Tag: CONSUMER

Categories
Business India News Investment

Tata Consumer Products Ventures into Energy Drink Market with ‘Say Never’

Shares of Tata Group firms surge after SC verdict against Mistry

This energy drink boasts two invigorating variants, namely, Red and Blue, each designed to provide a much-needed vitality boost for those who dare to pursue their dreams…reports Asian Lite News

Tata Consumer Products (TCP), a conglomerate unifying the Tata Group’s prominent food and beverage interests, has announced a bold foray into the rapidly expanding energy drink category with the introduction of ‘Say Never Energy Drink.’ In a strategic move to diversify its product range, this beverage aims to carve a niche in the dynamic world of energy drinks by celebrating the spirit of resilience and unwavering determination.

Priced affordably at just Rs. 10 for a 200 ml cup format, ‘Say Never Energy Drink’ is tailored for individuals who exemplify relentless determination and unwavering resolve in the face of adversities. The brand seeks to pay homage to those who persist, irrespective of the challenges they confront, and continue to push their limits.

This energy drink boasts two invigorating variants, namely, Red and Blue, each designed to provide a much-needed vitality boost for those who dare to pursue their dreams.

Speaking about the launch, Mr. Vikram Grover, Managing Director of NourishCo Beverages Limited, a subsidiary of Tata Consumer Products, stated, “With this launch, we aim to inspire and energize the doers, the dreamers, and the go-getters of the world. Say Never Energy Drink is not just a beverage; it’s a symbol of empowerment, a companion for those who dare to be different. The launch enhances and complements NourishCo’s overall product portfolio, and through this, we celebrate the heroes who chart their unique paths. This affordable caffeine-based energy drink is tailored for the younger generation, and we are here to fuel their journey.”

In its initial phase, ‘Say Never Energy Drink’ will be available at retail outlets in Karnataka and North Indian markets, priced at just Rs. 10.

Tata Consumer Products Limited is a focused consumer goods company that consolidates the principal food and beverage interests of the Tata Group. The company’s portfolio includes a wide range of products such as tea, coffee, water, ready-to-drink beverages, salt, pulses, spices, ready-to-cook and ready-to-eat offerings, breakfast cereals, snacks, and mini-meals. Some of its key beverage brands include Tata Tea, Tetley, Eight O’Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water, Tata Copper+, and Tata Gluco+. The company’s food portfolio comprises brands like Tata Salt, Tata Sampann, and Tata Soulfull. With a presence in over 201 million households in India, Tata Consumer Products leverages the Tata brand’s reputation in the consumer products sector. The company has achieved a consolidated annual turnover of approximately Rs. 13,783 crores, with operations spanning both domestic and international markets. For more information about the company, visit their website at www.tataconsumer.com.

ALSO READ-Tata Motors to Divest 9% Tata Technologies Stake

Categories
Business

Huawei’s consumer business grows 2% amidst challenges

In the first half of the year, the Chinese market saw 130.9 million shipments, down 7.3 per cent year-on-year…reports Asian Lite News

Chinese conglomerate Huawei on Friday said its consumer business (which includes smartphones) rose 2 per cent to 103.5 billion yuan (over $14.3 billion) in the first half of 2023, showing definite signs of growth after substantial decline in its smartphone sales in the past two years amid the US sanctions.

In the first half of 2023, Huawei generated 310.9 billion yuan ($43.1 billion) in revenue, with a year-on-year increase of 3.1 per cent and a net profit margin of 15 per cent.

The company’s ICT infrastructure business contributed 167.2 billion yuan, its Cloud business 24.1 billion yuan, its digital power business 24.2 billion Yuan and its intelligent automotive solution (IAS) business, 1 billion Yuan.

“I would like to thank our customers and partners for their ongoing support. I’d also like to thank the entire Huawei team for its solidarity and dedication. Huawei has been investing heavily in foundational technologies to harness trends in digitalisation, intelligence, and decarbonisation, focusing on creating value for our customers and partners,” said Sabrina Meng, Huawei’s Rotating Chairwoman.

In the first half of 2023, “our ICT infrastructure business remained solid and our consumer business achieved growth”, she mentioned in the earnings report.

“Our digital power and cloud businesses both experienced strong growth, and our new components for intelligent connected vehicles continue to gain competitiveness,” Meng added.

According to the IDC’s Worldwide Quarterly Mobile Phone Tracker, 65.7 million smartphones shipped in China in the second quarter this year, a narrower decline of 2.1 per cent compared to the same period last year.

In the first half of the year, the Chinese market saw 130.9 million shipments, down 7.3 per cent year-on-year.

Huawei reached the top 5 again by having a tie with Xiaomi. The return of Huawei was mainly supported by a better product launching pace as well as the favourable sales performance of its P60 series and foldable Mate X3 model.

Huawei and Apple were the only vendors with a positive YoY growth in the Top 5 ranking, as the price discounts of Apple’s iPhone 14 series successfully stimulated the demand, according to the IDC report.

ALSO READ-Lulu Launches Celebrations Of India

Categories
Business India News

Indian consumer brands brace for price hike

According to Anand Dubey, CEO, Indkal Technologies Pvt Ltd, since the pandemic started, the industry has been experiencing issues in the supply chain…reports Asian Lite News

Consumer electronics manufacturers on Thursday said that owing to hike in raw material costs and shipment delays amid lockdowns in China, they have no option but to increase prices of consumer goods by 5-7 per cent soon for the Indian consumers.

The electronics industry worldwide continues to face raw material shortage given the ongoing Covid situation in China.

“In the near future, we do see a grim scenario in India if the current, 4-5 weeks delay in shipments continues,” Avneet Singh Marwah, CEO of Super Plastronics Pvt. Ltd (SPPL), told.

“The shortage of raw materials has caused major instability in prices and as a company, we will also have to hike our prices by 5-7 per cent,” he added.

Smartphones, laptops, TVs, ACs as well as imported watches are set to get costlier. Industry experts said prices of these consumer goods could even go up to 10 per cent.

According to Anand Dubey, CEO, Indkal Technologies Pvt Ltd, since the pandemic started, the industry has been experiencing issues in the supply chain.

“The Russia-Ukraine war has only aggravated the problem as these countries are two of the largest producers of key minerals used in the manufacturing of chips,” Dubey told IANS.

“In fact, a prolonged period of war could result in further distress and complexities. While we have been taking many tactical measures to keep a check on the price impact of all these issues, it remains a challenge to sustain current prices,” Dubey added.

The electronics sector has already been raising prices by 2-3 per cent every quarter owing to the Covid-19 pandemic.

With supply chain disruptions, fast-moving consumer goods (FMCG) companies have also been forced to increase the prices of daily-use products.

Lockdowns in China have delayed shipments across industries and consumer electronics has taken the maximum hit.

In June and July, India will see major annual sales being held by e-commerce platforms.

Experts are worried that the ongoing crisis can even spill over to the festive sales season.

“This will definitely hit the overall demand for the sector as India is a price-sensitive market. Until stability is brought about, the end consumer will continue to see a rise in price of most products,” said Marwah of SPPL, an exclusive brand licensee of THOMSON in the country.

ALSO READ-Indian semiconductor sector target $110 billion by 2030