue. Paytm is now onboarding UPI users through Yes Bank, SBI, Axis, and HDFC Bank, following an eight-month freeze that ended last October. By the numbers: Net loss for Q4FY25 narrowed slightly to Rs 540 crore from Rs 550 crore a year ago. Revenue dipped 16% year-on-year to Rs 1,912 crore, mainly due to the exit from wallet operations. The stock is now trading close to its 52-week high of Rs 1,063. What to watch: Ixigo shares hit upper price limit after Q1 results By the numbers: Revenue: at Rs 314 crore, up 73% YoY. at Rs 314 crore, up 73% YoY. Net profit: rises 27% to Rs 19 crore. rises 27% to Rs 19 crore. Gross transaction value: surges 55% YoY to Rs 4,645 crore. Meta raids OpenAI again for elite AI talent Catch up fast: Wei was instrumental in developing the o1 model and helped pioneer chain-of-thought prompting, a key breakthrough in reasoning. Chung led training for Codex mini and worked on OpenAI's agentic reasoning tools. Together, they shaped some of OpenAI's most advanced research efforts and represent key IP, leaving the Sam Altman-led firm. Zoom out: Also Read: Zuckerberg to testify in $8 billion privacy trial Intel's layoff wave swells past 5,500 as AI race widens gap with rivals What's happening: Oregon: 2,932 jobs cut, nearly four times more than planned 2,932 jobs cut, nearly four times more than planned California: 1,935 roles gone, double earlier estimates 1,935 roles gone, double earlier estimates Arizona: 696 layoffs Why it matters: Between the lines: By the numbers: Wipro guided for flat growth in IT services after a muted June quarter. This and more in today's ETtech Top 5.■ Bulls pay Paytm a visit■ Meta's at it again■ Intel's axe hits moreSrini Pallia, CEO, WiproIn a sluggish IT spending climate, Wipro's topline stayed muted in the June quarter, but strong deal momentum offered a silver Srini Pallia flagged ongoing macro uncertainty but noted rising demand for cost efficiency and AI-led transformation. 'AI is no longer experimental, it's central to our clients' strategies,' he expects flat to 1% sequential growth in has emerged as a key pillar of Apple's global manufacturing strategy as tariff threats loom and supply chains increased shipments to the US in anticipation of a potential 26% tariff on India-made goods (imports), a move now postponed until August 1, as the two nations near an interim bilateral trade runs of the iPhone 17 are in progress at Foxconn's Tamil Nadu plant, indicating a simultaneous launch with China. Annual production is projected to exceed 42 million units in Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship opportunities. Investors are warming up to Paytm again as the company steadies itself after last year's regulatory jolt. UPI onboarding is back on track, and the lending business is showing GooglePaytm will report its Q1FY26 results on July 22. Analysts are watching for continued strength in merchant lending and loan Travenues Technology, the parent company of online travel aggregator Ixigo, went flying high after a strong show in the June quarter . Investors cheered its financial results for the June quarter as shares of the company closed at an upper limit of 20% during trade on isn't done raiding rival labs just yet. After a short breather, the Mark Zuckerberg-led giant is back at OpenAI's doorstep to shore up its new, high-stakes AI bet Wired reported that two senior OpenAI researchers, Jason Wei and Hyung Won Chung, are joining the Meta Superintelligence Lab, the group building AI systems that can surpass human has been dangling long-term packages worth up to $300 million to lure elite AI researchers. Wei and Chung follow a growing list of OpenAI veterans who have switched to Meta, Anthropic, and OpenAI isn't sitting idle. It is quietly restocking its bench , pulling in talent from Meta, Tesla, and other Valley CEO Mark Zuckerberg will take the stand in an $8 billion shareholder lawsuit related to the Cambridge Analytica scandal. This marks a rare moment of personal accountability for Big Tech's leading figures, including Sheryl Sandberg, Mark Andreessen, and Peter allege that Meta misled them about privacy risks and failed to comply with a 2012 FTC consent decree, resulting in billions in fines and global chipmaker Intel is doubling down on job cuts as it scrambles to stay relevant in the AI ageThe chipmaker is letting go of more than 5,500 staff in the US, up from earlier estimates of 4,000, according to state WARN filings. The deepest cuts are in California, Oregon, and Arizona:New CEO Lip-Bu Tan is aiming for a 20% workforce reduction to speed up decision-making and close the cap with Nvidia and admitted to staff that Intel is no longer a top-10 semiconductor player and that it had fallen behind in the high-stakes AI chip race. 'On training, I think it is too late for us,' he said, pointing to Nvidia's dominance with customers like Meta, OpenAI, and market cap is down to $103 billion, while Nvidia just hit $4 trillion valuation . Early response to Intel's next-gen chip, 18A, has been underwhelming.
Time of India
3 days ago
- Business
- Time of India
Apple set a new 'iPhone manufacturing record' in India in the first six months of 2025: Trump Tariffs, fears and ...
