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ETtech Explainer: Inside Amazon’s victory against Future Group in Reliance deal - The Economic Times
Economic Times
·
2m ago
Medial
Amazon won a legal battle against Future Group, as the Singapore International Arbitration Centre ruled Future violated a contract by selling its retail business to Reliance in 2020. Despite investing $200 million in Future, Amazon was awarded only Rs 23.7 crore in damages, far less than its Rs 1,436 crore claim. The battle stemmed from Amazon's contractual right to block Future's sale, highlighting tensions in India's competitive retail landscape.
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Singapore International Arbitration Centre rules in favour of Amazon in Future Group case - The Economic Times
Economic Times
·
2m ago
Medial
The Singapore International Arbitration Centre ruled in favor of Amazon, stating Future Group's deal with Reliance Retail violated an agreement with Amazon. Future Retail's approval to sell assets to Reliance breached the contract. While Amazon sought ₹1,436 crore in damages, the tribunal awarded ₹23.7 crore, payable by promoters including Kishore Biyani, with interest. The case stemmed from Amazon’s 2019 acquisition of 49% in Future Coupons, giving it rights that the Reliance deal infringed upon.
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ETtech Explainer: Oura vs Ultrahuman—what’s at stake in the smart ring patent battle
Economic Times
·
4m ago
Medial
Oura, a Finnish healthtech firm, scored an early legal victory against Indian startup Ultrahuman and Chinese brand RingConn in a patent case over smart ring technology. An initial ruling found the rival products infringed on Oura's patents. The decision could lead to a US import ban on Ultrahuman and RingConn rings, hindering their market expansion. Oura claims its patented sleep and health tracking technology was copied, with a final decision expected by September 2024.
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ETtech Explainer: Inside India's iPhone dreams — The story so far
Economic Times
·
4m ago
Medial
Apple is pivoting iPhone production towards India amidst U.S.-China trade tensions and tariffs, which complicate plans to move manufacturing from China. Although Foxconn and Tata Electronics are expanding in India under the PLI scheme, China still dominates Apple's production. The U.S. push for domestic production faces cost issues, with American-assembled iPhones being significantly more expensive. Apple's shift to India is contingent on evolving trade agreements and navigating delays from China regarding production equipment.
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India's ability to prepare for tech-driven wars to decide country's future: Adani at IIT Kharagpur - The Economic Times
Economic Times
·
12d ago
Medial
Adani Group chairman Gautam Adani, speaking at IIT Kharagpur’s 75th Foundation Day, emphasized India's vulnerabilities in energy, semiconductors, data, and defense. He highlighted the transition from conventional wars to technology-driven conflicts, stressing India's preparedness in these areas as crucial for the nation's future. Adani noted India's heavy reliance on imported semiconductors and oil, which exposes the country to geopolitical risks and affects data security and economic independence.
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ETtech Explainer: CCI's antitrust probe into Amazon, Flipkart
Economic Times
·
7m ago
Medial
The Supreme Court transferred petitions about alleged anti-competitive practices by Amazon and Flipkart to Karnataka High Court. The case began in 2019 when traders accused the ecommerce giants of favoring certain sellers, engaging in deep discounting, and exclusive product launches. The Competition Commission of India initiated a probe, concluding in 2023 with accusations against both companies. Amazon and Flipkart disputed the findings in various courts, challenging the investigation's legitimacy due to inadequate evidence.
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ETtech Explainer: Differentiating section 69A & 79 amid X row
Economic Times
·
5m ago
Medial
Sections 69A and 79 of India's IT Act serve distinct functions. Section 69A allows the government to block information access with set procedures, safeguarding against arbitrary use. Section 79 offers intermediaries a 'safe harbour' from liability for third-party content under certain conditions. The controversy arises from claims that the government misuses Section 79 to issue blocking orders, allegedly bypassing Section 69A's safeguards, leading to potential arbitrary censorship, as contended by X Corp in court.
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ETtech Explainer: Behind Apple’s search for Indian iCamera maker
Economic Times
·
1y ago
Medial
Apple is reportedly in advanced discussions with the Murugappa Group and Tata group's Titan Company to assemble and manufacture sub-components for iPhone camera modules. Camera modules are composed of various components such as lenses, image sensors, and digital signal processing. While some components can be localized, others, like camera lenses, may be difficult to replace. Currently, Apple relies on suppliers like Sony, Samsung, and Omnivision for image sensors. The move towards localizing camera module assembly in India could potentially attract manufacturers to build a complete local value chain.
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Apple Watch not a 'CO2-neutral product', German court finds - The Economic Times
Economic Times
·
4d ago
Medial
A German court has ruled that Apple cannot market the Apple Watch as "CO2-neutral" in Germany due to misleading claims regarding carbon neutrality. Apple based its claim on a project in Paraguay planting eucalyptus trees to offset emissions. However, the court found that most land leases were not secured beyond 2029, casting doubt on project continuity. Environmental group Deutsche Umwelthilfe hailed the decision as a victory against "greenwashing." Apple has the option to appeal the ruling.
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ETtech Exclusive: Inside the cash crisis, big valuation cut at Lendingkart
Economic Times
·
10m ago
Medial
Lendingkart, an MSME-focused lending platform, is facing a valuation cut due to a cash crisis and stress in the unsecured loan market. The company is negotiating a new funding deal with existing investor Fullerton Financial Holdings at a valuation of $100 million, down from $350 million in its last equity fundraise. Fullerton is looking to increase its stake in the company to more than 60% and become a majority shareholder. Lendingkart had shown a turnaround in FY23, but its financial position has deteriorated, impacting its ability to attract new funding.
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ETtech Explainer: X, Centre at loggerheads over social media misuse - The Economic Times
Economic Times
·
1m ago
Medial
The Indian government and Elon Musk's platform X are in a legal dispute over content-blocking orders, with X claiming these orders harm its business and violate free speech. The government argues for accountability to curb harmful content. The case questions the Information Technology Act's provisions regarding content removal and intermediary "safe harbour." The dispute impacts how social media moderates content in India, potentially leading to revised regulations affecting all platforms, not just X.
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