Category: Communications

LG Electronics India, the Indian arm of the South Korean major, is likely to file the updated draft red herring prospectus (UDRHP) for its Rs 15,000 crore IPO with the market regulator Sebi early next month, according to sources.

Following this, it is aiming to hit the Dalal Street later the same month.

The sources also stated that Cho Joo-wan, chief executive of LG Electronics, would visit the country and attend the listing day event.

In response to FE’s query, a spokesperson of the company said, “We do not comment on market speculation or rumours.”

The company has already conducted roadshows to attract investors for the IPO. It had received Sebi’s approval for the IPO in March this year.

The company would raise around Rs 15,000 crore through the IPO, which would be an offer for sale by its parent. LG Electronics will be offering a 15% stake in the Indian unit.

Some experts have suggested that the company may raise money at a lower valuation, given the recent market volatility. However, it would become clear only once the UDRHP is filed.

The IPO is expected to accelerate the company’s expansion into other countries in Asia and Africa, reducing its reliance on North America following the announcement of hefty tariffs on imports by the USA last week.

In a recent speech, Cho said, “We want to be a national brand in India. We’ll turn the market’s potential into reality.”

LG Electronics is also slated to break ground on its third consumer electronics plant in India at Sri City. It currently operates two manufacturing factories here- one in Noida and another in Maharashtra’s Ranjangaon.

It is a significant player in the country’s consumer durables market and rivals brands like Samsung, Voltas and Whirlpool.

According to market estimates, the company controls 33.5% of the washing machine market here, 28.7% of the refrigerator sector, 25.8% of the TV market, and 19.4% of the air conditioner market.

In FY24, LG Electronics achieved its highest-ever revenue in India. The revenue from its Indian operations jumped 14.8% to $2.8 billion, according to the regulatory filings.

Its net profit in India surged 43.4% year-on-year.

LG is also planning to roll out an appliance rental service across the country. This service was piloted at its exclusive stores last year, mainly to target premium customers.

“We plan to roll this out across our distribution network, which, we believe, will enable us to offer differentiated services, enhance consumer satisfaction and drive sales,” the company said in its DRHP. Financial Express

Indian Prime Minister Narendra Modi spoke to Elon Musk and talked about “various issues, including the topics we covered during our meeting in Washington DC earlier this year,” he said in a post on X on Friday, without saying when the conversation took place.

Modi said that they discussed the immense potential for collaboration in the areas of technology and innovation. Reuters

Elon Musk’s SpaceX-owned satellite internet services provider Starlink has urged the Indian government to expedite the approval of its licence application to begin operations in the country, people in the know said.

The company’s top officials made the request in a recent meeting with the Union commerce and industry minister Piyush Goyal. Besides seeking a faster nod to its application, the company discussed its plans to expand operations in the country.

“Met a delegation from Starlink, comprising of Vice President Chad Gibbs & Senior Director, Ryan Goodnight. Discussions covered Starlink’s cutting-edge technology platform, their existing partnerships & future investment plans in India,” Goyal said in a post on X on Wednesday.

Queries emailed to Starlink and the commerce ministry did not elicit any response till press time.

Security review still underway
“The government is still examining Starlink’s application from a security point of view. The company will be able to invest in the country only after approval,” a government official said on the condition of anonymity.

The company’s investments will go largely in setting up earth station gateways in the country. Satellite earth station gateways are ground-based facilities that serve as a vital link between satellites and local networks, and core to internet connectivity.

“As per the plans shared, Starlink is currently looking at setting up three earth station gateways,” another official said.

Starlink had submitted its application to the department of telecommunications (DoT) to get Global Mobile Personal Communication by Satellite (GMPCS) licence in 2022. The licence is a key requirement to offer satellite-based communication services in the country.

Besides the licence, the company would also require approval from Indian National Space Promotion and Authorisation Centre (IN-SPACe) on its constellation of satellites and the capacity it will create to provide services in the country.

According to government officials, Starlink has accepted key norms to get a licence for launching satellite broadband services in the country. These include the security and data storage requirements mandated by the government. However, the government still wants to be sure from a national security perspective before approving the company’s application, the official said.

