Vivo Expands Retail Presence In Delhi-NCR With New Store In Gurugram
The store provides a premium environment with expert assistance, allowing visitors to experience Vivo’s innovative features and design philosophy up close
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Smartphone Slump Continues, Global Shipments Down 7.8% Despite Market Recovery Hopes
- by BW Retail World Bureau
- April 16, 2024
Global smartphone shipments dipped 7.8 per cent year-over-year in the first quarter of 2024, according to data released today by the International Data Corporation (IDC). This decline comes despite cautious optimism expressed by major brands about a market recovery. The report, IDC’s worldwide quarterly mobile phone tracker, showed total shipments reaching 289.4 million units in […]
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Huawei Outpaces Apple And Domestic Rivals Despite US Sanctions
- by BW Retail World Bureau
- February 7, 2024
In a surprising turn of events, Huawei Technologies has reclaimed the No. 1 spot in China’s smartphone market during the first two weeks of this year, according to a recent report by research firm Counterpoint. This marks a significant milestone for the Shenzhen-based company, as it’s the first time since facing US sanctions in May […]
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Indian Smartphone Market Sees Rebound With 20% YoY Growth In Q4 CY2023
- by BW Retail World Bureau
- January 23, 2024
Indian smartphone vendors experienced 20 per cent year-on-year (YoY) rebound in Q4 2023, propelled by robust demand during the festival season, according to the latest Canalys research. The quarter saw a total of 38.9 million units shipped, showcasing the resilience of the market in the face of challenges. Maintaining its leadership, Samsung claimed the top […]
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Delhi Court Delays Decision On Bail For Lava MD In Vivo Money Laundering Case
- by BW Retail World Bureau
- January 10, 2024
A court in Delhi on January 8 reserved its order on the bail application of Hari Om Rai, the managing director of Lava International, who was arrested in a money laundering case involving Chinese smartphone maker Vivo. Additional Sessions Judge Kiran Gupta has reserved the bail plea order for 12 January after hearing arguments from […]
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China Backs Detained Vivo Employees, Calls For Fair Treatment
- by BW Retail World Bureau
- December 26, 2023
China has pledged to provide consular protection and assistance to two Chinese employees of smartphone maker Vivo who were recently arrested by Indian authorities. The foreign ministry spokesperson, Mao Ning, emphasised China’s firm support for Chinese companies in safeguarding their lawful rights and interests. He urged India not to discriminate against Chinese companies and expressed […]
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ED Files Chargesheet Against Vivo, Lava MD, Others In Money Laundering Case
- by BW Retail World Bureau
- December 7, 2023
Enforcement Directorate has filed its main Prosecution Complaint (Chargesheet) in connection with a Prevention of Money Laundering Act (PMLA) case connected to the Chinese mobile phone company Vivo in Delhi’s Patiala House Court. The chargesheet was filed against Chinese national Guangwen Kuang, Andrew, the MD of Lava International Hariom Rai, and two other individuals Nitin […]
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Indian Govt To Investigate Vivo For Alleged Financial Irregularities
- by BW Retail World Bureau
- December 4, 2023
The Ministry of Corporate Affairs (MCA) is likely to investigate Chinese smartphone manufacturer Vivo under a Serious Fraud Investigation Office (SFIO). Vivo has already been accused by the Enforcement Directorate (ED) of laundering, a leading media house reported on Saturday from people familiar with the matter. The ministry has instructed Vivo’s regional director to conduct […]
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Lava’s MD Moves Bail Plea, Says No Direct Or Indirect Control Over Vivo’s Business
- by BW Retail World Bureau
- November 30, 2023
The Managing Director of Lava International, Hariom Rai, has moved a bail petition in the trial court, stating that the allegations made against him are false and absurd. He has no direct or indirect control over Vivo’s business, nor has he derived any monetary benefit, nor has he engaged in any transaction with Vivo or […]
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Lava Appoints Sunil Raina As Interim MD Following Co-founder’s Arrest
- by BW Retail World Bureau
- November 8, 2023
Lava, the homegrown mobile phone brand, has named Sunil Raina as the interim managing director, effective immediately, following board approval. This decision follows the arrest of co-founder and managing director Hari Om Rai in a money laundering case investigated by the enforcement directorate. Upon this promotion, Raina is set to become a full-time director pending […]