Boost For Chinese Smartphone Companies
Consumers in India spent more than 50,000 crore rupees this financial year on purchasing smartphones made by the top four Chinese brands, says a report.
This is nearly twice what they spent in the previous fiscal. That trend is set to continue with Chinese brands dominating the Indian smartphone market, analysts and industry executives said.
The four – Xiaomi, