Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Tuesday, February 16, 2021 8:17:59 AM
By: Reuters | February 16, 2021
NEW DELHI (Reuters) - Amazon.com Inc (NASDAQ:AMZN) will start making its TV streaming device in India this year via a unit of Taiwanese contract manufacturer Foxconn, the U.S. online retail giant said on Tuesday.
The Fire TV Stick will be made by Foxconn subsidiary Cloud Network Technology in the southern city of Chennai, marking the first time one of Amazon's devices will be manufactured in India.
Amazon said hundreds of thousands of Fire TV Sticks would be produced annually, helping it to meet demand from Indian customers.
"Amazon will continuously evaluate scaling capacity to additional marketplaces/cities depending on the domestic demand," the company said in a blog post.
The launch of conglomerate Reliance's telecoms venture Jio in 2016 began an era of cheap data tariffs in India, aiding the growth of video and audio streaming services such as Netflix (NASDAQ:NFLX) and Amazon's Prime Video.
That in turn created a market for streaming devices such as the Fire stick.
Seattle-based Amazon's move to make the device in India coincides with Prime Minister Narendra Modi's push to make the country a hub for electronics manufacturing to compete with the likes of China and Taiwan.
New Delhi's local manufacturing drive has persuaded iPhone makers Foxconn and Wistron to expand in India. Pegatron, another big contract manufacturer, has also set up base in the country.
The push has also helped India to become the world's second-biggest mobile phone maker.
India's technology minister Ravi Shankar Prasad on Tuesday welcomed Amazon's move, adding that "Amazon should also work with small local shops and make them a stakeholder in the larger efforts of Amazon to grow its business".
Last week India's trade minister said the government was looking into foreign investment rules on e-commerce to ensure that the industry followed the spirit of the regulations and maintained a level playing field for all sellers on online platforms.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent AMZN News
- Apollo Eyes $5 Billion Investment in Intel; TSMC and Samsung Explore UAE Chip Projects, and More • IH Market News • 09/23/2024 10:32:25 AM
- Nike Shares Surge 7% Pre-Market as Elliott Hill Becomes CEO; FedEx Shares Tumble 13% After Profit Miss • IH Market News • 09/20/2024 10:02:58 AM
- AIG names new CFO; Progyny Drops 24% After Losing Key 2025 Contract; Exicure Jumps 190% With Nasdaq Extension • IH Market News • 09/19/2024 10:26:48 AM
- Buy with Prime and Amazon Multi-Channel Fulfillment Expand with New Capabilities and More Brands • Business Wire • 09/18/2024 02:34:00 PM
- Meta Strengthens Child Privacy on Instagram; Google Overturns $1.7 Billion Antitrust Fine; Snap Updates Spectacles • IH Market News • 09/18/2024 10:13:07 AM
- Microsoft Boosts Share Buyback, Raises Dividends by 10%, Intel Secures Chip Deal with Amazon • IH Market News • 09/17/2024 10:40:35 AM
- Prime Big Deal Days is Back October 8-9—Offering Prime Members Exclusive Access to Millions of Early Holiday Deals • Business Wire • 09/17/2024 05:00:00 AM
- Intel and AWS Expand Strategic Collaboration, Helping Advance U.S.-Based Chip Manufacturing • Business Wire • 09/16/2024 08:01:00 PM
- Cellebrite Enhances Investigative Analytics Solution with Amazon Web Services (AWS) • GlobeNewswire Inc. • 09/16/2024 12:30:00 PM
- Intel Secures $3.5 Billion Subsidy, Stellantis Backs EU Emissions Targets, BP and Apollo Reach $1 Billion Deal • IH Market News • 09/16/2024 10:03:27 AM
- OpenAI Unveils Strawberry AI Model Series; Boeing Stock Falls 4% Amid Strike; HR Surges 20% on Growth Forecast • IH Market News • 09/13/2024 10:12:55 AM
- Amazon Music Live Returns for Season Three with Series Premiere from Jelly Roll on October 17 • Business Wire • 09/13/2024 12:03:00 AM
- Norfolk Southern CEO Fired, Ryanair Lowers Fare Forecast, 23andMe Considers Acquisition Proposals • IH Market News • 09/12/2024 10:02:29 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/11/2024 11:07:18 PM
- GameStop plunges 11% on stock offering, DJT drops post-debate, GSK fails shingles vaccine trial • IH Market News • 09/11/2024 10:25:41 AM
- ADDING MULTIMEDIA National Football League and Amazon Web Services Expand Partnership to Further Shape the Future of Football • Business Wire • 09/10/2024 03:23:00 PM
- National Football League and Amazon Web Services Expand Partnership to Further Shape the Future of Football • Business Wire • 09/10/2024 02:00:00 PM
- Amazon Fresh Introduces New Grocery Savings for Prime Members • Business Wire • 09/10/2024 07:15:00 AM
- Broadcom Down 10% Post-Earnings, UiPath Up 8%; Qualcomm Eyes Intel Assets; Salesforce Acquires Own Company • IH Market News • 09/06/2024 11:59:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 08:20:13 PM
- Central Japan Railway Company Selects AWS for Yamanashi Maglev Line to Drive Efficient Operations for its Next-Generation, High-Speed Train Service • Business Wire • 09/05/2024 05:02:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 08:26:21 PM
- Intuitive Machines Soars 18% on NASA Contract, Intel Considers Splitting Operations, Dell Reassesses Selling SecureWorks • IH Market News • 08/30/2024 10:00:08 AM
- Big Lots Falls 27%, Considers Bankruptcy; DraftKings Acquires Simplebet, Berkshire Hits $1 Trillion • IH Market News • 08/29/2024 10:06:50 AM
- AWS Parallel Computing Service is Now Generally Available, Designed to Accelerate Scientific Discovery • Business Wire • 08/28/2024 07:23:00 PM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM