look news india
A huge upheaval has been seen in the Indian electronics manufacturing sector. Till now, Amber Enterprises, mainly known for manufacturing air conditioners (AC) and its components, has now entered the country’s fastest growing smartphone market. The company has finalized a very important and big strategic deal with the world’s leading smartphone brand Oppo. As soon as this news came out, there was a stir from Dalal Street to the tech industry and big global brokerage houses immediately upgraded the investment rating of Amber Enterprises.
Mega partnership with Oppo and Amber’s master plan
Amber Enterprises had been trying to diversify its business portfolio for a long time. Under this new partnership with Oppo, Amber will manufacture smartphone components, printed circuit boards (PCB) and other important electronics parts through its subsidiaries. This deal is being considered a milestone under the ‘Make in India’ and PLI scheme of the Government of India. With the support of a big company like Oppo, Amber has got direct entry into the top tier of the smartphone supply chain.
Brokerage firms increased rating and target price
As soon as they got wind of this historic deal, stock market analysts and renowned brokerage firms have become extremely bullish on the stock of Amber Enterprises. Many leading brokerage houses have upgraded the company’s rating from ‘Neutral’ to ‘Buy’ or ‘Outperform’ category. Experts believe that by entering the smartphone segment, the company may see a bumper jump in its revenue and profit margin in the coming quarters, due to which investors are also expected to get strong returns.
Tech hubs of Noida, Greater Noida and South India will benefit
This big deal is going to have a direct impact on India’s major electronics manufacturing and tech hubs like Noida, Greater Noida, Chennai and Bengaluru. With this collaboration of Oppo and Amber, the speed of production in the manufacturing plants located in these areas will be doubled. Along with this, not only will thousands of new direct and indirect employment opportunities be created in these local markets, but the local ecosystem of component suppliers will also be greatly strengthened.
The changing landscape of Indian smartphone manufacturing
To reduce dependence on China in the global market, India is rapidly becoming the global base for smartphone manufacturing. The entry of a domestic company like Amber into the smartphone component market clearly indicates that in the coming times, parts for premium and budget smartphones will be manufactured on a large scale within the country. This will reduce dependence on foreign companies and the prices of smartphones in the Indian market may also see more competition in the coming days.