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Business Wire India

Bringg, the last-mile performance leader, today announced Chris Conway’s appointment as Senior Vice President and General Manager, EMEA. Conway will lead Bringg’s commercial strategy, customer relationships, and go-to-market operations across the region.

 

Conway brings more than 20 years of experience in eCommerce, digital commerce, and operational transformation at three of the UK’s largest grocery retailers. Most recently, he served as Managing Director of Quick Commerce and Food Operating Board Member at Co-op, where he built and scaled a £500 million-plus q-commerce operation delivering from nearly 2,000 stores. He also founded Peckish, a rapid delivery app that gave independent retailers access to q-commerce technology. He also led Asda’s online grocery business to more than £1 billion in revenue and 20% market share, and ran the online commercial team at Morrisons. Conway holds an AI certificate from Oxford Saïd Business School.

 

 

“Chris built one of the UK’s most successful delivery operations as a Bringg customer and decided to come over and build it for others,” said Guy Bloch, CEO of Bringg. “EMEA retailers are making increasingly complex delivery decisions, and Bringg is building AI capabilities that help them get those decisions right. Chris knows what that looks like from the operator’s seat. That firsthand experience is exactly what the market needs to scale their last-mile capabilities.”

 

 

In his new role, Conway will drive executive engagement with European retailers and logistics leaders, position Bringg as the definitive last-mile performance solution, and convert relationships into structured pilot engagements.

 

 

“On the retail side, I spent years trying to make last-mile delivery a competitive advantage rather than a cost,” said Conway. “I know what it takes because I lived it. I’ve also seen how Bringg does it—starting from deep understanding of customers’ problems and using automation and AI to improve last-mile performance. That’s the conversation I want to have with the market.”

 

 

About Bringg

 

 

Global retailers and logistics providers reduce costs and deliver differentiated customer experiences with Bringg Last-Mile Solutions. The combination of Bringg’s modular technology platform, integrated fleet network, and services suite drives last-mile performance to unlock flexibility at scale. www.bringg.com

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420870902/en/

 

Business Wire India

 

• Net sales increased to $55.1 million for the quarter and $210.9 million for the full year, compared to $45.0 million and $158.4 million in the prior year periods, respectively

• Income before income taxes increased to $6.4 million for the quarter and $27.5 million for the full year, compared to $5.3 million and $18.5 million in the prior year periods, respectively

• GAAP diluted earnings per share increased to $0.60 for the quarter and $2.09 for the full year, compared to $0.22 and $1.12 in the prior year periods, respectively

• Backlog stood at $121.6 million, reflecting strong conversion to revenue during the quarter

 

Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) today announced financial results for the fourth quarter and 2025 fiscal year ended January 31, 2026.

 

“For the three months ended January 31, 2026, net sales were $55.1 million, an increase of $10.1 million, or 22.4%, compared to $45.0 million in the same quarter of the prior year. Growth was driven by higher sales volumes in both the Middle East and North America. Gross profit was $17.3 million, up $2.1 million from $15.2 million last year, reflecting higher activity levels. Selling, general and administrative expenses increased slightly to $10.3 million from $9.7 million, primarily due to higher payroll costs, partially offset by lower bonus costs. The Company’s effective tax rate (“ETR”) was 12.3%, compared to 32.1% in the prior-year quarter, reflecting the impact of product mix across various tax jurisdictions. As a result, net income attributable to common stock was $4.9 million, an increase of $3.1 million, or 172.2%, compared to $1.8 million in the fourth quarter of fiscal 2024,” noted President and CEO Saleh Sagr.

 

 

“For the year ended January 31, 2026, net sales were $210.9 million, an increase of $52.5 million, or 33.1%, compared to $158.4 million in the prior year period. The increase was primarily attributable to higher sales volumes in both the Middle East and North America. Gross profit was $69.5 million, compared to $53.2 million in the prior year period, reflecting increased activity levels. Selling, general and administrative expenses were $40.1 million, up from $32.9 million, due to higher payroll and professional fees, including approximately $1.0 million related to Sarbanes-Oxley Section 404 compliance in connection with our transition from a non-accelerated filer to an accelerated filer. This also includes a one-time compensation charge of approximately $2.0 million related to the departure of the previous CEO. The Company’s effective tax rate was 24.9%, compared to 29.1% in the prior-year period. The change in the Company’s effective tax rate reflects product mix across various tax jurisdictions and the Company’s overall reduction in its effective tax rate for the year was partially offset by the impact of a tax limitation related to the one-time charge associated with the prior CEO’s departure. Net income attributable to common stock was $17.0 million, an increase of $8.0 million, or 88.9%, compared to $9.0 million in fiscal 2024,” Mr. Sagr commented.

 

 

President and CEO Saleh Sagr added: “Our backlog stood at $121.6 million as of January 31, 2026. This reflects strong operational execution as we successfully accelerated the conversion of existing sales orders into realized revenue. Our backlog remains at historically strong levels. We continue to see meaningful multi-regional expansion, particularly across North America and the Middle East, reinforcing sustained global demand for our solutions.”

