The market landscape and dynamics have changed in the past year amid the government’s investigations against electric two-wheeler manufacturers over subsidies claimed under government scheme FAME (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India). This scheme was launched in 2011 as part of the National Mission on Electric Mobility.
For the year ended March 31, the Noida-based company posted a loss of Rs 1,776.5 crore on total revenue of Rs 8,400 crore (about $1.03 billion).
The steadfastness comes as TikTok, which is owned by Chinese tech firm ByteDance, is fighting to prevent a ban in the US after lawmakers introduced a bill that would grant President Joe Biden's administration authority to ban apps that pose security risks.
Ravi Kumar S, who took over as the chief of US-headquartered IT firm Cognizant four months ago, has termed the last quarter “historic” amid a cautious macro environment.
Apple's sales for its second quarter ended April fell 2.5% to $94.84 billion, better than analyst expectations of a 4.4% decline to $93 billion, according to data from Refinitiv.
In a series of investigations last year, Reuters reported that Binance intentionally kept weak anti-money laundering controls. Since 2017, Binance has processed over $10 billion in payments for criminals and companies seeking to evade US sanctions.
Despite a dip of 11.4% in shipment, Samsung led the market with a 20.1% market share, followed by Vivo with 17.7%.