The finance ministry on Tuesday late night issued a notification to scrap import duty on open cell LED panel used in televisions from 5% to zero.
With this, Motorola joins players like Samsung, Xiaomi, Micromax and Intex who sell both smartphones and smart TVs.
Slowdown in the last two months has been a damper despite good monsoon. Retailers meanwhile, are optimistic about the festive season.
The closely held Chennai based company has bagged tenders worth ₹250 crore for providing lifts and escalators for multiple phases of the Mumbai Metro project, which is currently under construction.
Srivastava will be succeeded by Neeraj Bahl who takes over charge of the Indian business as it's MD and CEO.
Taurani said the increase in competition from entry of newer brands will benefit the category considering penetration is a mere 14-15%.
The Move is part of strategy to cut costs, boost efficiency by integrating operations that have synergies.
Smaller cities, towns see big sales growth, as easy finance also aids demand.
These ACs will be sold through the portal, EESLmart.in, which marks EESL’s foray into e-commerce, an official statement said.
For the first time, TV sales have not shown the usual spike during a World Cup, following the rise in spending on ACs.
Consumer electronics makers as Sony, Samsung, LG and Panasonic have reported up to 100 pc jump in sales of large-screen TVs (55-inch and above) compared to the same period last year.
Both e-tailers, Amazon and Flipkart, have seen a spike in the sales of large-screen televisions.
Air cooler makers expect a shift in leading markets with a huge replacement demand for branded coolers.
The consumer electronics business, Panasonic's largest in India, grew 2% to Rs 4,000 crore last fiscal year.
Samsung and LG want to narrow the pricing premium over brands such as Xiaomi, TCL, Thomson and BPL.
Xiaomi said it is also the number one smart TV brand in India for three consecutive quarters in a row
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