Tag Archives: Business

Maruti Suzuki to revamp used-car business

The new outlets, which will also be based on a franchise model, will be set up by Maruti’s dealers, who are likely to invest close to Rs60 lakh-Rs90 lakh in each, depending on the area and city. Photo: Mint Mumbai: Sixteen years after Maruti Suzuki India Ltd entered the used car market, it is sharpening its focus on the business that ... Read More »

Maruti Suzuki to revamp used-car business

Sixteen years after Maruti Suzuki India Ltd entered the used car market, it is sharpening its focus on the business that is expanding rapidly. As part of the exercise, the Japanese carmaker’s local arm, which sells second-hand cars under the True Value brand, will set up a network of 150 independent outlets across the country by March 2018, and increase ... Read More »

GST effect: Used car business could impact the new car market in India

The Goods and Services Tax (GST) that will be enforced from 1 July has the potential to realign the largely unorganized used car market into a more organized frame work say industry leaders. Interestingly, sale of old and new cars is inextricably linked. It is estimated that about 27-28 percent of new car sales accrue through exchange of old models. ... 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 »

SBI Cards Sees Business Opportunity In Low Income Category

New Delhi: To tap opportunities arising out of limited cash supply following demonetisation, SBI Cards will soon launch credit cards aimed at the lower income group who have the capacity to pay but don’t have cards, besides quickening card delivery period to 2-3 days. “From the issuer side, what we can do is acquire more people and acquire faster. Another ... Read More »

HDFC Bank’s Aditya Puri In Fortune’s List Of Top 50 Business Persons Globally

  Mumbai: HDFC Bank’s Aditya Puri has been ranked 36th in the US magazine Fortune’s top 50 business persons list for 2016, and is the only Indian among three persons of Indian origin in the global rankings. Mr Puri, who has led the second largest private sector lender since its inception in 1994, has been ranked 36th in the list, ... Read More »

Sony Sees Strong Demand for PS4 Games as Mobile Business Slumps

Sony said Tuesday its fiscal first half net profit dived owing to a sharp rally in the yen and losses linked to the sale of its battery business. The Japanese electronics giant, which has been shedding assets as part of a broad restructuring, said it had a JPY 26 billion ($248 million or roughly Rs. 1,655 crores) net profit in ... Read More »

Sony Surprises With Profit Warning on Sale of Battery Business

Sony Corp cut its annual profit outlook due to losses related to the sale of its battery business – disappointing a market that had been hoping for an upward revision on buoyant sales momentum for PlayStation 4 and the launch of its virtual reality headset. Emerging from years of restructuring, the consumer electronics giant is refocusing its business to concentrate ... Read More »

BlackBerry to Stop Making Smartphones, Focus on Software Business

  BlackBerry Ltd. reported fiscal second-quarter sales that missed analyst estimates and said it will stop making its iconic smartphones and focus on its software business. The shares rose in premarket trading in New York. Key points Fiscal second-quarter earnings per share, excluding some items, was flat, compared with analysts’ average estimate of a loss of 5 cents. Revenue in ... Read More »

Sony Says to Sell Battery Business to Murata Manufacturing

Sony Corp said on Thursday it has agreed to sell a portion of its battery business to Murata Manufacturing Co Ltd, as the electronics giant responds to slowing demand for smartphones. The announcement comes as Sony banks on growth in its games business with the upcoming launch of its virtual reality headset, while it also plans to re-enter the robotics ... Read More »