Tag Archives: Billion

Germany’s ‘Diesel Fear’ Leaves $5 Billion in Used Cars Gathering Dust

Germany’s back and forth over potential bans for diesel cars in cities is sapping demand for the vehicles and causing a backlog of used models on dealer lots that’s swelled to some 4.5 billion euros ($5.3 billion). A deal earlier this month between Germany and Volkswagen AG, Daimler AG and BMW AG to upgrade 5 million newer diesel cars and offer trade-in incentives on older models hasn’t ... Read More »

Apple Reports Record $78.4 Billion in Revenue; iPhone Sales at an All-Time High of 78.3 Million Units

Apple on Tuesday reported a rebound in iPhone sales to lift the tech giant to record revenue in the past quarter in quarterly results that eased concerns of slowing growth. The results showed strong demand for Apple’s iPhone 7 models launched last year, with demand outpacing supply. Revenue climbed to an all-time record $78.4 billion (roughly Rs. 5,30,498 crores) compared ... Read More »

LeEco Gets Fresh $2.18 Billion Investment From Property Developer Sunac

Chinese technology conglomerate LeEco has secured a new round of investment worth CNY 15.04 billion ($2.2 billion or roughly Rs. 14,856 crores) from property developer Sunac China Holdings, according to a stock exchange statement made by Sunac on Friday. Last year LeEco’s founder and chairman Jia Yueting said that his company was facing financial obstacles due to the rapid pace ... Read More »

Xiaomi Targets Sales of $14.5 Billion in 2017 After Business Overhaul

China’s Xiaomi targets 2017 sales of over CNY 100 billion ($14.47 billion or roughly Rs. 98,471 crores), Chief Executive Lei Jun said on Thursday, after a year that saw the firm fall down the smartphone vendor rankings while it overhauled its business. “The worst is over,” Lei said at an annual meeting in Beijing, describing 2016 as a “make-up year”. ... Read More »

WhatsApp Used to Send a Record 14 Billion Messages on New Year’s Eve in India

On New Year’s Eve, 14 billion messages were exchanged through WhatsApp in India, 32 percent of which were in some form of media – photos, GIF images, videos, and voice messages, the Facebook-owned instant messaging app said on Friday. The number of messages shared on the platform on New Year’s Eve is even higher than the last record set during ... Read More »

Xiaomi India Claims Revenue Topped $1 Billion in 2016

Xiaomi, which entered the Indian market less than two years ago, says its revenue in India in 2016 has crossed $1 billion (roughly Rs. 6.800 crores). Based in China, Xiaomi forayed into India with the Xiaomi Mi 3 smartphone in July 2014, and has since expanded its portfolio to include speakers, earphones, power banks, air purifiers, fitness bands, VR headsets, ... Read More »

LeEco in Talks on $1.4 Billion Support, Starts Electric Car Plant

Cash-strapped Chinese technology conglomerate LeEco is in talks on securing a CNY 10 billion ($1.4 billion) deal with an unnamed strategic investor, its listed unit said. Leshi Internet Information and Technology said in a filing to the stock exchange late Wednesday that its parent company had signed a framework agreement with the investor and the two sides were still discussing ... Read More »

Indian Banks May Raise $30 Billion Through Bonds By March 2019: Fitch

Banks need around $90 billion in extra capital by March 2019, says Fitch. New Delhi: Indian banks need around $90 billion additional capital by March 2019 and one-third of this amount is expected to be raised through bonds, according to a report by ratings agency Fitch. Indian banks are likely to become more active in the Additional Tier 1 (AT1) ... Read More »

Siemens to Buy Mentor Graphics in $4.5 Billion Deal

Siemens agreed to buy US-based Mentor Graphics in a $4.5 billion (roughly Rs. 30,452 crores) cash deal that will further enhance the German engineering group’s industrial software capabilities. Siemens said on Monday it would pay $37.25 per share for Mentor Graphics, which makes software for designing semiconductors, a 21 percent premium to Friday’s closing price. Siemens Chief Executive Joe Kaeser ... Read More »

Samsung to Buy Harman for About $8 Billion in Cash

Samsung Electronics said Monday it would buy US auto parts maker Harman International Industries for $8 billion (roughly Rs. 54,107 crores) in a bid to enter the growing market for automotive technology to produce “connected” cars. Board members of Samsung – the world’s largest producer of smartphones – had approved the all-cash acquisition of the Connecticut-based firm for $112 a ... Read More »