Top Four Buzzes from the Business World
Looking for the latest business news this month? Here are the top 4 business headlines for you:
A cut in profit by Samsung, owing to Note 7 issues
The world’s cell phone giant, Samsung, has reported a reduction in the forecast by a large number. This news comes after its flagship phone, Note 7 was banned in airplanes and hit by safety issues. According to the Samsung website, the forecast in terms of the operating profit has lowered down from 7.7–7.9 Korean won to 5.1–5.3 trillion won. The company has also stated that the production, sales, and exchange of Samsung Note 7 has been halted.
Solar Sector reports USD 3 billion funding in third quarter
India’s solar sector has seen a rise in the corporate funding. The investments in the period between April-June stood at USD 1.7 billion dollars. The corporate funding in the duration of the recent quarter, i.e. July-September was marked with USD 3 billion. Global Venture Capital Funding for solar sector that includes private equity has also doubled with 342 million dollars. This is quite a significant development for the country.
Hero Motors to manufacture bike gears for Ducati
Hero Motors has received orders from one of the world’s renowned motorcycle companies, Ducati. The former company has been assigned the manufacturing of bike gears. These gears will cater to the premium components of Ducati motorcycles. Hero Motor’s list of sourcing to companies such as BMW, Harley Davidson will now include one more leading manufacturer’s name, Ducati. CMD Pankaj Munjal shared that this was a huge leap for the company and they are excited about it.
Huwaei to enhance brand building spends that equal mobile firms in India
In an effort to increase market share of 10 per cent by 2017, Huawei has said that it will increase its brand building budget to match the other mobile firms in India. The Vice President, P Sanjeev, Huwaei, said that their TV commercials have already begun. Their full page advertisements will also be issued across the top cities in the country. The branding campaigns of the company are in full swing. He also talked about the launch of three smartphones that the company will launch soon- Honor 8, Honor Holly 3, and Honor 8 Smart.
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