Data rules, spectrum pricing key
These guidelines require the company to store all user data within the country and ensure it can facilitate data interception by intelligence agencies when needed. This is a prerequisite for obtaining any licences under the DoT.

The Telecom Regulatory Authority of India (Trai) is also in the process of finalising its recommendations on the pricing of spectrum for satellite services and other terms including the tenure of licence, spectrum usage charges, etc.

Rural opportunity
According to analysts, once Starlink’s application in the country is approved, it would bring fast and reliable internet to the underserved regions. Further, the company would also serve the urban areas with its satellite internet services.

“40% of India population do not have internet access with rural areas making the majority of these cases. This represents a large market opportunity for customer base in rural areas (for Starlink),” analysts at Bernstein, a brokerage, said in a note dated 4 March.

However, the analysts added that “factors such as affordability, competition from established terrestrial providers (like Reliance Jio and Bharti Airtel), and pricing sensitivity mean that only a fraction of these people are likely to subscribe.”

Pricing gap with local providers
According to estimates by Bernstein, Starlink’s pricing in India is seen significantly higher—around 10 to 14 times more—than that of the country’s leading broadband providers. For a connection offering speeds between 50 and 200 Mbps, users would need to pay an upfront fee of ₹52,242, with a monthly subscription of ₹10,469. When taxes and other charges are included, the total annual cost comes to approximately ₹2.16 lakh for Starlink.

In comparison, similar-speed fibre broadband plans from Airtel and Jio are available for just ₹11,000 to ₹15,000 per year, Bernstein said.

Currently, Jio Platforms and Bharti Enterprises-led Eutelsat OneWeb have obtained the necessary approvals to provide satellite broadband internet in the country.

Last month, Bharti Airtel and Reliance Jio—India’s two largest telecom service providers—entered into a pact with SpaceX to offer Starlink’s broadband internet services to its customers in India.

The telecom operators, which once opposed the entry of such players to avoid competition, will explore offering Starlink equipment in their retail stores, services to business customers, opportunities to connect communities, schools, and health centres.

Starlink operates the world’s largest satellite constellation, with over 6,750 satellites currently in orbit, serving millions of active customers around the globe with high-speed, low-latency internet, according to the details available on its website. LiveMint

China will integrate artificial intelligence (AI) applications into teaching efforts, textbooks and the school curriculum as it moves to overhaul education, authorities said in an official paper released on Wednesday.

The move targeting pupils and educators across primary, secondary and higher levels comes as the world’s second-largest economy looks to boost innovation and find new sources of growth.

Promoting artificial intelligence would help “cultivate the basic abilities of teachers and students,” and shape the “core competitiveness of innovative talents,” the education ministry said.

For students, such basic abilities range from independent thinking and problem-solving to communication and cooperation, it said in a statement on its website.

Use of artificial intelligence would also lead to more innovative and challenging classrooms, it added.

The effort comes after Chinese universities launched AI courses and widened enrolment after the DeepSeek startup drew global attention in January with the launch of a competitive large-language model cheaper to develop than U.S. peers.

That month China also unveiled its first national action plan to attain a “strong-education nation” by 2035, aiming to harness innovation efficiencies in reaching the goal. Reuters

South Korea yesterday announced plans to invest almost US$5 billion extra in the country’s semiconductor industry, citing “growing uncertainty” over US tariffs.

The country is a major exporter to the US and its powerhouse chip and auto industries would suffer a hefty hit from US President Donald Trump’s threatened 25 percent levies.

Concerns about the sector have hammered the Seoul-listed shares of the world’s largest memory chip maker Samsung, and largest memory chip supplier SK Hynix.

Officials have now stepped up to provide more cover for the economically crucial industry by announcing that an extra US$4.9 billion would be pumped into it through next year.

“An aggressive fiscal investment plan has been devised to help local firms navigate mounting challenges in the global semiconductor race,” the South Korean Ministry of Finance said in a press release.

It warned that “growing uncertainty” following rounds of US tariff threats had left the sector clamoring for government support.

“To foster a dynamic, private sector-led ecosystem for semiconductor innovation and growth, the government will increase its investment in the sector from 26 trillion won (US$18.2 billion) to 33 trillion won,” the ministry said.

