Latest news with #Defy
Daily Maverick
7 days ago
- Business
- Daily Maverick
Anti-dumping investigation: top loader prices set to rise
South Africa's washing machines are about to get more expensive, and Defy is hoping that's good news. The Department of Trade, Industry and Competition (DTIC) has endorsed the defence of the fully automatic top-loading washer hill. What began as a complaint lodged by Defy Appliances has now become a formal anti-dumping investigation and, soon, the likely imposition of provisional duties against imports from China and Thailand. It looks like a straightforward response to cheap foreign goods flooding the market, hammering local manufacturers and threatening jobs. But it is simultaneously a complex web of strategic policy, protectionism, precedent, and unintended consequences in the spin cycle. A heavy load The saga officially began in October 2024 when Defy asked the International Trade Administration Commission (Itac) to investigate imports of top-loading washers (10-17kg capacity) from China and Thailand. Defy alleges dumping margins of 21.48% for Chinese products and a whopping 67.11% for Thai machines, figures based on SA Revenue Service import data and overseas retail prices. It claims these imports have undercut local prices, slashed profits and forced an inventory build-up – a sign of unsold stock piling up in warehouses. In Defy's view, unless something is done, the injury will get worse as global overcapacity looks for cheap destinations such as South Africa. Itac seems to agree, at least enough to say a prima facie case exists. Provisional duties are expected by the end of 2025. Caught in a whirlpool Hisense South Africa was named alongside Chinese giant Midea in the Government Gazette, but the company says there's nothing sinister at play. 'Hisense SA categorically affirms that it has never been complicit in facilitating any form of alleged dumping, nor has it acted in contravention of South African trade laws or ethical business practices,' Luna Nortje, deputy general manager at Hisense SA, told Daily Maverick. 'We are fully committed to fair, transparent trade and continue to work closely with all relevant regulatory bodies to ensure full compliance.' 'These are standard processes designed to ensure market fairness and in no way imply unethical practice,' she said. Hisense's local credentials are significant. Since setting up shop in 1996, the company has invested more than R350-million into its Atlantis manufacturing plant, which today produces up to 500,000 refrigerators and a million televisions annually – not just for South Africa, but for export to more than 10 African countries. In fact, Nortje said Hisense was exploring further localisation: 'We are currently in the process of assessing the viability of manufacturing chest freezers at (the Atlantis) facility.' That said, she acknowledged the consumer pain. 'These tariffs will sadly affect consumers – as the product prices of those specific items would correspondingly increase.' A beast of Defy's own design Defy has danced this policy waltz before. Back in 2004, the company lobbied for a reduction in washing machine tariffs – it had halted local production and argued that duties hurt consumers. Then in 2019, it asked for a 30% hike on smaller top-loaders to protect planned investments in local manufacturing. Fast forward to 2025, and Defy is calling for protection again, but this time with localisation and industrial strategy riding shotgun. The DTIC's 'Reimagined Industrial Strategy' leans heavily on import substitution and job retention, and Defy's latest campaign aligns perfectly with those goals. In a way, the company is using trade policy not just as a shield, but as a tool to de-risk investment. Whether that's smart industrial pragmatism or self-serving protectionism depends on where you sit in the value chain. Copying moves from across the pond South Africa's washer war borrows heavily from America's. When Whirlpool triggered a trade war in the US against Samsung and LG a decade ago, it led to a game of global musical chairs. Once South Korean and Mexican washers were slapped with duties, production shifted to China. Then, when Chinese goods were targeted, factories moved to Thailand and Vietnam. This tactic (called 'country-hopping') made the US tariffs look more like speed bumps than roadblocks. Defy's decision to hit both China and Thailand out of the gate is a direct nod to that history; to plug the loopholes before they appear. But the American experience also shows how these moves can backfire. Prices on US washing machines rose by nearly 12% after those 2018 tariffs. Even dryers, which weren't tariffed, saw price hikes because retailers usually sell them in pairs. In the end, American consumers forked out $1.5 billion more, for 1,800 saved jobs. That worked out to more than $800,000 per job. Who wins, who spins? South Africa's washing machine trade wars come at a bad time for the economy. Winners: Defy gets a reprieve, likely recovering margin and market share. Policymakers score localisation points and can point to job protection. Local component suppliers might benefit if production ramps up. Losers: Consumers face higher prices – potentially 22% or more on affected washers. Low-income households bear the brunt; appliance affordability is a key cost-of-living metric. Retailers and importers scramble to find new sources, maybe from Vietnam, Turkey or Eastern Europe. Chinese and Thai exporters are likely to lose Southern African Customs Union market share, at least temporarily. Even complementary goods such as dryers could see price bumps, mimicking the US model. And as Defy gains pricing power, don't expect them to keep prices flat. Airing dirty laundry Anti-dumping duties sound noble, shielding local jobs from unfair trade, but they also set a precedent. What's stopping other industries from filing similar complaints? And if each results in price hikes, the inflationary impact stacks up. This matters for the South African Reserve Bank, which is already trying to keep inflation within the 3-6% target band. Appliances might be a small piece of the pie, but multiple actions like this create a cumulative effect. There's also the question of what happens in five years when the duties expire. Itac will have to decide whether the 'injury' risk still exists, and that decision will be just as political as it is economic… and Defy needs to show it was worth the effort with local investment. DM