 

 

“Our fiscal 2025 results represent a landmark achievement for the Company. Total revenues of $210.9 million and net income attributable to common stockholders of $17.0 million mark our highest level of earnings in the Company’s modern operating history, driven not only by strong top-line growth but also by improved margins. This record performance was driven by broad-based strength across our global footprint, with significant growth contributions from the Middle East and North America. Our ability to scale across these diverse markets while maintaining disciplined margin performance has enabled us to convert top-line momentum into meaningful bottom-line value for our shareholders.”

 

 

“To sustain this trajectory, we have entered into a long-term lease for a new production facility in Ohio (AI data centers). This strategically located hub will serve as a primary logistics center for the Northeast and New England corridors, enabling us to localize production for our district heating and cooling offerings and capture additional regional market share. The region’s favorable and flexible labor environment further enhances our operational agility.”

 

 

“Supporting our long-term growth strategy, we also finalized a new credit facility with J.P. Morgan Chase. This agreement represents a watershed moment for the Company. We have standardized our borrowing platform globally at significantly improved terms. This transition optimizes our cost of capital while providing the liquidity necessary to support the next phase of our global expansion,” Mr. Sagr continued.

 

 

“With record earnings as our foundation and a modernized capital structure as our fuel, we enter the remainder of 2026 with strong confidence in our ability to scale our global operations and drive meaningful shareholder returns,” Mr. Sagr concluded.

 

 

2025 Results

 

 

Net sales were $210.9 million for the fiscal year ended January 31, 2026, an increase of $52.5 million, or 33.1%, from $158.4 million in the prior year. The growth was primarily driven by higher sales volumes across our key markets in the Middle East, Canada, and the United States

 

 

Gross profit was $69.5 million, or 33% of net sales, compared to $53.2 million, or 34% of net sales, in the prior year. The $16.3 million was driven by higher sales volumes and consistent gross margins globally.

 

 

General and administrative expenses were $35.3 million, compared to $28.0 million in the prior year. The increase of $7.3 million was primarily related to higher compensation costs and professional fees, including approximately $1.0 million relating to Sarbanes-Oxley 404 compliance in connection with our transition from a non-accelerated filer to an accelerated filer. This also includes a one-time compensation charge of approximately $2.0 million related to the departure of the previous CEO.

 

 

Selling expenses were $4.7 million, compared to $4.9 million in the years ended January 31, 2026 and 2025, respectively. The decrease of $0.2 million was primarily driven by lower payroll expenses during the year.

 

 

Interest expense, net was $1.8 million and $1.9 million in the years ended January 31, 2026 and 2025, respectively. The decrease of $0.1 million was the result of an overall reduction in interest rates during the year.

 

 

The Company’s worldwide effective tax rates (“ETR”) were 24.9% and 29.1% in the years ended January 31, 2026 and 2025, respectively. The change in ETR was largely due to changes in the mix of income and loss in various tax jurisdictions and the domestic Global Intangible Low-Taxed Income (“GILTI”) inclusion.

 

 

Net income attributable to common stock was $17.0 million, or $ 2.09 per diluted share, for the fiscal year ended January 31, 2026, compared to $9.0 million, or $ 1.12 per diluted share, in the prior year. The 89% increase was driven by the significant growth in sales volumes and operational efficiencies discussed above, partially offset by the one-time charges previously noted and amounts attributable to non-controlling interest.

 

 

Perma-Pipe International Holdings, Inc.

 

 

Perma-Pipe International Holdings, Inc. (the “Company”) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, the Company has operations at thirteen locations in seven countries.

 

 

Forward-Looking Statements

 

 

Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company’s operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) fluctuations in the price of oil and natural gas and its impact on customer order volume for the Company’s products; (ii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (iii) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve sustained profitability and positive cash flows; (vi) the Company’s ability to collect a long-term account receivable related to a project in the Middle East; (vii) the Company’s ability to interpret changes in tax regulations and legislation; (viii) the Company’s ability to use its net operating loss carryforwards; (ix) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s “over-time” revenue recognition; (x) the Company’s failure to establish and maintain effective internal control over financial reporting; (xi) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (xii) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xiii) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xiv) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xv) reductions or cancellations of orders included in the Company’s backlog; (xvi) risks and uncertainties specific to the Company’s international business operations; (xvii) the Company’s ability to attract and retain senior management and key personnel; (xviii) the Company’s ability to achieve the expected benefits of its growth initiatives; (xix) the impact of pandemics and other public health crises on the Company and its operations; and (xx) the impact of cybersecurity threats on the Company’s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com.)

 

 

The Company’s fiscal year ends on January 31. Years, results, and balances described as 2025, 2024, and 2023 are for the fiscal year ending January 31, 2026, 2025, and 2024, respectively.

 

 

Additional information regarding the Company’s financial results for the fiscal year ended January 31, 2026, including management’s discussion and analysis of the Company’s financial condition and results of operations, is contained in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2026, which will be filed with the Securities and Exchange Commission on or about the date hereof and will be accessible at www.sec.gov and www.permapipe.com. For more information, visit the Company’s website.

