 Daily Top 5 |
Xiaomi eyes local partners; Electronics firms target AI infra
Want this newsletter delivered to your inbox?
I agree to receive newsletters and marketing communications via e-mail
Thank you for subscribing to Daily Top 5
We'll soon meet in your inbox.
Xiaomi is looking for local partners as it plans to manufacture home appliances in India. This and more in today’s ETtech Top 5.
Also in the letter:
■ Qualcomm’s India layoffs
■ WhatsApp’s AI, fintech push
■ Nvidia’s China chip sales row
Xiaomi is scouting for local partners as it looks to manufacture white goods (large home appliances) in India, months after it formally launched a specialised home and lifestyle sub-brand, Mijia, in the country, said people familiar with the development.
Tell me more: The proposal is in the exploratory phase, but the Chinese technology company is set to begin evaluating potential Indian suppliers, according to a person who did not wish to be identified.
Betting big on connected devices: Analysts said the company’s expansion into white goods is a strategic effort to diversify its revenue base, extend its connected device ecosystem, and build a stronger presence across India’s consumer technology market.
Revenue: In 2025, Xiaomi’s IoT (Internet of Things) and lifestyle products segment generated more than $17 billion, reflecting an 18.3% year-on-year growth. Mijia’s financial contributions are fully integrated into the company’s IoT and lifestyle products division, which contributes 25-28% of Xiaomi’s total corporate revenue.
Catch up quick: In June, Xiaomi shared its plans to enter the large appliances category in India. The first products under Mijia were air purifiers, and the move was viewed as part of the company’s effort to strengthen the home segment in India.
India’s electronics manufacturing industry is expanding into high-tech products for data centres and artificial intelligence (AI) infrastructure, moving up the value chain after establishing a stronghold in smartphones and venturing into semiconductor chips, seeking to tap into surging global demand and position the country as an export hub.
Moving up the value chain: Leading contract manufacturer Dixon Technologies plans to manufacture for AI infrastructure and hyperscale data centres, including silicon photonics-based optical transceivers and advanced packaging solutions.
Others join the race: Multinationals such as Samsung and LG, along with the homegrown Voltas, Blue Star, and PG Electroplast, are also entering the market for specialised heating, ventilation, and air-conditioning (HVAC) systems used in data centres.
Why it matters: Industry executives said local production could help India emerge as a challenger to established manufacturing hubs such as China, Taiwan, and South Korea. The government estimates that investments of around $200 billion could flow into India’s data centre industry.
California-headquartered smartphone chipmaker Qualcomm has begun implementing planned job cuts globally, affecting employees in India and the US.
India layoffs: Qualcomm began layoffs at its Bengaluru facility on Monday, days after it started cutting jobs in the US. The cuts are expected to affect around 1,000 employees, or 3-6% of its 20,000-strong workforce in India.
Severance pay: A Financial Express report states that affected employees have been offered three months’ pay as severance, based on tenure, with an additional month’s salary for those signing their exit documents within three days.
October memo: In a memo sent to employees last month, CEO Cristiano Amon said Qualcomm would undertake what he described as “performance-focused” workforce reductions in November, following its annual employee reviews.
Why is Qualcomm cutting jobs: Qualcomm reported a 26% on-year decline in handset revenue in its latest quarterly results last week, as rising memory prices weighed on consumer electronics demand in key markets.
WhatsApp CEO Kunal Shah
WhatsApp plans to make its platform simpler by focussing on messaging, financial services, and artificial intelligence (AI), its global head Kunal Shah said.
Easier communication: Shah said WhatsApp would continue adapting its features to changing communication habits, making voice notes, groups, stickers, and video simpler and more expressive to help users stay connected.
Simplifying financial transactions: The aim is to simplify everyday transactions, such as bill payments and accessing financial services, which often start in a chat but require users to switch to other apps to complete. Shah hinted at possible partnerships with telecom providers and payment platforms.
Integrating AI: “It (AI) should quietly find what you need, get things done, and make sure you never miss a booking or an appointment. The best technology saves you time, so you can get back to the connections that matter,” Shah said.
Nvidia CEO Jensen Huang
Nvidia CEO Jensen Huang's relationship with a woman the US suspects of being a Chinese intelligence agent reportedly helped facilitate the sale of more than $7.5 billion worth of the company's top-end AI chips to China over the past two years.
What happened: According to a report by The Information, the woman, identified as Alice Huang, used her close ties with the Nvidia chief to secure access to AI chips that were not only difficult to obtain, but also restricted from being exported to China.
How it happened: The report claims that Alice Huang, along with her sister and husband, built a network of companies across China and Singapore to acquire and move Nvidia processors into the country.
US investigation: The US government has reportedly identified Alice Huang as an intelligence asset working for the Chinese Ministry of State Security (MSS). However, there is no evidence that could prove Jensen Huang knowingly helped her or was aware of her alleged links to China.