Daily Maverick
05-08-2025
- Business
- Daily Maverick
Economic spin cycle: how anti-dumping duties could impact South African consumers
South Africa's washing machines are about to get more expensive, and Defy is hoping that's good news. The Department of Trade, Industry and Competition (DTIC) has endorsed the defence of the fully automatic top-loading washer hill. What began as a complaint lodged by Defy Appliances has now become a formal anti-dumping investigation and, soon, the likely imposition of provisional duties against imports from China and Thailand. It looks like a straightforward response to cheap foreign goods flooding the market, hammering local manufacturers and threatening jobs. But it is simultaneously a complex web of strategic policy, protectionism, precedent, and unintended consequences in the spin cycle. A heavy load The saga officially began in October 2024 when Defy asked the International Trade Administration Commission (Itac) to investigate imports of top-loading washers (10-17kg capacity) from China and Thailand. Defy alleges dumping margins of 21.48% for Chinese products and a whopping 67.11% for Thai machines, figures based on SA Revenue Service import data and overseas retail prices. It claims these imports have undercut local prices, slashed profits and forced an inventory build-up – a sign of unsold stock piling up in warehouses. In Defy's view, unless something is done, the injury will get worse as global overcapacity looks for cheap destinations such as South Africa. Itac seems to agree, at least enough to say a prima facie case exists. Provisional duties are expected by the end of 2025. Caught in a whirlpool Hisense South Africa was named alongside Chinese giant Midea in the Government Gazette, but the company says there's nothing sinister at play. 'Hisense SA categorically affirms that it has never been complicit in facilitating any form of alleged dumping, nor has it acted in contravention of South African trade laws or ethical business practices,' Luna Nortje, deputy general manager at Hisense SA, told Daily Maverick. 'We are fully committed to fair, transparent trade and continue to work closely with all relevant regulatory bodies to ensure full compliance.' 'These are standard processes designed to ensure market fairness and in no way imply unethical practice,' she said. Hisense's local credentials are significant. Since setting up shop in 1996, the company has invested more than R350-million into its Atlantis manufacturing plant, which today produces up to 500,000 refrigerators and a million televisions annually – not just for South Africa, but for export to more than 10 African countries. In fact, Nortje said Hisense was exploring further localisation: 'We are currently in the process of assessing the viability of manufacturing chest freezers at (the Atlantis) facility.' That said, she acknowledged the consumer pain. 'These tariffs will sadly affect consumers – as the product prices of those specific items would correspondingly increase.' A beast of Defy's own design Defy has danced this policy waltz before. Back in 2004, the company lobbied for a reduction in washing machine tariffs – it had halted local production and argued that duties hurt consumers. Then in 2019, it asked for a 30% hike on smaller top-loaders to protect planned investments in local manufacturing. Fast forward to 2025, and Defy is calling for protection again, but this time with localisation and industrial strategy riding shotgun. The DTIC's 'Reimagined Industrial Strategy' leans heavily on import substitution and job retention, and Defy's latest campaign aligns perfectly with those goals. In a way, the company is using trade policy not just as a shield, but as a tool to de-risk investment. Whether that's smart industrial pragmatism or self-serving protectionism depends on where you sit in the value chain. Copying moves from across the pond South Africa's washer war borrows heavily from America's. When Whirlpool triggered a trade war in the US against Samsung and LG a decade ago, it led to a game of global musical chairs. Once South Korean and Mexican washers were slapped with duties, production shifted to China. Then, when Chinese goods were targeted, factories moved to Thailand and Vietnam. This tactic (called 'country-hopping') made the US tariffs look more like speed bumps than roadblocks. Defy's decision to hit both China and Thailand out of the gate is a direct nod to that history; to plug the loopholes before they appear. But the American experience also shows how these moves can backfire. Prices on US washing machines rose by nearly 12% after those 2018 tariffs. Even dryers, which weren't tariffed, saw price hikes because retailers usually sell them in pairs. In the end, American consumers forked out $1.5 billion more, for 1,800 saved jobs. That worked out to more than $800,000 per job. Who wins, who spins? South Africa's washing machine trade wars come at a bad time for the economy. Winners: Defy gets a reprieve, likely