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Samsung, LG, Vivo, others brace for sale crash as lockdowns dwindle demand

Samsung, LG, Vivo, others brace for sale crash as lockdowns dwindle demand
Many companies, including giants like Apple and Samsung, even export their electronic parts and products out of India. At current production capacity, they can only cater to demand from global markets
BusinessToday.In | May 20, 2021 | Updated 12:47 IST
Though the Centre has refrained from imposing nationwide lockdown like last year, state-wise lockdown curbs have hurt businesses hard
Big electronic brands in India are bearing the brunt of the second Covid-19 wave as lockdowns and curbs around online selling of non-essential products in most states lead to a crash in sales. As India struggles against the wrath of Covid-19 wave, most top electronic companies such as LG, Panasonic, Carrier Midea, Vivo, Oppo, Haier and Godrej have either shut their plants or have cut down on production significantly. ....

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Avenue Supermarts revenue jumps 18% YoY in Q4

The retail-chain operator said its standalone revenue from operations in Q4 March 2021 stood at Rs 7,303.13 crore compared with Rs 6,193.53 crore in the same period last year, recording a growth of 17.91% Y-o-Y.
As of 31 March 2021, the total number of stores stood at 234. During FY 2020-21, Avenue Supermarts opened 22 new stores and converted 2 stores into fulfilment centers for Avenue E-commerce.
The company added that its two years and older stores growth for the months of January-February 2021 was 6% as compared to same period last year. These stores saw a negative growth of 9.4% for the first 15 days of March 2021 as compared to first 15 days of March 2020. This is primarily due to full or partial lockdowns implemented from the start of March 2021 across cities due to increase in COVID-19 cases. The second fortnight of March 2021 shows significant growth as compared to same period last year. This is because of a lower base in the same period last year as lockdown mea ....

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