Trump announced on his April 2 “Liberation Day” sweeping tariffs on its global trading partners, including the 25 percent on South Korean goods, before backtracking and suspending their implementation for 90 days.

Even so, “duties targeting specific sectors such as semiconductors and pharmaceuticals, remain on the horizon,” South Korean Minister of Finance Choi Sang-mok said during a meeting.

“This grace period offers a crucial window to strengthen the competitiveness of South Korean companies amid intensifying global trade tensions,” he added.

“The government plans to expand support for the semiconductor industry, allocating 33 trillion won, with over 4 trillion won in fiscal spending set to be injected through 2026,” he said.

The package includes funding for infrastructure development, including underground transmission lines at semiconductor clusters that are currently being built.

“The government will boldly support investment by semiconductor companies,” Choi said, adding that the package included securing talent for the industry.

The investment is part of a large revised supplementary budget proposal of 12 trillion won and requires the approval of the National Assembly.

The tariffs announcement has rocked global markets, with investors uncertain over whether they are a negotiating tactic or permanent US position.

Trump has insisted he would not back down until he has reduced or even wiped out US trade deficits — while simultaneously signalling that he is ready to negotiate.

The US trade deficit with South Korea was US$66 billion in goods last year.

Seoul last week unveiled a US$2 billion emergency support package to help automakers weather the storm.

Still, analysts said that for now, South Korea should not be too worried about its chip sector. “Unlike automobiles, which are already subject to tariffs, semiconductors are unique in that the United States lacks viable substitutes,” Sejong University professor Kim Dae-jong said.

“Our companies are building large-scale semiconductor plants in the US, contributing to local job creation, a point that will likely be emphasized,” Kim added. “Behind-the-scenes negotiations will likely continue, and there is a chance they could conclude on a positive note. There also remains the possibility that tariffs will be adjusted item by item in the future.” AFP

The move is a likely precursor to sticking steep tariffs on imported chips: The Trump administration has been applying similar levies to foreign goods ostensibly to, among other things, encourage more manufacturing on American soil.

Public notice of the investigation will be published in Wednesday’s edition of the Federal Register. In a pre-publication copy of the notice available for review now, the US Department of Commerce explained it was seeking public comment on the matter as it seeks to “determine the effects on national security of imports of semiconductors, semiconductor manufacturing equipment (SME) and their derivative products.”

Per the notice, derivative products include things “that contain semiconductors,” so if any tariffs do result from the investigation, expect electronics that include foreign-made chips (yes, iPhones) to be affected, too.

The Trump regime lifted tariffs on a number of imports – including computer equipment – last week, but with the added caveat that it fully intended to bring the tariffs back within a couple of months. The President also warned tariffs were coming for chips specifically. This investigation seems to be the beginning of that effort, with the White House using a familiar measure to legitimize potential tariffs on the semiconductor sector.

Like it did with steel, aluminum and automotive tariffs, the federal government is using the Section 232 of the Trade Expansion Act of 1962, which allows the President to enact tariffs for national security reasons.

The shift from using a declaration of national emergency to the more specific concerns about national security “reveals the administration’s desire for a more durable justification,” Consumer Technology Association CEO Gary Shapiro said of the news. “But claiming that downstream consumer tech products qualify as ‘semiconductors’ is a stretch.”

As for particularities, the notice said it’s looking for public feedback not only on the security risks of importing semiconductors, but the country’s potential to handle domestic production of affected chips as well, which ties in with Trump’s previous justification of tariffs as a way to bulk up, or in a lot of cases jumpstart, US manufacturing.

US semiconductor manufacturing has seen a boost in recent years with the Biden-era CHIPS Act and commitments from multinationals like TSMC and Samsung to build chip plants in the US. As we’ve noted before, however, those plants can take years to come online, and both super-corps have been hesitant to bring leading-edge chip manufacturing to the US.

In other words – and forgive us for sounding a bit like a broken record – buyers will feel the pinch if the Trump administration uses this investigation to enact semiconductor tariffs; the extra levies will be passed onto them. Amazon expects this to happen. Meanwhile, the randomness of the tariff strategy thus far will forestall any big US reindustrialization, according to Shapiro.

“Unpredictability is undermining long-term investment and growth,” Shapiro said.