 

 

PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
		Three Months Ended January 31,								Year Ended January 31,
		2026				2025				2026				2025
Net sales		$	55,129			$	44,987			$	210,925			$	158,384
Gross profit			17,337				15,171				69,488				53,248
Total operating expenses			10,367				9,732				40,039				32,947
Income from operations			6,970				5,439				29,449				20,301
Interest expense, net			505				451				1,822				1,940
Other (expense) income, net			(58	)			262				(134	)			107
Income before income taxes			6,407				5,250				27,493				18,468
Income tax expense			787				1,685				6,844				5,377
Net income		$	5,620			$	3,565			$	20,649			$	13,091
Less: Net income attributable to non-controlling interest			702				1,805				3,614				4,108
Net income attributable to common stock		$	4,918			$	1,760			$	17,035			$	8,983
Weighted average common shares outstanding
Basic			8,103				7,983				8,047				7,956
Diluted			8,206				8,073				8,148				8,015
Earnings per share
Basic		$	0.61			$	0.22			$	2.12			$	1.13
Diluted		$	0.60			$	0.22			$	2.09			$	1.12
Note: Earnings per share calculations could be impacted by rounding.

 

PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
		January 31,
		2026				2025
ASSETS
Current assets		$	146,734			$	108,802
Long-term assets			70,752				56,439
Total assets		$	217,486			$	165,241
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities		$	79,789			$	54,063
Long-term liabilities			31,396				28,073
Total liabilities			111,185				82,136
Non-controlling interests			15,663				10,967
Stockholders’ equity			90,638				72,138
Total liabilities and stockholders’ equity		$	217,486			$	165,241

 

PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURE
ADJUSTED INCOME BEFORE TAX
(In thousands)
(Unaudited)

 

The following information contains a reconciliation of the non-GAAP financial measure of adjusted income before income tax and income before tax prepared in accordance with generally accepted accounting principles (“GAAP”) for the three and twelve months ended January 31, 2026, and 2025, respectively. This reconciliation is intended to provide investors with useful information in evaluating the Company’s performance. Adjusted income before tax includes certain adjustments as identified below. This measure is not considered an alternative to income before tax or other financial measures of performance that are prepared in accordance with GAAP. The Company believes that the exclusion of certain items from income before tax allows investors to more effectively evaluate the Company’s operating performance and identify trends that might not be apparent due to the variability and infrequent nature of these items. In addition, the Company believes this measure provides meaningful information to investors when comparing results between periods and performance with respect to the Company’s peers.

 

 

Adjustments were made for certain items as follows: (i) a one-time charge associated with the acceleration of executive compensation; (ii) a one-time litigation settlement charge; and (iii) other non-recurring items. These non-GAAP measures are provided to enhance the user’s overall understanding of the company’s current financial performance and may not be comparable to similarly titled measures used by other companies.

 

 

The following table provides a reconciliation of the GAAP and non-GAAP financial measures:

 

 

		For the three months ended								For the twelve months ended
		January 31,   2026				January 31,   2025				January 31,   2026				January 31,   2025
Income before income tax (GAAP as reported)		$	6,407			$	5,250			$	27,493			$	18,468
Acceleration of certain executive compensation			–				–				2,018				–
Litigation settlement			–				–				–				35
Other one-time charges			–				–				88				517
Adjusted income before tax		$	6,407			$	5,250			$	29,599			$	19,020

 

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260416587944/en/

 

Business Wire India

Kioxia Corporation today announced KIOXIA EG7 Series solid state drives (SSDs), the first client solution to adopt Kioxia’s BiCS FLASH™ generation 8 4-bit-per-cell, quadruple-level cell (QLC) technology. The QLC-based KIOXIA EG7 Series delivers equivalent performance as TLC-based solutions⁽¹⁾, enabling better total cost of ownership (TCO) for value-oriented slim laptops, as well as commercial and consumer notebooks and desktops.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260420977735/en/

 

 

 

KIOXIA EG7 Series SSDs bring the performance and power efficiency advantages of KIOXIA BiCS FLASH™ generation 8 QLC 3D flash memory to common computing workloads for PC OEMs. The new drives deliver random read and write performance of up to 1,000 KIOPS, sequential read speed of up to 7,000 MB/s, and sequential write speed of up to 6,200 MB/s.

 

The KIOXIA EG7 Series incorporates NVMe™ 2.0d support, giving PC OEMs greater flexibility in system design and device management. The drives are offered in M.2 Type 2230, Type 2242, and Type 2280 form factors, enabling broader compatibility across diverse system configurations and space constraints.

 

 

Positioned within Kioxia’s value-oriented client SSD portfolio, the DRAM-less KIOXIA EG7 Series leverages mature Host Memory Buffer (HMB) technology, utilizing a portion of system memory to help improve TCO and power consumption while maintaining responsive performance.

 

 

Additional features include:

 

 

• PCIe^® 4.0 specification compliant
• Self-Encrypting Drive (SED) support based on TCG Opal version 2.02
• Capacities of 512 GB, 1024 GB, and 2048 GB

 

The KIOXIA EG7 Series is currently sampling to select PC OEM customers, with PC shipments equipped with the SSD expected to begin from the second quarter of 2026 onwards.