recovering margin and market share. Policymakers score localisation points and can point to job protection. Local component suppliers might benefit if production ramps up. Losers: Consumers face higher prices – potentially 22% or more on affected washers. Low-income households bear the brunt; appliance affordability is a key cost-of-living metric. Retailers and importers scramble to find new sources, maybe from Vietnam, Turkey or Eastern Europe. Chinese and Thai exporters are likely to lose Southern African Customs Union market share, at least temporarily. Even complementary goods such as dryers could see price bumps, mimicking the US model. And as Defy gains pricing power, don't expect them to keep prices flat. Airing dirty laundry Anti-dumping duties sound noble, shielding local jobs from unfair trade, but they also set a precedent. What's stopping other industries from filing similar complaints? And if each results in price hikes, the inflationary impact stacks up. This matters for the South African Reserve Bank, which is already trying to keep inflation within the 3-6% target band. Appliances might be a small piece of the pie, but multiple actions like this create a cumulative effect. There's also the question of what happens in five years when the duties expire. Itac will have to decide whether the 'injury' risk still exists, and that decision will be just as political as it is economic… and Defy needs to show it was worth the effort with local investment. DM
The Citizen
23-07-2025
- Business
- The Citizen
SA acts against dumping of Chinese and Thai washing machines
Provisional anti-dumping duties in place for six months. South African consumers will find higher price tags on Samsung, Hisense and other laundry appliances. Picture iStock Top load washing machines imported from China and Thailand are the latest products to encounter anti-dumping duties from the South Africa's International Trade Administration Commission (Itac). The imported washing machines will carry provisional anti-dumping duties for the next six months ranging between 8% and 67%. Itac found evidence that importers from these two countries are dumping their product in the Southern African Customs Union (Sacu) region, causing material harm through, among others, price undercutting and price suppression. The dumping has led to a decline in sales volumes, productivity and growth for appliances giant Defy, the largest producer of the product in South Africa. Defy's application was submitted in July 2024, and the period in which the dumping allegedly took place was 1 April 2023 to 31 March 2024. Read more Honor Magic V5 foldable smartphone to land on SA shores soon [VIDEO] The investigation was initiated on 25 October 2024. Itac is allowed a maximum of 12 months from initiation date to complete an anti-dumping investigation. ALSO READ: SAMTC ramping up the fight against tyre dumping and illicit trade Popular but harmful It is alleged that automatic top load machines with a capacity exceeding 10kg but less than 17kg imported from the two countries are being dumped in the region. The machines are popular household appliances in SA. The importers – Samsung Tevo, Livance and Hisense – were alerted to the investigation and responded to the allegations of dumping. The commission found that there is a 'causal link' between the dumped imports and the injury and threat of material harm to industry in the Sacu region. Provisional anti-dumping duties are short-term emergency measures imposed before a final determination is made. This is done to prevent 'further injury' – in this case to Defy – while the investigation continues. The provisional duties against Chinese and Thai manufacturers will be in place for six months from 18 July. ALSO READ: Cement industry facing improved operating environment The provisional anti-dumping duties Source: Itac According to Itac, dumped imports increased 8% in 2023 and then further to 31% in 2024. The commission found price undercutting and price suppression during the investigation period. It said although Defy's sales volumes increased over the investigation period, the market share of imports increased over the same period. 'It should be noted that a single injury indicator is sufficient for the commission to make a determination on material injury and that an injury finding may be based solely on import volumes or import prices or both.' Import domination The commission found that although Defy's market share increased over the investigation period, the alleged dumped imports also increased – and dominated the Sacu market. The duties will remain in place while Itac continues its investigation until a final determination is made with recommendations to the minister of trade, industry and competition. The washing machines are the latest in recent anti-dumping measures taken against China and Thailand. Itac also introduced duties ranging from 9.6% for Thailand and 55% for China on structural steel products following an application from ArcelorMittal. That investigation period spanned April 2022 to March 2024, and found that imports caused material harm in the Sacu region from April 2021. Itac has also investigated the dumping of pneumatic tyres for cars, buses and trucks from Cambodia, Thailand and Vietnam, allegedly circumventions from China. The applicant asking Itac for relief was the South African Tyre Manufacturing Conference (SATMC), which requested duties ranging from 21% (Cambodia) to 68% (Thailand) and 84% (Vietnam). The reason for the application was to prevent 'alleged country-hopping' to evade existing duties on Chinese tyres. The alleged circumvention happened from March 2022 to May 2024. This article was republished from Moneyweb. Read the original here.
