Acme in pact with Samsung SDI to make lithium ion batteries for telecom sector in India, Africa

Energy management vendor Acme Group on Wednesday announced its partnership with Samsung SDI to manufacture and market lithium ion batteries in telecom, solar power and defence sectors in India and Africa.

Acme, which has the exclusive right to use Samsung SDI’s technology, will aim sale of up to 110 MWh of lithium ion batteries by FY 2016.

KH Kim, vice president – Marketing and Sales, Samsung SDI, said the alliance is aimed at expanding its energy storage system in India and Africa markets.

The Indian battery industry in India has been registering a CAGR of around 20 percent over the last few years.

Frost & Sullivan says the global market for Li-Ion segment was around $11.7 billion in year 2012 with 64 percent share of consumer batteries i.e. mobile phone, cameras, laptop, tablet PC and power tools, etc. This is expected to grow to double by 2016 and the share of consumer batteries in the overall segment to be reduced to 52 percent and industrial usage to grow multi-fold.

editor@telecomlead.com

Latest

More like this
Related

Telefonica deal to sell stake in fibre optic network in Peru fails

Telefonica’s plan to sell stakes in its fibre optic...

What’s the impact on Australia’s social media ban for under-16s

Two news reports from Reuters have indicated the likely...

Swisscom strategies to drive progress in fixed network market

Swisscom is leveraging innovation and AI to maintain its...

Huawei Mate 70: Can it add share in premium smartphone market?

Tech giant Huawei Technologies has introduced its Mate 70...