 

Notes:

 

(1) Compared to KIOXIA BG7 Series SSDs

 

 

– Definition of SSD capacity: Kioxia Corporation defines a kilobyte (KB) as 1,000 bytes, a megabyte (MB) as 1,000,000 bytes, a gigabyte (GB) as 1,000,000,000 bytes, a terabyte (TB) as 1,000,000,000,000 bytes, and a kibibyte (KiB) is 1,024 bytes. A computer operating system, however, reports storage capacity using powers of 2 for the definition of 1GB = 2^30 bytes = 1,073,741,824 bytes and 1TB = 2^40 bytes = 1,099,511,627,776 bytes and therefore shows less storage capacity. Available storage capacity (including examples of various media files) will vary based on file size, formatting, settings, software and operating system, and/or pre-installed software applications, or media content. Actual formatted capacity may vary.

 

 

– Read and write speed may vary depending on the host device, read and write conditions, and file size.

 

 

– IOPS: Input Output Per Second (or the number of I/O operations per second)
– Availability of the SED model lineup may vary by region

 

 

– NVMe is a registered or unregistered mark of NVM Express, Inc. in the United States and other countries.

 

 

– PCIe is a registered trademark of PCI-SIG.

 

 

– Other company names, product names, and service names may be trademarks of third-party companies.

 

 

About Kioxia

 

 

Kioxia is a world leader in memory solutions, dedicated to the development, production and sale of flash memory and solid-state drives (SSDs). In April 2017, its predecessor Toshiba Memory was spun off from Toshiba Corporation, the company that invented NAND flash memory in 1987. Kioxia is committed to uplifting the world with “memory” by offering products, services and systems that create choice for customers and memory-based value for society. Kioxia’s innovative 3D flash memory technology, BiCS FLASH™, is shaping the future of storage in high-density applications, including advanced smartphones, PCs, automotive systems, data centers and generative AI systems.

 

 

*Information in this document, including product prices and specifications, content of services and contact information, is correct on the date of the announcement but is subject to change without prior notice.

 

 

Customer Inquiries:
Global Sales Offices
https://www.kioxia.com/en-jp/business/buy/global-sales.html

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420977735/en/

 

Business Wire India

Rigaku Holdings Corporation (headquarters: Akishima, Tokyo; President and CEO: Jun Kawakami; “Rigaku”), a global leader in X-ray analytical technologies, today announced that it has entered into a strategic capital and business alliance with Onto Innovation Inc. (headquarters: Massachusetts, USA; CEO: Michael P. Plisinski; “Onto Innovation”).

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260420467739/en/

 

 

 

“As semiconductor devices become more complex, particularly with the increasing importance of three-dimensional structures, Rigaku has been seeking to enhance its analytical capabilities by incorporating advanced model-based and AI-driven algorithms in optical metrology,” said Jun Kawakami, President and CEO, Rigaku Holdings Corporation. “Onto Innovation not only brings strong expertise in optical technologies and software, but also capabilities in physical modeling for X-ray analysis, making it an ideal partner for us.”

 

This alliance directly supports Rigaku’s core growth strategy in semiconductor process control. By combining Rigaku’s X-ray technologies with Onto Innovation’s complementary optical metrology and advanced analytics software, including AI-driven solutions, the companies aim to deliver next-generation hybrid metrology solutions for increasingly complex semiconductor devices.

 

 

“The pace of change in semiconductor production is accelerating as the industry combines more complex and exotic materials with new 3D transistor structures, and advanced packaging to implement 3D and 2.5D chiplet architectures. ” said Michael P. Plisinski, CEO, Onto Innovation Inc. “These changes necessitate new and innovative ways to measure, characterize, and ultimately control theses new production technologies. We are pleased to be able to expand our partnership with Rigaku and together deliver the solutions our customers need to maintain their pace of innovation.”

 

 

The two companies have already been collaborating on hybrid metrology solutions, integrating Rigaku’s CD-SAXS with Onto Innovation’s analytics software. The new agreement will further accelerate and expand this joint development.

 

 

About Onto Innovation: Onto Innovation is a leader in process control, combining global scale with an expanded portfolio of leading-edge technologies that includes un-patterned wafer quality, 3D metrology spanning chip features from nanometer scale transistors to large die interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging. Headquartered in Wilmington, Massachusetts, Onto Innovation supports customers with a worldwide sales and service organization. For more information, visit https://ontoinnovation.com/

 

 

Strategic Highlights

 

 

• Aligned with core growth strategy: Strengthens Rigaku’s offering in semiconductor process control, a key driver of future growth
• Highly complementary technologies: Rigaku’s X-ray solutions and Onto Innovation’s complementary optical and software capabilities present strong synergies benefitting customers with deeper process insights
• Positioned for evolving industry structure: Responding to increasingly sophisticated customer requirements and growing complexity in semiconductor manufacturing
• Strengthening competitiveness: Transaction enables Rigaku to be even more competitive in semiconductor process control segment

 

Key Initiatives

 

• Establishing hybrid metrology for Front End Of Line: Enhancing measurement capabilities for advanced logic and memory devices through the combination of X-ray and optical technologies
• Expansion into advanced packaging: Accelerating entry into inspection and metrology applications in advanced packaging
• New market creation: Targeting at least $300 million in incremental market opportunity for Rigaku’s products by 2030
• Integration of software and AI: Supporting the development of integrated solutions spanning measurement, analysis, process optimization, and yield management
• Global customer reach: Utilizing Onto Innovation’s global customer base to expand Rigaku’s market presence

 

Equity Investment

 

Onto Innovation has entered into a definitive agreement to acquire 61,123,436 shares (27.0% of total shares outstanding as of March 31, 2026, excluding treasury shares) of Rigaku from Atom Investment, L.P., establishing a long-term strategic alliance between the two companies.

