Connect with us

Business

Samsung cuts manpower for 1st time in 7 years

Published

on

samsung

Seoul, July 2 : For the first time in seven years, the headcount of Samsung Electronics came down in 2016 mainly due to its restructuring in China, the company data showed on Sunday.

The number of employees of the world’s largest smartphone and memory chip manufacturer fell 5.2 per cent to 308,745 in 2016 from 325,677 the previous year, Yonhap news agency reported.

By region, domestic employees dropped 3.8 per cent to 93,204, and those abroad declined 5.8 per cent to 215,541.

As of the end of last year, the percentage of the employees at Samsung’s companies abroad dropped 0.4 percent to 69.8 percent.

The number of Samsung employees in China fell 17.5 percent to 37,070 last year from 44,948 the previous year while those in North and South America surged 8.5 per cent to 25,988.

A company official attributed the cut in the number of employees partly to the sale of its printing business to HP.

Corporate restructuring in Samsung’s factories in China and other Asian countries also led to the overseas manpower cut, he said.

The ratio of female employees accounted for 44 per cent last year, down two percentage points from a year earlier.

The proportion of female managers and executives, however, rose to 12.7 per cent and 6.3 per cent last year from 12.4 per cent and 4.5 per cent, respectively, from a year earlier.

Samsung Electronics has 2,468 cooperative business partners across the globe as of the end of 2016 while maintaining 238 major production facilities, 53 distribution centres, 34 research and development centres, seven design centres and 73 service centres across the world.

IANS

Business

Equities trade flat-to-positive; Yes Bank, RIL top gainers

Published

on

SENSEX-

Mumbai, April 24: Key Indian equity indices on Tuesday traded on a flat note with marginal gains as broadly positive global cues, along with healthy buying in oil and gas and healthcare stocks kept investors’ sentiments buoyed.

Yes Bank, Reliance Industries (RIL), Adani Ports, ICICI Bank and HDFC were the top gainers on the BSE during mid-afternoon trade session.

However, heavy selling pressure in metals, IT and consumer durables stocks trimmed gains of the benchmark indices, market observers said.

Around 1 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded flat at 10,585.20 points — up 0.50 points.

The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 34,491.38 points, traded at 34,520.38 points — up 69.61 points or 0.20 per cent from its previous session’s close.

The Sensex has so far touched a high of 34,612.43 points and a low of 34,465.49 points during the intra-day trade.

The BSE market breadth was bearish with 1,291 declines and 1,168 advances.

“Indian markets opened mixed, Sensex rose 147 points and Nifty reclaimed 10,600 mark in early trade on Tuesday on sustained buying by domestic institutional investors amid firm Asian cues,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

On Monday, the equity indices closed a volatile trade session on a flat-to-positive note as healthy quarterly results drove investors’ sentiments.

The Nifty50 closed higher by 20.65 points or 0.20 per cent at 10,584.70 points, while the Sensex closed at 34,450.77 points — up 35.19 points or 0.10 per cent.

IANS

Continue Reading

Business

Xiaomi, Jio top India market

Published

on

xiaomi jio

New Delhi, April 24: Xiaomi continued to lead the Indian smartphone market with 31.1 percent market share while Reliance Jio topped the feature phone market with a massive 35.8 percent share in the first quarter of 2018, a new report has said.

Xiaomi was the leader with 25 per cent market share in Q4 of 2017.

According to Counterpoint’s “Market Monitor” service, Samsung with 26.2 per cent share was second, followed by Vivo at 5.8 per cent share in the smartphone segment.

Driven by the feature phone segment which doubled owing to strong shipments of Reliance JioPhone, India’s overall mobile phone shipments grew 48 per cent (YoY) in Q1 2018.

Honor (Huawei) entered top five smartphone brands for the first time. Honor (146 per cent), Xiaomi (134 per cent) and OnePlus (112 per cent) were the fastest growing smartphone brands.

“Q1 2018 started off with some brands sitting on inventory post the festive season in Q4 2017, which continued throughout the quarter as industry moves to a Full View display portfolio,” Karn Chauhan, Research Analyst, said in a statement.

Furthermore, the quarter was also marked with less than normal smartphone launches as very few brands refreshed their portfolio, except for Xiaomi and Samsung which benefitted from the new launches.

“However, we expect the demand to start picking up from early Q2 2018 onwards, driven by faster replacement rate of existing 2G and 3G smartphone users upgrading to 4G mobile phones,” Chauhan added.

This is the first time that the top five smartphone brands accounted for more than 70 per cent market share in a single quarter.

“Xiaomi and Samsung alone captured 58 per cent of the total smartphone market. Xiaomi’s Redmi Note 5 and 5 Pro were the most popular models for the Chinese brand, whereas Samsung Galaxy J7 NXT and J2 (2017) drove volumes for the Korean vendor,” said Anshika Jain, Research Analyst.

The performance of Chinese brands remained strong, accounting for 57 per cent of the total smartphone market in Q1 2018, up from 53 per cent during Q1 2017.

“The demand for JioPhone continued through Q1 2018 as Reliance Jio’s feature phone market share raced from 0 per cent last year to 36 per cent in Q1 2018. This demand was catalysed by the introduction of a cheaper data plan,” said Tarun Pathak, Associate Director.

China based Transsion Group (the holding group of Tecno, Itel and Infinix) has become the fifth largest player with four per cent market share in Q1 2018 (combined for all three brands).

The race for the fifth position is quite close between Lava, Micromax, Honor, Nokia (HMD) and Lenovo (+Moto) brands.

Itel is the third largest player in the feature phone segment with 17 per cent growth (YoY).

IANS

Continue Reading

Business

Key equity indices provisionally end in green

Published

on

Mumbai, April 23: The key Indian equity indices provisionally closed in the green on Monday on the back of healthy buying in consumer durables, healthcare and IT stocks.

However, selling pressure on metal and fast moving consumer goods (FMCG) stocks trimmed gains in the market.

At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed higher by 20.65 points or 0.20 per cent at 10,584.70 points.

The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 34,493.69 points, closed at 34,450.77 points (3.30 p.m.) — up 35.19 points or 0.10 per cent — from its previous session’s close.

The Sensex touched a high of 34,663.95 points and a low of 34,259.27 during the intra-day trade.

The BSE market breadth was bullish with 1,399 advances and 1,284 declines.

On Monday, the major gainers on the BSE were IndusInd Bank, Mahindra and Mahindra, Sun Pharma, Asian Paints and Yes Bank while HDFC Bank, Tata Motors (DVR), Coal India, Hero MotoCorp and ICICI Bank were among the major losers.

On NSE, the top gainers were IndusInd Bank, Mahindra and Mahindra and BPCL. The major losers were Hindalco Industries, Indiabulls Housing Finance and UPL.

On Friday, negative global cues such as high crude oil prices, along with a weak rupee and heavy selling pressure in banking stocks subdued the key Indian equity markets.

The Nifty50 closed at 10,564.05 points on Friday, down 1.25 points or 0.01 per cent from its previous close and the Sensex closed at 34,415.58 points, down 11.71 points or 0.03 per cent.

IANS

Continue Reading
Advertisement

Most Popular