Yahoo
24-06-2025
- Business
- Yahoo
Medha Agarwal, Jyoti Bansal, and Jennifer Neundorfer on what makes a pitch land at TechCrunch Disrupt 2025
Perfect your pitch for maximum impact. Investors hear hundreds of pitches, but only a few stand out. At TechCrunch Disrupt 2025, hear directly from Medha Agarwal, general partner, Jyoti Bansal, CEO and co-founder, Harness; Jennifer Neundorfer, co-founder and managing partner, January Ventures as they share what grabs their attention, what turns them off, and the subtle signals founders often miss. This candid panel reveals the insider strategies to help you build trust, stand out, and win the right checks. Join 10,000+ startup, tech, and VC leaders October 27–29 at Moscone West in San Francisco for high-impact discussions like this. Register here, take advantage of early pricing with up to $675 off tickets before rates go up. As a General Partner at Defy, Medha Agarwal is fortunate to support exceptional entrepreneurs from day zero through hyper-growth. Whether building her own startups or partnering with founders, she has experienced the highs and lows of company-building, sometimes all within the same hour. It's one of the hardest, loneliest jobs in the world, which is why she believes founders need trusted partners who can be there for anything, big or small. Agarwal strives to be that person. Before Defy, she spent seven years as a Partner at Redpoint Ventures, focused on early-stage fintech, vertical SaaS, marketplaces, and healthcare. She had the privilege of working with companies like Whatnot, Tend, Proper Finance, LiveKit, and Anvyl—founders who taught her as much as she supported them. Jyoti Bansal is a serial entrepreneur who believes passionately in software's ability to change the world for the better. He co-founded Harness in 2017 to automate and simplify all software delivery processes, and serves as CEO. In 2018, he co-founded Traceable, the leading API security platform, and venture capital firm Unusual Ventures. In 2008, Bansal founded application intelligence company AppDynamics, which he led to a $3.7B acquisition by Cisco in 2017. The recipient of multiple leadership awards, Bansal has been named Forbes' 'Best Cloud Computing CEO to Work for,' San Francisco Business Times' 'Best CEO,' Ernst & Young's 'Entrepreneur of the Year for Northern California,' and more. Jennifer Neundorfer is an operator turned investor who has been investing in early-stage startups for the last decade. She is currently the Managing Partner of January Ventures, a pre-seed focused venture capital firm investing in B2B startups leveraging software to transform legacy industries. She founded January Ventures to rewrite the networks in venture capital and invest in the most ambitious founders regardless of pedigree, network, or access. Prior to January, Jennifer was co-founder of Flashstarts, a startup accelerator focused on software startups outside of Silicon Valley. The Disrupt 2025 agenda is now LIVE and ready for your eyes! Explore the nearly complete lineups for the Builders and Going Public Stages — and check back often as we continue to add sessions to the AI, Space, and Disrupt Stages, plus roundtables and breakouts. Register now and save up to $675 before prices increase. 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
Forbes
05-06-2025
- Lifestyle
- Forbes
Moft Dynamic Folio And Dygma Raise 2 Make For A Perfect Mobile Office
You might not realize it, but this is going be your favorite way to create documents from now on. Nearly a decade ago, I had a vision of an Improbable, Impractical Word Processing Machine that I could tote anywhere without extra bits, cranking out my magnum opus on the go, distraction free. For about 10 years, I've hewed to that original vision, resigning generation after generation of iPad to keyboard-enabled cases. This was useful…but ultimately tiresome. For instance, the latest generation of iPad Pro has the Magic Keyboard case, which gives the tablet a laptop-sized scissor-switch keyboard and trackpad. And while it's the best that's Apple's made for the iPad Pro, it's not very flexible, literally and figuratively. If I want to use my iPad as a tablet, I need to pop it off the keyboard and use it unprotected. So I started thinking, if I'm going to be stuck with a bulky extra keyboard whenever I just want to use my iPad as an iPad, it should probably be a keyboard that I like. And it'd be nice if I could keep my iPad protected all the time. The recent release of two new accessories have given me the opportunity to do just that — keep my iPad Pro protected (while increasing its utliity) and enable comfortable marathon writing sessions. And while it might just be a new Frankenstein's monster of a word processor, it's still the most comfortable portable writing solution I've ever used. Dygma Raise 2 with tenting and underglow (plus KeyGeak keycaps) Having gotten tired of lugging around my keyboard folio everywhere and missing the comfort of my split Dygma keyboard, I decided to make things