 

 

Governance

 

 

Rigaku will maintain its management independence as a publicly listed company. The agreement also includes provisions to ensure a stable, long-term alliance, including certain restrictions on share transfers and additional acquisitions.
For more details, please refer to the timely disclosure released today, available on Rigaku’s website and the Tokyo Stock Exchange website.

 

 

About the Rigaku Group

 

 

Since its establishment in 1951, the engineering professionals of the Rigaku group have been dedicated to benefiting society with leading-edge technologies, notably including its core fields of X-ray and thermal analysis. With a market presence in 136 countries and regions and some 2,000 employees from 9 global operations, Rigaku is a solution partner in industry and research analysis institutes. Our overseas sales ratio has reached approximately 70% while sustaining an exceptionally high market share in Japan. Together with our customers, we continue to develop and grow. As applications expand from semiconductors, electronic materials, batteries, environment, resources, energy, life science to other high-tech fields, Rigaku realizes innovations “To Improve Our World by Powering New Perspectives.”
For details, please visit: rigaku-holdings.com/english

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420467739/en/

 

Business Wire India

The latest Omdia research shows that India’s smartphone shipments fell by 5% year on year to 30.9 million units in 1Q26, reflecting seasonally weak demand compounded by cautious channel inventory strategies. Demand was pressured by macro headwinds, including rupee depreciation and rising inflation weighing on affordability and delayed consumer upgrades. Additionally, earlier front-loading ahead of expected price increases limited incremental channel intake.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260420951921/en/

 

 

 

vivo retained its leadership position in 1Q26, shipping 6.3 million smartphones to reach 20% market share. Samsung followed in second place with 5.1 million units and 16% share, supported by new launches toward the end of the quarter. OPPO (excluding realme and OnePlus) strengthened its position, securing third place with 4.7 million units and 15% share, marking the strongest growth among the top five vendors. Xiaomi and Apple rounded out the top five with shipments of 3.8 million and 2.9 million units, respectively. For Apple, 1Q26 marks its first Q1 appearance in India’s top five.

 

“Amid growing supply-side pressures, the top vendors showed resilience as many long-tail vendors began to struggle,” said Sanyam Chaurasia, Principal Analyst at Omdia. “vivo retained the leadership position for a seventh consecutive quarter, boosted by strong sell-out visibility and traction from the V70 series. Samsung had a late-quarter boost driven by flagship Galaxy S26 and refreshed mid-range A-series, alongside strong volumes from entry-level A07 and A17 models. OPPO emerged as the fastest-growing vendor among the top 10, driven by robust momentum across the A6x, K14 and Reno 15 series. Reno 15’s performance was supported by a wider lineup with a broader SKU mix across mid-to-premium segments. In contrast, smaller vendors struggled to absorb rising costs and sustain channel confidence, leading to sharper declines after a period of expansion, with only a few players such as Motorola, iQOO and Google showing relative resilience.”

 

 

“In 1Q26, vendors took different approaches to pricing as cost pressures intensified,” added Chaurasia. “These shifts reflected diverging priorities across pricing, margins, launch cycles and channel inventory, exposing clear strategic differences. OPPO’s flat, portfolio-wide hikes signaled a rapid margin reset, effectively re-anchoring price ladders. Xiaomi’s tiered increases reflected a profit-optimising approach, selectively incentivising sales of higher-value SKUs. In contrast, Samsung and vivo adopted phased adjustments, aiming to protect demand and ensure smoother channel absorption. This divergence was most visible in the ₹10,000–₹20,000 segment, where uniform hikes eroded affordability. At the same time, overlapping old and new inventory made channel execution a key differentiator. As 2Q26 began with further price increases, the market is shifting from a tactical adjustment to a structural reset, where balancing margins and demand will define vendor performance.”

 

 

“Looking ahead, the Indian smartphone market is facing severe downside risk in 2026 with shipments forecast to decline by double digits. Price increases have accelerated into 2Q26, with entry-level devices already seeing steep increases of 18–20% as sustained memory inflation has forced a reset of price points. At the same time, macro headwinds will constrain discretionary spending. In this environment, vendors must balance margin recovery with demand sensitivity, while channels tighten inventory alignment to avoid disruption. Upgrade cycles are set to elongate as consumers delay purchases while entry-level demand increasingly shifts toward repairs, second-hand devices and financing-led options.”

 

 

“Although 2026 will test vendor discipline and tactics, vendors cannot afford to wait for conditions to improve, assuming supply-side pressures are short-term. The vendors best positioned in the long-term are those that adapt their business and revenue models for the long term, rather than simply focusing on short-term survival,” concluded Chaurasia.