Apple has reportedly set a new milestone in India in the first six months of 2025. According to a report in Economic Times, the iPhone-maker has reportedly achieved the fastest ramp-up in iPhone production and exports from India in the first half of 2025 ever since it started smartphone assembly in the country in 2017. The move is said to be an attempt on Apple's part to diversify global production amid threat of higher US tariffs on Chinese imports. Quoting market researcher Canalys, the report said that iPhone production in India surged 53% on-year during the January to June period, reaching 23.9 million units. As per research firm Cybermedia Research (CMR), iPhone export volumes touched 22.88 million units in H1 2025, from 15.05 million a year earlier, an increase of 52%. In value terms, Apple exported $22.56 billion worth of iPhones from India in the first half of 2025, compared to $14.71 billion a year earlier as per CMR. "This shift reflects improving yield rates, line maturity, and Apple's growing confidence in India as a core manufacturing base," said Sanyam Chaurasia, analyst, Canalys. Donald Trump's 25% tariff threat to Apple Apple also faces a significant challenge in India as President Trump has warned the company about imposing 25% tariff on imported iPhones if they are not manufactured within US borders. "I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else," Trump wrote on Truth Social in May. "If that is not the case, a Tariff of at least 25% must be paid by Apple to the US." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Freehold Apartments in Dubai Starting from AED 675K Binghatti Developers FZE Explore Undo When Apple 'flew' 5 flights full of iPhones from India in flat 3 days Apple transported five planes full of iPhones and other products from India to the US in just three days during the final week of March. The urgent shipments were made to avoid a new 10% reciprocal tariff imposed by US President Donald Trump's administration that took effect on April 5. Apple's US warehouses are reportedly stocked for several months ahead with 'made-in-India' iPhones. Analyst said that stockpiling was aimed to allow Apple to maintain current pricing temporarily. 'The reserves that arrived at lower duty will temporarily insulate the company from the higher prices that it will need to pay for new shipments under the revised tax rates,' a source explained to TOI. In May, the US government later declared a 90-day pause on imposing reciprocal tariffs for most of its trading partners till July 9, which has since been extended to August 1. For India, the US has proposed a 26% tariff. Biggest iPhone manufacturers in India Foxconn (Hon Hai) and Tata Electronics are the leading manufacturers of iPhones in India. Last year, Tata Electronics took over operations of Wistron and Pegatron plants in the country. Apple iPhone 17 series manufacturing has reportedly started in India Apple is now reportedly planning to undertake simultaneous day-one manufacturing of the upcoming iPhone 17 in China and India. Apple iPhone 17 series is likely set for launch in September. Components for the iPhone 17 are reported to have already started arriving at the Foxconn plant in Tamil Nadu. "While not officially confirmed, the volume and type of these imports make it highly likely that trial production or early-stage assembly has commenced, months ahead of Apple's typical September launch window. This would mark a new benchmark with the earliest ever flagship ramp-up from India," Chaurasia said. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
3 days ago
- Business
- Time of India
Apple harvests record iPhone output from its India orchard
New Delhi: Apple achieved the fastest ramp-up in iPhone production and exports from India in the first half of 2025 ever since it started smartphone assembly in the country in 2017, in an attempt to diversify global production amid threat of higher US tariffs on Chinese imports. iPhone production surged 53% on-year during the January to June period, reaching 23.9 million units, according to market researcher Canalys. Volumes peaked in March when the company rushed to export the majority of India-made units to the US to avoid paying potential higher tariffs from April. Explore courses from Top Institutes in Select a Course Category PGDM Data Analytics others Finance MCA Product Management Operations Management Others Data Science Management MBA Artificial Intelligence Data Science Healthcare Design Thinking Leadership Digital Marketing Technology CXO Public Policy Cybersecurity healthcare Degree Project Management Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details The Donald Trump administration later declared a 90-day pause on imposing reciprocal tariffs for most of its trading partners till July 9, which has since been extended to August 1. For India, the US has proposed a 26% tariff. Both countries are currently in talks to finalise a trade deal. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo Another research firm Cybermedia Research (CMR) said iPhone export volumes touched 22.88 million units in H1 2025, from 15.05 million a year earlier, a 52% increase. In value terms, Apple exported $22.56 billion worth of iPhones from India in H1 2025, compared to $14.71 billion a year earlier, CMR said. Live Events As per Canalys, iPhone production in the first half of this calendar year crossed 30 million units including exports and for the Indian market. Production is expected to cross 42 million units achieved in 2024 by this year-end, it said. PhillipCapital said iPhone overall production crossed '94,643 crore in H1 2025, as compared to '57,328 crore in H1 2024, and '1,38,200 crore in 2024. Production, after peaking in March ('19,630 crore), slowed to '11,267 crore, still higher than '9,808 crore achieved in June 2024. Government officials said Apple's growth also underpins enhanced domestic value addition, ranging from 15-20% depending on the iPhone model. "The sharp rise in iPhone exports in H1 2025 highlights India's rapid emergence as a leading global manufacturing and export hub for Apple. This double-digit growth in both volume and value is emblematic of the success of India's Production Linked Incentive (PLI) schemes and Apple's ongoing successful supply chain diversification," said Prabhu Ram, VP- Industry Research Group, CMR. Foxconn (Hon Hai) and Tata Electronics are the leading manufacturers of iPhones in India, after Tata Electronics took over operations of Wistron and Pegatron plants in the country. In H1 2025, Foxconn led with over half the volume of iPhone exports, but Tata Electronics is fast catching up, contributing 4 out of every 10 iPhones exported from India, Canalys said. "This shift reflects improving yield rates, line maturity, and Apple's growing confidence in India as a core manufacturing base," said Sanyam Chaurasia, analyst, Canalys. Apple is now planning to undertake simultaneous day-one manufacturing of the upcoming iPhone 17 in China and India, which is due for launch in September. ET reported July 12 that components for the iPhone 17, albeit in small quantities, have started arriving at the Foxconn plant in Tamil Nadu, indicating the start of trial production of the upcoming iPhones. "While not officially confirmed, the volume and type of these imports make it highly likely that trial production or early-stage assembly has commenced, months ahead of Apple's typical September launch window. This would mark a new benchmark with the earliest ever flagship ramp-up from India," Chaurasia said.