“More, high production costs and a limited skilled workforce make domestic manufacturing of consumer tech challenging,” the CTA CEO added. “To support US innovation and competitiveness, we need a smarter, targeted trade strategy where we team up with allies to compete with China.”

The public comment period for the investigation will last for 21 days from publication of the order, which is scheduled for Wednesday. Section 232 investigations are designed to take no longer than 270 days. The Trump administration also released an advance copy of another Section 232 investigation that could preempt tariffs yesterday targeting the pharmaceutical industry. The Register

In a major move to modernise governance and boost digital efficiency, the Odisha government has made it mandatory for all officers to acquire foundational knowledge in Artificial Intelligence (AI). A notification issued by Chief Secretary Manoj Ahuja on April 15 directed all departments to ensure their officers enroll in at least one basic online AI course.

“AI has the potential to bring transformative changes in how government functions from making it easy for citizens to interface with Government to predictive analysis, intelligent grievance redressal systems, planning, and monitoring service delivery outcomes,” the letter stated.

Notably, this initiative is part of the state’s broader plan to build a digitally competent and future-ready administrative workforce.

According to the directive, officers must complete a foundational AI course within three months. These online courses are available for free on reputed platforms and cover essential AI concepts, tools, and applications.

The courses aim to offer both theoretical understanding and practical insights. Further, departments have been asked to designate a nodal officer to oversee implementation, facilitate enrollment, and monitor progress.

Consolidated reports on course completion must be submitted to the Chief Secretary’s office within the deadline.

Why it matters
The move comes as AI becomes increasingly relevant in public administration. From predictive analysis and grievance redressal systems to improved planning and real-time service monitoring, AI can significantly enhance how the government serves its citizens.

The Chief Secretary stressed that understanding AI is crucial for effective governance. Officers need to use these tools to make informed decisions, manage large data systems, and design citizen-centric policies. Odisha TV

Shares of Bharti Hexacom Ltd. will be in the spotlight, April 11, after the company announced it has temporarily paused its plan to sell 3,400 telecom towers to Indus Towers for ₹1,134 crore.

The move comes after an intervention by Telecommunications Consultants India Limited (TCIL) — a Government of India entity that holds a 15% stake in Bharti Hexacom. Following TCIL’s involvement, Bharti Hexacom stated in a stock exchange filing that the proposal has been put “in abeyance” and a fresh evaluation will be carried out in consultation with TCIL.

This transaction was originally part of a larger deal announced in February, under which Indus Towers was to acquire a total of 16,100 towers from Bharti Airtel and Bharti Hexacom for ₹3,308.7 crore in cash. The deal was expected to close by March 31. As of now, Indus Towers has completed the acquisition of Airtel’s passive infrastructure business, which involved 12,700 towers. The remaining 3,400 towers from Bharti Hexacom are pending.

Indus Towers had previously said the acquisition was aligned with its core business and would enhance its market share while supporting long-term growth. On the investment front, brokerage firm Motilal Oswal has reiterated its bullish stance on Bharti Hexacom. In a recent note, it stated that it prefers Bharti Hexacom shares over its parent company Bharti Airtel Ltd., citing lower risks of capital misallocation.

Motilal Oswal has given Bharti Hexacom a ‘Buy’ rating with a target price of ₹1,625 — a level that would surpass the stock’s post-listing high of ₹1,609. The brokerage noted that Bharti Hexacom is currently trading at a 15% premium to the implied valuation of Bharti Airtel’s India business, a premium it believes could be sustained. BharatnNet

Chinese authorities have accused the US National Security Agency (NSA) of carrying out sophisticated cyberattacks targeting critical Chinese infrastructure during the Asian Winter Games in February. The allegations, announced by police in Harbin and reported Tuesday by the state-run Xinhua News Agency, signal a heightened escalation in cybersecurity tensions between the two nations.

According to the Harbin Public Security Bureau, the NSA allegedly launched a series of “advanced cyberattacks” on essential sectors, including energy, transportation, water resources, telecommunications, and national defence research institutions in China’s northeastern Heilongjiang province, the host region for the Games.

Authorities identified three individuals accused of orchestrating the attacks: Katheryn A Wilson, Robert J Snelling, and Stephen W Johnson. The trio has been placed on a wanted list, with Chinese officials claiming they were involved in repeated cyberattacks not only against government infrastructure but also against major Chinese enterprises, including Huawei.