 

 

India’s smartphone shipments and annual growth
Omdia Smartphone Market Pulse: 1Q26
Vendor	1Q26 shipments (million)	1Q26 market share	1Q25 shipments (million)	1Q25 market share	Annual growth
vivo	6.3	20%	6.3	20%	0%
Samsung	5.1	16%	5.1	16%	0%
OPPO	4.7	15%	3.9	12%	21%
Xiaomi	3.8	12%	4.0	12%	-6%
Apple	2.9	9%	3.2	10%	-11%
Others	8.2	27%	9.9	30%	-16%
Total	30.9	100%	32.4	100%	-5%
Note: vivo excludes iQOO. OPPO excludes realme and OnePlus. Xiaomi estimates include sub-brand POCO. Percentages may not add up to 100% due to rounding.
Source: Omdia Smartphone Horizon Service (sell-in shipments), April 2026

 

ABOUT OMDIA

 

Omdia, part of Informa TechTarget, Inc. (Nasdaq: TTGT), is a technology research and advisory group. Our deep knowledge of tech markets grounded in real conversations with industry leaders and hundreds of thousands of data points, make our market intelligence our clients’ strategic advantage. From R&D to ROI, we identify the greatest opportunities and move the industry forward.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420951921/en/

 

Business Wire India

SaniSure® today announced the launch of PETG PharmaTainer™, a new line of bioprocessing bottles and carboys combining widely accepted, medical-grade Eastman Eastar® PETG 6763 resin (DMF#9987) with SaniSure’s proprietary process and advanced automation. This launch expands SaniSure’s established PharmaTainer® platform—extending its proven cleanliness, robustness, and performance attributes to include industry-standard PETG alongside its existing PET and PC offerings.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260420641769/en/

 

 

 

Available in volumes from 10 mL stability vials to 10 L carboys — in sterile (gamma-irradiated) and non-irradiated configurations — PETG PharmaTainer supports the full bioprocessing workflow. Standard and fully custom assemblies with Cap2V8® closures and Cellgyn™ TPE tubing are available for both open and closed operations. Start with PharmaTainer in early-stage R&D and carry the same platform through clinical and commercial phases — eliminating the need for requalification when scaling.

 

For part numbers, ordering information, and technical specifications, visit sanisure.com/petg or contact your SaniSure representative.

 

 

“With PETG PharmaTainer™, we are shifting cleanliness from a post-processing step to a fully automated, built-in standard – enabling us to confidently deliver the cleanest bioprocessing containers on the market for our customers’ most critical applications. Our bottles provide the lowest possible levels of particulates, endotoxins and RNase/DNase – by design – while minimizing adoption timelines.”
— Steven Chevillotte, CEO of SaniSure®

 

 

Cleaner by Design: What Sets PETG PharmaTainer™ Apart

 

 

Our PETG PharmaTainer delivers a validated suite of cleanliness and compliance attributes consistent with those of our PET and PC bottles:

 

 

• Ultra-Low Particle Levels: Certified to less than 5% of USP <788> limits for sub-visible particulates, tested at lot release — no post-wash required.
• Exceptional Endotoxin Control: Results consistently below 0.001 EU/mL detection limit per USP <85> — achieved by design, not by washing.
• RNase/DNase-Free Certified: Validated for nucleic acid-based therapies including mRNA, oligonucleotides, and gene therapy applications requiring contamination-critical containers.
• Ready-to-Use — Sterile: Gamma-sterilized to SAL 10⁻⁶, minimizing the 2–3 days of washing, depyrogenation, and sterilization steps typically required with competitive products, reducing labor and contamination risk.
• Freeze-Thaw Validated to −80°C: Suited for bulk drug substance cold chain, stability studies, and frozen intermediates across the full temperature range.
• Drop-In PETG Replacement: One-to-one volume and format compatibility with legacy PETG bioprocessing bottles; a comparability guide and dedicated technical support are included to minimize change-control burden.

 

 

About SaniSure®

 

As a trusted Single-Use Technologies (SUT) expert, SaniSure brings deep expertise in complex flow paths and closed-system design – supporting the most demanding bioprocessing and advanced therapy workflows. In addition to the PETG PharmaTainer, SaniSure provides a wide array of high-quality components, custom assemblies and SUT solutions.

 

 

Where larger organizations often lack flexibility and smaller providers lack scale, SaniSure delivers the best of both – combining agility with end-to-end capabilities and deep vertical integration to help customers de-risk, scale, and innovate.

 

 

Learn more at sanisure.com

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420641769/en/

 

Business Wire India

CFOs across Asia‑Pacific are accelerating their engagement with artificial intelligence, according to the 2026 Future Ready CFO Survey – APAC Regional Insights. The findings show CFOs recognize AI’s growing influence on the finance function while advancing adoption in a deliberate, value‑driven manner.

 

The survey shows that 83% of APAC CFOs cite the adoption and implementation of AI as a key force reshaping finance, closely aligned with the 85% global figure. This near‑parity underscores AI’s rising importance across regions, even as APAC finance leaders emphasize disciplined execution shaped by governance expectations and return‑on‑investment considerations.

 

 

Kumiko Minowa, APJ Managing Director of CCH Tagetik at Wolters Kluwer, said:

 

 

“AI is clearly reshaping finance across APAC, and CFOs in the region recognize its strategic importance just as strongly as their global peers. What sets APAC apart is the mindset behind adoption. Finance leaders here are investing in AI with a clear focus on governance, value realization, and human oversight. This disciplined approach is essential in a region defined by regulatory complexity and rising stakeholder expectations.”