Sinar Daily
5 days ago
- Business
- Sinar Daily
Samsung alone records growth in shrinking global smartphone market
According to data from market tracker Canalys, Samsung accounted for 19 per cent of the global smartphone market in terms of shipments. 15 Jul 2025 11:03am A visitor touches the Samsung Galaxy Z Fold7 smartphone at a Samsung store in Seoul on July 10, 2025. (Photo by Jung Yeon-je / AFP) SEOUL - Samsung Electronics Co. maintained its lead in the global smartphone market in the second quarter, supported by sales of its competitively priced Galaxy A models, industry data showed on Tuesday, Yonhap News Agency reported. According to data from market tracker Canalys, Samsung accounted for 19 per cent of the global smartphone market in terms of shipments. A visitor examines the Samsung Galaxy Z Flip7 smartphone at a Samsung store in Seoul on July 10, 2025. (Photo by Jung Yeon-je / AFP) iPhone maker Apple Inc. ranked second with 16 per cent, followed by China's Xiaomi Corp., which took up 15 per cent. Samsung was the only smartphone maker that posted an on-year growth of 3 per cent, while Apple declined by 2 per cent and Xiaomi remained unchanged. The global smartphone market recorded its first decline in six quarters, shrinking by 1 per cent amid a slower-than-expected recovery in consumer demand and economic uncertainties. However, the impact of the US government's tariff policies, coupled with healthy inventory levels of newly released devices, could impact the supply and demand in the market, Canalys said, leaving room for growth in the second half of the year. - BERNAMA-YONHAP More Like This
Time of India
5 days ago
- Business
- Time of India
PC penetration doubles since Covid-19 to 15% households in 2024
Academy Empower your mind, elevate your skills Household PC penetration in India has nearly doubled since the Covid-19 pandemic, rising to 13-15% in 2024 from 6-8% in 2019. Annual consumer PC shipments surged to seven million units from four million over the same period, IDC data sourced by ET said the market is undergoing a structural transformation beyond the temporary pandemic-induced surge, driven by refresh cycles, greater financial accessibility, and excitement around AI PCs in mid-tier prices. However, there is a lot of ground to cover, they added.'India's PC penetration continues to be way lower compared to developed economies and even our neighbour China,' said Bharath Shenoy, principal analyst at purchasing power in lower-tier cities is a challenge, but brands are trying to bridge the gap with offers, cashbacks, and no-cost EMIs, he said. With low penetration, there is enough scope to attract first-time buyers, and sentiment is positive, Shenoy sales had slowed down after the pandemic-induced surge. They have started to pick forecasts consumer PC shipments to grow 4.2% in 2026, up from 2.5% in 2025.'The market didn't collapse post-pandemic, it recalibrated,' said Ashweej Aithal, senior analyst at Canalys. 'We're now seeing steadier growth, with smaller cities sustaining demand and education cycles driving seasonal spikes.'Firms Like HP and Lenovo also see opportunity for greater penetration in smaller cities.'Digital adoption is accelerating in tier-II and III cities,' said Vineet Gehani, senior director, personal systems, at HP India . 'AI PCs could account for nearly 50% of the global market by 2027,' he of AI PCs is still nascent, but vendors are ramping up efforts to build awareness and reduce price friction through financing schemes, vernacular outreach, and influencer-led campaigns.'We're working with partners to offer AI PCs across price bands, supported by vernacular content and financing,' said Dinesh Nair, director, consumer business, Lenovo India . 'Some of our best-performing stores are in cities like Indore, Bhopal, Nashik, and Visakhapatnam.'According to Canalys, consumer PC shipments grew 16% year on year in the first quarter of 2025 (January-March), driven by aggressive promotions and strong March-end shipments across the second quarter, however, early indicators suggest a flat trend with growth largely concentrated in the commercial segment, Aithal and executives said gaming notebooks are in demand, with AI PCs also being key growth drivers going forward and upcoming festive sales set to give these a boost. They expect AI PCs to become a critical catalyst for first-time upgraders in smaller pandemic lockdowns made students and people in tier-II and tier-III cities more familiar with PCs, they don't use them on a daily basis, experts said.
