Indian automotive major Mahindra & Mahindra Ltd on Monday opened a new manufacturing plant in the world’s car capital Detroit, which got its first automotive production facility in 25 years. With an investment of $230 million, the plant at Auburn Hills in north Detroit will create 250 new jobs in the US. ”It is pretty rare and extraordinary,” said Michigan ... Read More »
Future Retail plans to increase the contribution of fashion and private labels and cut costs as a percentage of sales once it fully takes over the premium retail stores of HyperCity, the company told investors when it announced its quarterly earnings. Retail czar Kishore Biyani announced in October that he was buying out HyperCity, a 19-store network of high-end grocery ... Read More »
Earlier this year, Daimler announced plans to develop a self-driving, car-sharing system with fully autonomous vehicles geared towards city living. Today, the company says that the first part of that vision — Smart’s Vision EQ Fortwo concept vehicle — will be presented at the 2017 Frankfurt International Motor Show next month. The EQ Fortwo is a level five, fully autonomous car with no steering wheel or pedals. Via ... Read More »
Carvana, known for its vehicle vending machines, here and below, never has made a profit. But the Phoenix company has been expanding rapidly with a targeted strategy. Carvana Co. might still be bleeding money, but that has not stopped Wall Street analysts from liking what they see from the online used-vehicle retailer. Carvana this month reported a $38.4 million loss ... Read More »
Shipping 44.9 million iPhones to China, Apple has beaten Xiaomi, touted as the ‘Apple’ of China that shipped 41.5 million smartphones and slipped to fifth spot, market research firm International Data Corporation (IDC) has revealed. According to IDC’s Quarterly Mobile Phone Tracker report, Apple dropped from 58.4 million iPhones in 2015 and Xiaomi from 64 million Mi phones, drops of ... Read More »
The new Xiaomi Redmi Note 4 smartphone, which went on sale on Monday, has seen tremendous response from the Indian market. Xiaomi in a press statement has announced that 250,000 units of the Redmi Note 4 were sold in 10 minutes in the smartphone’s first sale in the country. The company said that the Xiaomi Redmi Note 4 (Review) saw ... Read More »
Maruti Suzuki India Limited today announced that it has sold a total of 117,908 units in December 2016. This includes 106,414 units in domestic market and 11,494 units of exports. The Company had sold a total of 119,149 units in December 2015. This is a sharp dip in sales and the downslide continues. The company recorded a 20 percent dip ... Read More »
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 »
The latest OS sales data figures from Kantar Worldpanel ComTech reveals that iOS adoption has seen a boost in three months ending October, all thanks to the sales of the iPhone 7 and iPhone 7 Plus. Japan currently holds the top spot where iOS holds the greatest share at 51.7 percent of smartphone sales, followed by 44 percent in Great ... Read More »
Global subscriptions for smartphones will almost double by 2022, helping mobile data traffic to eightfold, telecoms network gear maker Ericsson predicted on Tuesday. The Swedish company said it expected there will be 6.8 billion smartphone subscriptions globally by the end of 2022, up from 3.9 billion in 2016. In its previous forecast from June this year, Ericsson had said it ... Read More »
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