 

 

AI’s expected impact on finance: strong momentum across APAC

 

 

Beyond recognizing AI as a transformative force, APAC CFOs also anticipate meaningful impact on finance operations in the near term. Seventy‑two percent of APAC finance leaders expect AI to have a significant impact on their finance function within the next three years, signaling broad confidence in AI’s potential to enhance insight, agility, and decision‑making.

 

 

Rather than viewing AI primarily as an automation tool, APAC CFOs are targeting use cases that strengthen control and strategic foresight. The finance activities most likely to be transformed by AI include:

 

 

• Financial planning and analysis (69%), enabling deeper performance insight
• Forecasting and scenario modeling (66%), supporting better navigation of market volatility
• Risk management and compliance monitoring (64%), reinforcing oversight and regulatory confidence

 

This approach reflects a regional preference for deploying AI in ways that complement human judgment and strengthen financial governance.

 

Measured Adoption Driven by Governance and ROI

 

 

While AI adoption momentum in APAC closely mirrors global trends, finance leaders in the region express heightened sensitivity to execution risks. Key barriers shaping AI investment decisions include:

 

 

• Cost relative to expected return (58%)
• Concerns around loss of human judgment and oversight (55%)
• Data quality and governance challenges (53%)

 

These factors reinforce why APAC CFOs are moving forward with AI at a controlled pace, ensuring that new capabilities are well‑governed, transparent, and aligned with regulatory expectations.

 

This cautious discipline is consistent with the broader APAC finance agenda, where regulatory and compliance demands remain the most influential force shaping finance, cited by 86% of CFOs, slightly higher than the global average.

 

 

The CFO role expands at the intersection of AI, risk, and strategy

 

 

As AI becomes more embedded in finance, APAC CFOs anticipate an expanded leadership role—particularly at the intersection of technology and enterprise risk. Many expect greater involvement in:

 

 

• Technology and digital strategy (61%)
• Enterprise‑wide risk management (59%)
• Strategic decision‑making support (57%)

 

This evolution positions APAC CFOs as stewards of both innovation and resilience, balancing modernization with accountability and control.

 

Looking ahead: disciplined AI as a source of long‑term advantage

 

 

As AI continues to transform finance globally, the survey suggests that APAC CFOs may gain a long‑term advantage by aligning AI investment with strong controls, talent readiness, and regulatory confidence. Rather than pursuing speed alone, finance leaders across the region are focused on building sustainable, trusted capabilities that support resilient growth.

 

 

Those who successfully balance innovation with governance are likely to be best positioned to navigate the next phase of finance transformation.

 

 

Methodology

 

 

This press release references findings from the 2026 Wolters Kluwer Future Ready CFO Survey. Senior finance leaders were defined as those currently working in a finance role at the C-suite, VP, Head, or Director level. Respondents worked at organizations with 1,000 or more employees and annual revenue of $500 million or more. The global study includes 1,672 respondents across more than 20 markets; the APAC regional insights reflect responses from 484 senior finance leaders in Asia Pacific markets.

 

 

About Wolters Kluwer

 

 

Wolters Kluwer (EURONEXT: WKL) is a global leader in information solutions, software and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

 

 

Wolters Kluwer reported 2025 annual revenues of €6.1 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,100 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

 

 

Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX, Euro Stoxx 50, and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

 

 

For more information, visit www.wolterskluwer.com, follow us on LinkedIn, Facebook, YouTube and Instagram.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420359847/en/

 

Business Wire India

Leaders of Dubai-based unicorn companies have reaffirmed the emirate’s status as a global hub for digital innovation and technology-led growth. The senior executives highlighted Dubai’s forward-looking regulatory environment, advanced infrastructure, and ability to attract international talent as key factors strengthening its appeal for high-growth digital businesses.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260420503062/en/

 

 

 

They noted that Dubai has evolved into a strategic launchpad for ambitious companies, offering an agile business environment that supports innovation and enables expansion into regional and international markets. The business leaders also praised the strong alignment between the public and private sectors within Dubai’s digital ecosystem, supported by Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers.

 

Mohamad Ballout, CEO and Co-founder of Kitopi, commented: “Dubai’s digital ecosystem has been a major enabler of our growth. The city offers a strong combination of forward-looking regulation, world-class infrastructure, access to exceptional talent, and a business environment that makes it easier to build, test, and scale quickly. Its connectivity to regional and global markets has also been critical as we’ve expanded our ambitions beyond the UAE.”

 

 

Fernando Fanton, Chief Product and Technology Officer at Property Finder, stated: “Dubai is no longer just a place to set up a business; it is the place to build the future of your industry. The emirate’s sophisticated digital infrastructure and transparent framework allow us to test, iterate, and scale tools efficiently, while strong relationships with investors and regulators enable us to navigate complexity and turn insights into actionable solutions.”

 

 

Roman Axelrod, Founder and Managing Partner at XPANCEO, said: “Dubai is evolving into a new global magnet for innovation, echoing the early spirit of Silicon Valley; yet it does so while staying true to the principles on which it was built: transforming impossible challenges into strategic opportunities through global partnership. The real question for founders today is no longer whether Dubai can sustain ambitious scientific research and development; it’s whether your own ambition is bold enough to keep pace with Dubai’s vision.”

 

 

About Dubai Chamber of Digital Economy

 

 

Dubai Chamber of Digital Economy works to position Dubai as a global leader in the digital economy. Its mandate includes attracting companies, talent, and investment while creating a supportive environment for digital business growth.