The report also named two US academic institutions — the University of California and Virginia Tech — as being involved in the alleged cyber operations, though specific details on their roles were not provided.

Xinhua’s report also claims the NSA carried out the cyberattacks during the Asian Winter Games, with a particular focus on disrupting key information systems and stealing sensitive data.

“The US National Security Agency (NSA) launched cyberattacks against important industries such as energy, transportation, water conservancy, communications, and national defence research institutions in Heilongjiang province,” Xinhua quoted the Harbin police as saying.

The operations reportedly peaked during the first ice hockey match on February 3, with the attackers targeting the Games’ registration system, which contained personal data of participating athletes and officials.

According to investigators, the NSA allegedly activated “pre-installed backdoors” in Microsoft Windows systems on devices in the region. To avoid detection, the agency is said to have used anonymised IP addresses and rented servers across Europe and Asia.

This development adds to the growing cyber and trade tensions between the US and China. Washington has frequently accused Chinese state-backed hackers of targeting American infrastructure, government agencies, and private firms.

Just last month, the US indicted several alleged Chinese hackers believed to have attacked the Defense Intelligence Agency, the Department of Commerce, and foreign ministries in Taiwan, South Korea, India, and Indonesia.

Beijing has consistently denied involvement in any overseas cyber espionage. In recent years, however, China has begun publicly accusing the US of conducting similar operations. In December, Chinese officials said they had uncovered and dealt with two American cyberattacks on domestic tech firms intended to “steal trade secrets” since May 2023, though they did not name the specific agency responsible. Business Standard

Following a string of alleged Russian attacks on undersea cables, a group of Europe’s largest telecom companies are urging NATO and other military leaders to do more to protect the region’s undersea infrastructure.

“With the rise in hybrid threats, including incidents affecting subsea cables in the Baltic and North Sea, we emphasize the importance of enhanced, coordinated action to safeguard Europe’s cross-border networks,” the companies wrote in an open letter to EU, UK, and NATO decision makers.

The companies—which include Spain’s Telefónica, Vodafone, and O2 owner Orange—argue that the “repercussions of damage to subsea cables extend far beyond Europe,” claiming future attacks could impact “global internet and power infrastructure, international communications, financial transactions, and critical services worldwide.”

The letter calls on leaders to engage in the “robust exchange of knowledge and intelligence,” including “shared monitoring and surveillance initiatives,” and calls for “investment in advanced technologies to detect and mitigate damage to subsea cables.”

Though the document doesn’t explicitly name any foreign powers, Russia is suspected to be behind several high-profile incidents over the past year.

In November 2024, a Chinese ship was surrounded by European vessels due to suspicions that it attempted to sabotage fiber-optic undersea cables in the Baltic Sea. The Yi Peng 3, a commercial ship filled with Russian goods, dragged an anchor over 100 miles across Northern Europe’s Baltic seabed, and the investigation reportedly focused on whether the ship’s crew was directed to drag the anchor to intentionally damage the cables.

That came after cables connecting Lithuania and Sweden, as well as Finland and Germany, were slashed the month prior. In January, Sweden also began investigating a cargo ship for deliberately damaging an undersea fiber-optic cable in the Baltic Sea, which connected Sweden and Latvia, after detecting connectivity issues.

Russia and China have denied intentionally damaging any undersea infrastructure. In January, however, UK Defense Secretary John Healey said in a statement directed at Russian President Vladimir Putin that, “We know what you are doing, and we will not shy away from robust action to protect this country.”

NATO is already looking at ways to protect subsea cables, including aquatic drones that can monitor the Baltic and Mediterranean Seas for threats and potentially be equipped with weapons.

In January, NATO announced “Baltic Sentry,” a military activity intended “to strengthen the protection of critical infrastructure [and] improve Allies’ ability to respond to destabilizing acts.” The organization confirmed that naval drones are part of the effort, as are frigates (warships) and maritime patrol aircraft.

“NATO will work within the Critical Undersea Infrastructure Network, which includes industry, to explore further ways to protect infrastructure and improve resilience of underwater assets,” it says. Yahoo Tech