Electronics

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.

GNG Electronics, a fast-rising player in India’s electronics manufacturing services (EMS) sector, has announced its initial public offering (IPO) with a price band of Rs. 225 to Rs. 237 per equity share. The IPO is aimed at funding the company’s capacity expansion, improving its working capital, and accelerating its transition into a major contract manufacturer for diversified sectors.