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Exclusive: Foxconn says Apple, Dell join its bid for Toshiba chip business

Apple Inc and computing giant Dell Inc will join a Foxconn-led consortium bidding for Toshiba Corp's highly prized chip unit, the CEO of the world's largest contract electronics manufacturer told Reuters on Monday.

Terry Gou, Foxconn's founder and chief executive, said U.S.-based Kingston Technology Co, a maker of memory products, would also be part of the bidding group, while Inc was close to joining.

Apple seeks changes in PMP for setting up unit in India

iPhone maker Apple has sought modifications in the government's phased manufacturing programme (PMP) as it plans to set up a manufacturing unit in the country.
The objective of Electronics and IT ministry's PMP is to boost indigenous production of mobile phones by providing tax relief and other incentives on components and accessories used for the devices. The programme will be rolled out over a period of time.

Hero MotoCorp phases out select models, variants

Country's largest two wheeler maker Hero MotoCorp has phased out different models and variants as part of its plans to realign product portfolio to focus on premium bikes
and scooters for future growth.
The company has discontinued Ignitor, Hunk and HF Dawn models while it has already stopped selling of variants such as Maestro scooter, Passion Xpro, Splendor Pro Classic and Karizma R motorcycles in the recent months.

Electric car sales on the surge

The number of electric vehicles on the road rocketed to 2 million in 2016 after being virtually non-existent just five years ago, according to the International Energy Agency.
Registered plug-in and battery-powered vehicles on roads worldwide rose 60 per cent from the year before, according to the Global EV Outlook 2017 report from the Paris-based IEA. Despite the rapid growth, electric vehicles still represent just 0.2 per cent of total light-duty vehicles.

Usha to focus on fan market with e-com

Usha International Ltd, one of India’s leading consumer durables company, is now focusing on strengthening its brand presence in the fan market.
It plans to do so by increasing penetration and brand visibility through much wider product display and keen engagement with new emerging channels like e-commerce and modern retail.
E-commerce is the eme-rging platform and the co-mpany will be actively rea-ching the online consumer base through e-tailing.

Contact-less cards can bring down wastage at toll plazas

RFID-based contact-less cards can save over Rs 55,000 crore by reducing the time spent and fuel wasted at toll plazas on national highways.
Usage of contact-less cards at around 400 toll plazas of the country can bring down the payment time to one-third, find payment technology companies. A similar reduction in wastage can be expected once the technology makes things faster.

Just Herbs in expansion mode

Call it a reverse journey or something else! While many of its peers are moving from retail to e-tail, here is a bespoke ayurvedic beauty brand, which is moving the other way round. The fledgling homegrown brand-Just Herbs, which was floated as an e-store in late 2013, has now set out on its retail journey with its maiden company owned outlet in Chandigarh. Moves are already afoot to add at least 3-4 outlets annually over next couple of years and emerge as a pan India brand, top company officials said.

Michelin introduces SUV tyres

French tyre maker Michelin on Tuesday announced the sale of Michelin LTX Force range of tyres targeting fastest selling sport utility vehicles (SUVs) in the country, Asia’s third biggest car market.
With the introduction of the new range of tyres, imported from its factory in Brazil, Michelin is strengthening its product portfolio as well as its standing in the Indian market. These tyres carry a price band between Rs 9,000 and Rs 13,000.
“The SUV market is one of the fastest growing segments in India,” Mohan Kumar, commercial director at Michelin India, said.

Nikon India eyes slot in parent's top 5 global units

Nikon India is eyeing a place in Japanese parent Nikon's top five units globally this fiscal as it continues to strengthen its position in the country.
"We are looking at becoming top 5 markets globally this year and I have also set an ambitious target of being in top 3 markets in five years time ...", Nikon India Managing Director Kazuo Ninomiya told PTI.
"We expect to report Rs 1,200 crore sales turnover in the current fiscal year," Ninomiya said. The company had reported sales of Rs 1,150 crore in the previous fiscal year.

Jet Airways in talks to buy 50 single aisle aeroplanes

Jet Airways India, the country’s biggest full-service carrier, is in talks to buy 50 narrowbody jets worth at least $5.6 billion on top of a pending order for Boeing 737 Max aircraft, a person with direct knowledge of the plan said.