Also Read: Will Nvidia CEO Jensen Huang keep his job amid FBI probe? Here’s what we know
Also in the letter:
■ Qualcomm’s India layoffs
■ WhatsApp’s AI, fintech push
■ Nvidia’s China chip sales row
Local partner wanted for Xiaomi ‘home’ coming
Xiaomi is scouting for local partners as it looks to manufacture white goods (large home appliances) in India, months after it formally launched a specialised home and lifestyle sub-brand, Mijia, in the country, said people familiar with the development.
Tell me more: The proposal is in the exploratory phase, but the Chinese technology company is set to begin evaluating potential Indian suppliers, according to a person who did not wish to be identified.
Betting big on connected devices: Analysts said the company’s expansion into white goods is a strategic effort to diversify its revenue base, extend its connected device ecosystem, and build a stronger presence across India’s consumer technology market.
Revenue: In 2025, Xiaomi’s IoT (Internet of Things) and lifestyle products segment generated more than $17 billion, reflecting an 18.3% year-on-year growth. Mijia’s financial contributions are fully integrated into the company’s IoT and lifestyle products division, which contributes 25-28% of Xiaomi’s total corporate revenue.
Catch up quick: In June, Xiaomi shared its plans to enter the large appliances category in India. The first products under Mijia were air purifiers, and the move was viewed as part of the company’s effort to strengthen the home segment in India.
Electronics Inc runs ops update to build AI infra
India’s electronics manufacturing industry is expanding into high-tech products for data centres and artificial intelligence (AI) infrastructure, moving up the value chain after establishing a stronghold in smartphones and venturing into semiconductor chips, seeking to tap into surging global demand and position the country as an export hub.
Moving up the value chain: Leading contract manufacturer Dixon Technologies plans to manufacture for AI infrastructure and hyperscale data centres, including silicon photonics-based optical transceivers and advanced packaging solutions.
Others join the race: Multinationals such as Samsung and LG, along with the homegrown Voltas, Blue Star, and PG Electroplast, are also entering the market for specialised heating, ventilation, and air-conditioning (HVAC) systems used in data centres.
Why it matters: Industry executives said local production could help India emerge as a challenger to established manufacturing hubs such as China, Taiwan, and South Korea. The government estimates that investments of around $200 billion could flow into India’s data centre industry.
Qualcomm initiates India layoffs: Here’s how much employees will get in severance
California-headquartered smartphone chipmaker Qualcomm has begun implementing planned job cuts globally, affecting employees in India and the US.
India layoffs: Qualcomm began layoffs at its Bengaluru facility on Monday, days after it started cutting jobs in the US. The cuts are expected to affect around 1,000 employees, or 3-6% of its 20,000-strong workforce in India.
Severance pay: A Financial Express report states that affected employees have been offered three months’ pay as severance, based on tenure, with an additional month’s salary for those signing their exit documents within three days.
October memo: In a memo sent to employees last month, CEO Cristiano Amon said Qualcomm would undertake what he described as “performance-focused” workforce reductions in November, following its annual employee reviews.
Why is Qualcomm cutting jobs: Qualcomm reported a 26% on-year decline in handset revenue in its latest quarterly results last week, as rising memory prices weighed on consumer electronics demand in key markets.
WhatsApp to double down on financial services, AI: CEO Kunal Shah
WhatsApp plans to make its platform simpler by focussing on messaging, financial services, and artificial intelligence (AI), its global head Kunal Shah said.
Easier communication: Shah said WhatsApp would continue adapting its features to changing communication habits, making voice notes, groups, stickers, and video simpler and more expressive to help users stay connected.
Simplifying financial transactions: The aim is to simplify everyday transactions, such as bill payments and accessing financial services, which often start in a chat but require users to switch to other apps to complete. Shah hinted at possible partnerships with telecom providers and payment platforms.
Integrating AI: “It (AI) should quietly find what you need, get things done, and make sure you never miss a booking or an appointment. The best technology saves you time, so you can get back to the connections that matter,” Shah said.
Jensen Huang's affair with alleged Chinese spy allowed $7 billion+ Nvidia chip sales to China: Report
Nvidia CEO Jensen Huang's relationship with a woman the US suspects of being a Chinese intelligence agent reportedly helped facilitate the sale of more than $7.5 billion worth of the company's top-end AI chips to China over the past two years.
What happened: According to a report by The Information, the woman, identified as Alice Huang, used her close ties with the Nvidia chief to secure access to AI chips that were not only difficult to obtain, but also restricted from being exported to China.
How it happened: The report claims that Alice Huang, along with her sister and husband, built a network of companies across China and Singapore to acquire and move Nvidia processors into the country.
US investigation: The US government has reportedly identified Alice Huang as an intelligence asset working for the Chinese Ministry of State Security (MSS). However, there is no evidence that could prove Jensen Huang knowingly helped her or was aware of her alleged links to China.
Also Read: Will Nvidia CEO Jensen Huang keep his job amid FBI probe? Here’s what we know
Want this newsletter delivered to your inbox?
I agree to receive newsletters and marketing communications via e-mail