Electronics

LG India has announced a strategic reshuffle of its leadership team following the successful completion of its Initial Public Offering (IPO). The move aims to strengthen governance, enhance operational efficiency, and align management with the company’s long-term growth objectives in a competitive consumer electronics and appliances market. Key leadership roles have been reassigned to executives with proven expertise in finance, marketing, and operations.

Panasonic India’s long-serving Chairman, Manish Sharma, has resigned after nearly two decades with the Japanese electronics giant, marking the end of a transformative leadership phase. During his tenure, Sharma played a pivotal role in deepening Panasonic’s manufacturing footprint in India, driving localization, and strengthening its alignment with the government’s Make in India initiative. Following his exit, Tadashi Chiba, currently the Managing Director of Panasonic Life Solutions India, will assume the chairman’s role.

Commerce and Industry Minister Piyush Goyal has urged India’s electronics manufacturing sector to embrace self-reliance and technological innovation to reduce import dependence and enhance global competitiveness. Addressing industry leaders, Goyal emphasized the need to strengthen domestic supply chains, foster component manufacturing, and create globally recognized brands under the ‘Make in India’ initiative.

Radico Khaitan Ltd., one of India’s leading spirits manufacturers, reported a sharp 73% year-on-year rise in its consolidated net profit to Rs. 140 crore for the second quarter of FY25, driven by strong growth in its premium liquor segment and improved operational efficiency. Revenue for the quarter climbed 15% to Rs. 1,090 crore, supported by robust consumer demand and a favourable product mix. The company’s focus on premiumization and cost optimization initiatives significantly boosted margins.

India’s electronics market has witnessed a remarkable surge in sales during the Navratri festive season, signaling renewed consumer confidence and robust retail demand. From smartphones and smart TVs to home appliances and wearables, nearly every product category recorded significant growth across both online and offline channels. Industry analysts attribute the spike to aggressive festive discounts, easy financing options, and pent-up demand from Tier-II and Tier-III cities. The trend reflects not only rising disposable incomes but also the increasing digitization of consumer lifestyles.

Sony has projected a 10 percent increase in television sales in India following the government’s decision to reduce the Goods and Services Tax (GST) on consumer electronics. The company believes the tax cut will enhance affordability, particularly in the mid- and premium-segment television market, where price sensitivity often influences purchasing decisions.

In a significant leadership shake-up, Taiwan’s Foxconn has appointed Robert Wu as the new head of its India operations while elevating Vincent Lee to a global leadership role. The restructuring underscores Foxconn’s growing commitment to India as a strategic hub for electronics manufacturing, amid rising global demand and supply chain diversification away from China. Wu’s appointment is expected to accelerate Foxconn’s investment push in India, especially in semiconductors and consumer electronics, while Lee will focus on strengthening global operations.

Foxconn, the world’s largest contract electronics manufacturer, has officially initiated production of the iPhone 17 at its Bengaluru plant, marking a significant milestone in India’s smartphone manufacturing landscape. This move reinforces India’s role as a strategic hub for Apple’s global supply chain, supporting the government’s “Make in India” initiative. Analysts anticipate that the local production of the flagship device will not only reduce import dependency but also create substantial employment opportunities and boost ancillary industries.

Bajaj Electricals has reported a dramatic 97% drop in its consolidated net profit for the first quarter of FY26, signalling a turbulent start to the financial year. The decline, attributed to margin compression and increased expenses, has stirred concerns among investors and analysts alike. While revenue saw a modest uptick, profit margins were squeezed by higher input costs and a dip in contribution from key business segments.

Blue Star Ltd., a leading player in India’s cooling products and commercial refrigeration sector, reported a notable year-on-year decline in its net profit for the first quarter of FY2025, even as revenue climbed during the same period. The company’s consolidated net profit dropped 28.4% to Rs. 40.04 crore in Q1, impacted by rising input costs and intensified market competition. However, revenue from operations grew by 18.7% to Rs. 2,398.59 crore, reflecting strong demand in the cooling products segment.