Chinese smartphone makers face their most challenging year since the pandemic due to skyrocketing memory chip prices. Analysts predict a nearly 14% drop in global shipments, forcing brands to absorb costs, raise prices, or reduce storage.
Chinese smartphone makers anticipate their most challenging year since the Covid-19 pandemic due to rising memory chip prices. Analysts predict a nearly 14% drop in global shipments this year, with Apple and Samsung expected to fare better than Chinese brands like Oppo, Vivo, and Transsion.
India's state-run refiners have increased retail prices for diesel and petrol by nearly 1% for the third time in a week. This move aims to reduce processor losses and manage demand spikes, with cumulative hikes now reaching 5.5% for diesel and 5% for petrol.
State-run fuel retailers will not receive government financial backing for losses incurred from selling petrol, diesel, and aviation turbine fuel below cost. Despite rising crude oil prices, the government has opted to shield consumers by not revising retail prices for these fuels, focusing instead on price adjustments for bulk diesel and commercial LPG.
Gold futures declined 0.23% on the Multi Commodity Exchange to Rs 1,52,350 per 10 grams, tracking weak global cues and softer spot demand. International gold futures fell 0.05% to $4,711.98 per ounce in New York. Retail prices across major Indian cities showed mixed trends, with Bengaluru, Chennai and Hyderabad remaining flat while Delhi, Mumbai, Kolkata, Ahmedabad, Jaipur, Bhubaneswar, Pune and Kanpur recorded marginal gains.
