Weekly Market News No. 1 June 2023
NO. 1 JUNE 2023
Xiaomi to Make Wireless Audio Products in India
Amid a previous dip in demand for consumer electronics, Xiaomi Corp's Indian arm, has announced a shift in strategy by partnering with electronics manufacturer Optiemus to start producing wireless audio products in India. This move aims to localize Xiaomi's operations and increase the production of locally sourced components by 50% by 2025.
Xiaomi India will initiate production of its first locally manufactured audio gadget at Optiemus Electronics' factory in the northern state of Uttar Pradesh. This move by Xiaomi follows a trend among smartphone manufacturers who are increasingly establishing production facilities in India. Giants like Apple and Samsung have already set up their manufacturing plants in the country, along with their suppliers and vendors.
The shift towards India as a manufacturing base can be attributed to various factors. Firstly, the availability of state-backed production-linked incentives (PLIs) has attracted original equipment manufacturers (OEMs) to invest in India. Additionally, the geopolitical tensions between Washington and Beijing have prompted global players to reconsider India as a manufacturing hub, offering an alternative to China.
This development comes at a time when Chinese smartphone makers, who once dominated the Indian smartphone market, have been surpassed by South Korean OEM Samsung.
Hanmi Semiconductor Sets Up Local Corporation in Vietnam
South Korean chip equipment maker Hanmi Semiconductor Co. has established a local subsidiary, Hanmi Vietnam, in the Bac Ninh region. This move reflects Vietnam's growing status as a major production hub for global semiconductor companies. Vietnam's political stability, abundant human resources, and easy access to the Asian high-tech supply chain are drawing increased interest from semiconductor firms worldwide. Hanmi Semiconductor Co. aims to leverage these advantages by setting up a subsidiary in Bac Ninh, capitalizing on Vietnam's favorable business environment and contributing to the flourishing semiconductor industry in the region.
The Biden administration in the United States has unveiled an updated roadmap, offering a comprehensive plan for targeted AI research and development. In a detailed 56-page report, the administration lays out its priorities for federal investments, with a strong emphasis on responsible AI research. The report highlights key objectives, including the advancement of AI hardware to unlock its full potential, as well as the development of AI technologies aimed at enhancing the performance of existing hardware. With this roadmap, the administration seeks to pave the way for groundbreaking advancements in the field of AI while ensuring ethical and responsible practices are upheld.
Keysight Technologies has unveiled a new midrange vector network analyzer (VNA) that offers high-speed and precise error vector magnitude (EVM) measurements. The company claims that this advanced VNA can sigBiden-nificantly expedite the characterization of 5G component designs by up to 50%, streamlining the development process.