According to reports, the government has waived basic customs duty on certain goods that are used to make mobile phones and other electronic devices, removing the current 7.5% and 5% levies.

The items on which the customs duty is removed include: wireless charging modules for mobiles, displays for medical devices and automobiles, and lithium-ion cells. It is said that the exemption will be valid until 31^st March, 2029. This step is expected to boost cost competitiveness, domestic value addition and localisation of high-value smartphone and electronics manufacturing.

The decision is also expected to benefit global manufacturers like Apple and Xiaomi, who have recently expanded their production operations in India.

Other than this, Dixon Technologies has recently announced via its stock exchange listing that the Indian government has approved the Vivo-Dixon joint venture.

Dixon and Vivo entered into a agreement in 2024 to form a joint venture to undertake original equipment manufacturer business of electronic devices including smartphones. Yesterday, it was revealed that the Indian government has given its approval to this joint venture on 8^th July. The joint venture company (JV Co.) will have the following shareholding: Dixon- 51% and Vivo Mobile India- 49%.

The venture will manufacture smartphones and other electronic devices as an original equipment manufacturer in India and will undertake Vivo’s smartphone productions orders in India, while it will also be able to manufacture electronic products for other brands.

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Despite these record-breaking figures, things seem not to be going well at Samsung’s DX division, which is responsible for Samsung’s TVs, home appliances and smartphones.

On the day Samsung announced these results, a post appeared on Samsung’s internal community, NOW TALK, with an image of a funeral wreath tied with a black ribbon and the message, “May the late Samsung Electronics DX Division rest in peace.”

Reportedly, the employees at the DX Division believe that in the AI semiconductor era, the DS Division has become the biggest winner, while the DX Division is gradually being pushed to the sidelines. A large number of employees have complained about the bonus gap, resource allocation, and internal inequality between the two divisions.

According to a report by MAEIL BUSINESS, one employee complained that, “Samsung Electronics says profits have risen sharply, but the more the company earns, the more our division’s profits fall and our bonuses shrink. It feels like we are in an enemy company. The company needs to see its performance crash and its profits collapse so we can survive.”

Meanwhile, another employee urged colleagues to slow down the work, mentioning, “Don’t work overtime, spend more time chatting, write reports carelessly, and stop looking for extra tasks.” The employees have also criticised the head of the DX Division, Roh Tae-moon.

Apart from these online complaints and posts, it is also revealed that the Samsung Electronics Labor Union Donghaeng (union centered on DX Division) plans to hold a rally of union members near the Samsung Electronics Suwon plant on 16^th July. The union will hold a rally demanding that management come up with measures regarding the results of the 2026 wage negotiations.

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The report argues that the current uniform 18% GST on smartphones no longer reflects the evolving role of smartphones in India’s digital economy.

Read more about it below.

New Whitepaper Calls for GST Relief on Smartphones Priced Under INR 25K

As per the newly released whitepaper, the government should consider bringing tax relief for smartphones priced under INR 25K. Currently, all smartphones are subjected to 18% GST, irrespective of their pricing. However, the report suggests that smartphones under the INR 25K segment should be brought under the 5% GST tax slab.

Speaking more, the report highlights that this move “would improve affordability for first-time buyers and price-sensitive consumers while supporting the government’s objectives of Digital India, financial inclusion and electronics manufacturing.” It further adds that smartphones priced above the INR 25K segment should continue to remain under the existing 18% GST slab.

The report also mentions that the sub-INR 25K smartphone segment caters to around two-thirds of Indian smartphone shipments. This segment primarily serves first-time buyers, rural households, women, students, and lower-income consumers. The GT Bharat-PWIF study also adds that nearly 35 crore Indians continue to use feature phones, suggesting that affordability still remains a significant barrier to wider digital participation in the country.

To add, the report points out that countries such as Vietnam, Thailand, Indonesia, and Malaysia have adopted relatively lower tax structures, which support wider smartphone adoption while also maintaining manufacturing competitiveness.

What is worth noting is that smartphone prices in India have already started rising due to the ongoing component pricing issue, and brands have also started announcing frequent price hikes across different segments. With phones under INR 25K also getting affected, affordable smartphones may soon become even harder to purchase for price-sensitive customers.

However, it is currently not known as to how the Indian government will respond to this whitepaper and whether any GST-related relief will be considered for affordable smartphones in the coming days.

Stay tuned for more updates.

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Well, a lawsuit has again been filed against South Korean tech giant Samsung and two big DRAM manufacturers- SK Hynix and Micron in the US.

Lawsuit filed against Samsung, SK Hynix and Micron in the US

We are all aware of the rising costs of components (memory and storage chips). This is because there is a high demand for memory and storage chips by the AI manufacturers, resulting in their shortage and increasing prices. The current situation is now affecting consumers as well, and reports continue to suggest it may worsen in the future.

It is now reported that due to this ongoing situation, various consumers have filed a private class-action lawsuit in the US against Samsung, SK Hynix and Micron.