 

 

Source: AETOSWire

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420503062/en/

 

Business Wire India

STL Optical Connectivity NA, LLC, (STLOC), a U.S. subsidiary of STL (Sterlite Technologies Ltd.) [NSE: STLTECH], a leading connectivity solutions provider for AI-ready digital infrastructure, today announced the U.S. launch of Neuralis, its flagship suite of data center connectivity solutions, at Data Center World 2026 in Washington, D.C.

As AI, hyperscale computing, and edge workloads redefine the digital landscape, STL Neuralis emerges as the “central nervous system” for modern data centers. Drawing its name from the intricate, interconnected pathways of a neural network, STL Neuralis portfolio is designed to provide the seamless connectivity and ultra-high-speed processing power required to sustain today’s most demanding data center environments.

Click here for the video – https://www.youtube.com/watch?v=e1E8D2Wyz5o

Neuralis is the result of deep co-creation with STL’s customers, solving density and space challenges for data center builders. With a nationwide presence, STLOC is committed to helping U.S. Data Center operators scale their AI infrastructure with speed, reliability, and high-quality products.

Modern AI data centers are shifting from traditional North-South traffic to intensive East-West traffic patterns, driven by front-end and back-end networks and AI training workloads. Neuralis addresses these challenges by offering a robust, integrated foundation that scales effortlessly.

The STL Neuralis suite is categorized into two mission-critical pillars:

• Maximizing the AI Whitespace: Utilizing ultra-high-density, MMC and MPO cabling, Neuralis supports the massive fiber counts required by GPU clusters. By moving terminations to the factory, STL reduces onsite labor risks and accelerates deployment timelines.
• High-Speed Data Center Interconnect (DCI): Engineered for the Data Center campus edge, this infrastructure ensures petabyte-scale data moves seamlessly. The flagship Celesta IBR series leads the industry with ultra-compact cables featuring up to 6,912 rollable ribbon fibers, available in SM A2 fiber with 8,12 & 16F ribbon, designed to withstand the intense thermal and safety demands of AI deployments.

With the launch of STL Neuralis, STL further establishes its unique position as a fully vertically integrated partner with its customers, incorporating the entire lifecycle of connectorization: 

1. Ultra-Pure Preform: Creating the glass preform from silica.
2. Fiber Drawing: Precision-pulling fiber to exacting standards.
3. Advanced Cabling: Integrating fibers into the Celesta IBR series.
4. Connectorization: Delivering tested, plug-and-play pre-terminated assemblies and associated connectivity hardware.

“AI demands a level of precision and density that traditional cabling simply cannot meet,” said Ankit Agarwal, Managing Director, STL. “With STL Neuralis, we are providing the high-speed, low-latency foundation that allows GPU clusters to perform at their peak, moving complexity out of the field and into a controlled, high-precision factory environment.”

The launch of STL Neuralis marks a significant milestone in STL’s journey to enable customers in North America. By combining its state-of-the-art manufacturing capabilities in Lugoff, South Carolina, STL ensures that hyperscalers and Neoclouds providers can build future-ready AI infrastructure that meets the specific demands of the US digital economy.

Business Wire India

Himalaya Wellness Company hosted the Delhi edition of the ‘Mindful Strides 5K Walkathon’ today at Major Dhyan Chand National Stadium. Now in its fourth year, the 5K walkathon, inaugurated by KG Umesh, Director–Human Resources, Dr. Babu U V, Director–R&D, and Dr. Rangesh, Director–Intellectual Property, Himalaya Wellness Company. This event brought together over 4,000 participants from across the city to promote mental well-being and raise awareness about mental health.

Delhi was chosen as the host city, having been identified as India’s most stressed city with 37.7% of residents reporting significant stress levels according to Himalaya’s nationwide Stress Test. This highlighted an urgent need for proactive mental health conversations and solutions in the capital.

The walkathon started at Major Dhyan Chand National Stadium, covered C-Hexagon, Kartavya Path, and the Janpath crossing, and concluded at the National Stadium.

“Mental well-being is an essential aspect of overall health, and we believe in fostering awareness through community-driven initiatives like the Mindful Strides Walkathon,” said KG Umesh, Director–Human Resources, Himalaya Wellness Company. “Walking together, even for a single morning, can build mental resilience and help break the stigma surrounding mental health. It can spark vital conversations that genuinely shift how people think about their mental well-being and encourage them to seek support.”

Mindful Strides has demonstrated consistent growth, originating in Bengaluru in 2023, followed by Chennai in 2024, and Mumbai in 2025. The Delhi edition attracted a diverse group from across the city, including corporate professionals, fitness enthusiasts, students, families, and mental health advocates, reflecting a growing public appetite for open discussions on mental health. Many expressed gratitude for an initiative that provided a safe, supportive, and accessible platform to address mental health concerns openly.

More than just a fitness event, Mindful Strides primarily aims to break the pervasive stigma surrounding mental health. While research consistently highlights the positive link between regular physical activity and reduced stress, anxiety, and depression, the successful Delhi edition marked another milestone in Himalaya Wellness Company’s broader commitment to making mental health awareness a mainstream, everyday conversation across India.