even more bulky by slimming down my iPad and bringing an even larger keyboard with me whenever I needed to do text entry on the go. The stretch here, obviously, is lugging around an entire full-sized split keyboard, but hear me out. First, and most importantly, if you've typed on a split keyboard for any amount of time, you'll know that switching to a traditional keyboard is, quite literally, painful. Pair that with the cramped conditions found by necessity on a mobile keyboard and you have an even worse situation. The Dygma Raise 2 is the next generation of Dygma's original keyboard. Except now it has built in tenting, improved underglow, and magnetic palm pads, just like the Defy. It's a boon to anyone who is stymied by the Defy's columnar layout but still wants to have a split keyboard. The overall key layout is more traditional as well, giving you a more familiar base to build your virtual layers upon. And, of course, you're not limited to having to use both sides of the keyboard. Do you just need one half for gaming or numpad entry? Then just use that side. Would you rather use the Raise 2 as a traditional keyboard? Then shove the two halves together! You've got options. A vastly upgraded undercarriage to the original Raise. The dongle slots into the bottom of the keyboard itself so that you can use it as a traditional Bluetooth keyboard, which makes it perfect for typing on tablets, phones, whatever your 'screen' is in your chosen mobile setup. The one thing you do lose is on-the-go layer and macro management. Since Dygma doesn't have a mobile version of its app, you'll need to get things set up on a computer if you want to be able to customize your Raise 2. But it's a small price to pay for getting to use a keyboard this advanced on the go. It's deeply customizable both software and hardware-wise. The switches themselves are hot-swappable, so if you get tired of a certain typing profile, you can change it up! If you don't need LED underglow or tenting, leave them out. You can even skip the wireless (though that does defeat the purpose in this particular use case). The downside is that those hardware extras all come with a price. So while the Dygma Raise 2 starts at $369, for a configuration that's fully kitted-out, you'll pay $619. All Dygma keyboards come with a convenient travel case and an "enhancement kit" with test switches, so when you get that itch to change things up, you can test some of the options available. There's also a convenient keycap and switch puller, which I put to good use to toss these cool comic keycaps from KeyGeak on my deck. Full protection, full flexibility Breaking my iPad Pro free of the keyboard folio was revelatory. I've had it encased in that rigid case since I purchased it and had forgotten how light and easy the iPad can be. But I still needed a way to keep my iPad Pro protected, but also be able to easily prop it into reading and work positions. Mott's latest iPad cover is the most versatile I've ever used. The origami-style cover has over a dozen configurations. So finding something that works for your perfect setup is a simple task. There are a ridiculous amount of configurations My only real issue is that there are so many different ways to fold the Dynamic Folio that there are times when I'm just randomly trying to manipulate the cover into a position that I think will work, only to have it flop back, completely flat. Make sure you study the diagrams that are included in the box! Moft claims about 20 configurations in all. I've had to keep referencing the cheat sheet as well as the YouTube tutorial. Even then, I still forget how to configure some of the modes without help. Despite its versatility, the Dynamic Folio doesn't add a lot of extra thickness to the iPad, which was what I was ultimately trying to achieve with this setup. I use my iPad Pro for a lot of tasks where I need a screen but don't want to be tied to a computer. Having a thick keyboard case on all the time defeats that and, frankly, looks ugly when I'm just trying to read comics during lunch or checking reference photos while I refurbish old 80s Transformers. Want to use your phone and your iPad at the same time? There's a configuration for that. There's a hidden slot in the back that you can use to tuck the edge of the case under (and the cover has an extra hinge) so that you can find exactly the right angle for your needs. There's even a configuration where you can mount your iPhone at the top of your screen. This is the cover that Apple should've made for the iPad. It goes beyond simple protection and makes the tablet versatile in a way that it simply hasn't been for me in the years I've owned it. And pairing a full-sized, split keyboard to lug around with it might seem like folly, but this is the most proficient I've been on the go since I started using a keyboard/tablet combo. While it may be bit more unwieldy to transport than when I turned my iPad into a laptop 9 years ago, the setup is ultimately more versatile and more comfortable to use.