The lawsuit ‘3:26-cv-06345” will be headed by Judge Noel Wise in the US District Court for the Northern District of California. The lawsuit allegedly claims that the three companies have increased prices by artificially creating shortages in the industry, and the filers have demanded compensation from the companies.

The parties who have filed the case include Marc Garciaguirre, Tyree Burnett Jr., Joseph Flores, Rodolfo Gurrola Jr., Brook Barclift, Theo Papulis, Paul Henning, Jeff Ramirez Ochoa, Troy’s Computers LLC, JB Tech Solutions LLC, Evan Feliciano, Wastenotime Developments Performance Fabrications, Brian Graber, Joseph Danson, John Prineas, Thomas Yu, and Donald Barber.

Though this time there is no foul play by the companies in the increased prices and shortages, as there are indeed high demands from the AI manufacturers due to which many tech companies are already trying to curb the increasing cost or looking for alternative solutions.

Reportedly, Samsung, SK Hynix and Micron have also claimed that they are working on the construction of additional fabs and production lines to expand supply to meet the high demands.

Let’s see what the court decides on this lawsuit filed against the companies. Stay tuned for all the updates.

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Check out more about the update below.

CRED – Meta Investment and Leadership Change

As officially announced by CRED founder Kunal Shah via his LinkedIn profile, the company has raised another $900 million from Meta in primary and secondary capital. Reuters has also reported that CRED is raising around $900 million from Meta at a post-money valuation of $4.5 billion.

Speaking more, Shah also clarified that Meta is coming in as a minority investor in CRED and will not have access to member data. This is an important clarification, considering CRED’s user base and its position in India’s fintech ecosystem.

With this development, Kunal Shah is stepping away from his operating role at CRED, while continuing as a shareholder. Miten Sampat, who has been heading strategy and finance at CRED, will now step in as the interim CEO. Shah mentioned that Sampat has been associated with him since 2020 and will be leading the company along with the existing team.

Kunal Shah’s CRED Journey

In his post, Kunal Shah also reflected on his journey from exiting FreeCharge to building CRED. He shared that after exiting FreeCharge, he spent time learning and investing, while also thinking about why trust could not be rewarded. This eventually led him to start CRED with $1 million of his personal capital.

The company was launched with the aim of rewarding users for paying their credit card bills on time. Over the years, CRED grew from 0 to 17 million members, built multiple products during the COVID lockdowns, raised over $900 million from global investors, and also carried out four ESOP buybacks.

Shah also mentioned that CRED has scaled from 0 to around $325 million, or nearly ₹3,200 crore, in annual revenue across payments, lending, insurance, commerce, wealth, and credit cards. In 2026, the company also recorded its first profitable quarter and has now announced its fifth ESOP buyback.

Kunal Shah to Lead WhatsApp Globally

As for his next move, Kunal Shah has confirmed that he will be joining Meta to lead WhatsApp globally. The same development has also been reported by Reuters, which mentioned that Shah will become the new leader of Meta-owned WhatsApp.

In his announcement, Shah stated that while WhatsApp has already come very far, the difference between where it stands today and its full potential remains massive. He also said that he looks forward to working with Mark Zuckerberg, Chris Cox, and the leadership team across Meta for the next step in WhatsApp’s journey.

This marks a major leadership change not just for CRED, but also for WhatsApp, one of the world’s most widely used messaging platforms. For CRED, the new Meta investment and leadership transition signal its next phase of growth, while for Kunal Shah, this becomes another major chapter after FreeCharge and CRED.

Overall, this is indeed an interesting turnaround for CRED, as the company that was once questioned for its business model has now reported profitability, raised another major funding round, brought Meta as a minority investor, announced another ESOP buyback, and is seeing its founder move on to lead WhatsApp globally.

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The South Korean chipmaker SK Hynix overtook Samsung Electronics in market value today and has become the most valuable listed company in South Korea.

Reportedly, the shares of SK Hynix closed up 5.6%, lifting its market capitalisation to 2,080.4 trillion won, whereas Samsung’s stock rose 0.14% to give it a market value of 2,066.7 trillion won, excluding preferred shares.

It is said that the emergence of customised AI memory fundamentally changed the industry’s economics and allowed SK Hynix to establish itself as the market leader. SK Hynix, along with rivals Samsung and Micron, is among the only major producers of HBM chips used in advanced AI processors. As per reports, strong demand for AI servers and HBM has directly boosted the company’s earnings prospects and valuation.

Samsung’s shares have risen nearly 200% so far this year, but SK Hynix has overtaken the company with 340% rise over the same period. These results have turned out to be a great milestone achievement for SK Hynix, as in 2002, the company was under debt and was about to be acquired by Micron Technology, but was then left under creditors’ control for years.

Although Samsung is still above SK Hynix in total market capitalisation, once its preferred shares are included.

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Global Smartphone Chipsets Market Share Results for Q1, 2026

Among the chipset makers, MediaTek has continued to maintain its top position in the market, though the overall shipments declined YoY in Q1, 2026. In Q1, 2025, the overall shipments were 38%, while in Q1, 2026, the shipments declined to 32%. According to Counterpoint, shipments in the mainstream and entry-level segments were impacted due to memory shortage, while premium-tier shipments also witnessed a slight decline. It is said that MediaTek is unlikely to launch the Dimensity 9500+ SoC, and OEMs are expected to adopt the Dimensity 9500 SoC. In Q1 2026, shipments were driven by the Dimensity 8450 SoC, supported by the strong performance of the Oppo Reno 15 series.

Qualcomm’s shipment also declined YoY by 4% in Q1, 2026. Premium segment shipments were impacted, while shipments of the Snapdragon 400 and 600 series were also affected due to the ongoing memory shortage.

Apple’s chipset shipment witnessed an increase in Q1 2026. As per the report, there are two reasons for this result: the launch of the iPhone 17e that features Apple’s A19 SoC and increased sales for the iPhone 17 series, especially the Pro models.

UNISOC’s shipments have also increased YoY in Q1, 2026. The company’s LTE segment was supported by design wins for the T7250, and in the entry-level 5G segment, gained share due to T8300 design wins with leading smartphone OEMs. Meanwhile, Samsung’s chipset shipments also increased YoY in Q1, 2026. The shipments were driven by Exynos 2600 (Galaxy S26 series base variants), Exynos 1680 (Galaxy A57) and Exynos 1480 (Galaxy A37).

Then, at the last spot is HiSilicon, whose shipments declined YoY in Q1, 2026. The premium-segment shipments increased due to the Huawei Mate 80 series, whereas the mid-tier segment declined.

The post Global Smartphone Chipsets Market Share results for Q1 2026 revealed by Counterpoint; MediaTek continues to stay at the top position appeared first on The Tech Outlook.

It is said that Samsung Electronics is considering using BOE products for the OLED panels of the standard Galaxy S27 model, and this visit might accelerate the company’s decision. Previously, Samsung has only used its own displays on its flagship models, while BOE’s OLED panels were used in Samsung’s budget smartphones.

According to a Korean publication, ETNews, an insider familiar with the matter has said that BOE expects President Roh to present the opportunity to supply OLED panels for the Galaxy S27as a gift through this visit.

Also, due to the rising memory semiconductor prices, Samsung is expected to lower the prices of other components for its flagship models. Meanwhile, BOE also wants to validate its quality by supplying to the flagship models of global clients. Looking at these factors and the upcoming visit, it is expected that we may see BOE’s OLED panel in the Galaxy S27 series base model.

Apart from this, it is also expected that President Roh may discuss about the return of BOE’s LCD panels on Samsung TVs, as earlier BOE was Samsung’s largest supplier of LCDs for TVs, but due to a patent issue, transactions with BOE were halted in 2024. However, last year, both companies resolved their issue.

Stay tuned with The Tech Outlook for the latest tech updates.

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Reportedly, SpaceX’s IPO has boosted Musk’s total net worth to an estimated $1.1 trillion. It is revealed that SpaceX raised a $75 billion in its initial IPO from investors and underwriters of the deal before shares of the company hit the open stock market yesterday. As per calculations, Musk is said to have shares in SpaceX worth $767.1 billion at the close of trade, and he has another $53.8 billion in SpaceX options. Meanwhile, he has $168 billion in Tesla shares and a further $116.4 billion in Tesla options.

Apparently, Musk’s net worth is larger than the national GDP of several major countries like Ireland, Taiwan and Sweden. And this does not even include his other ownership stakes, such as in Neuralink and The Boring Company.

Apart from Musk, SpaceX’s public listing is expected to have made millionaires of more than 4,400 of its current and former staff through the shares in the company they had been given as part of their pay.

Stay tuned with The Tech Outlook for the latest tech updates.

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Read more about it below.

Opendoor Announces Winding Down of Business in India

We recently saw several companies, including Amazon, taking steps to reduce their workforce and restructure their business operations in order to manage expenses and bring their teams closer to their main markets. We now have Opendoor, the American real estate company, announcing that it will be winding down its India-based operations as part of its Opendoor 2.0 restructuring.

In a post shared on X, Opendoor CEO Kaz Nejatia has mentioned that when the company had launched Opendoor 2.0 a few months ago, it had nearly 250 employees in India. Over the past few months, some of these roles had already been moved back to the United States.

As per what the CEO has pointed out, Opendoor is now finalizing the process of bringing these roles closer to its customers in America, while also beginning the process of winding down its India-based operations.

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With this decision, all of Opendoor’s colleagues in India who had contributed to the company’s work will be affected. However, the CEO has also clarified that this move is not a reflection of the quality of work done by the India team.

He further mentioned that the company is grateful for the dedication and meaningful work of its India-based employees, and has also recommended them to anyone who is hiring.

Speaking more about the reason behind this move, Opendoor has noted that its customers are based in America, and the operational work done for them is best handled closer to them.

The company has also mentioned that it is moving towards smaller AI-native customer-facing teams in the United States, while simplifying its operations with fewer tools, fewer steps, and fewer workarounds.

For the affected employees in India, Opendoor will be providing transition packages, which will include severance, outplacement services, and other resources. A small number of team members will continue with the company for now to complete the transition of key workstreams.

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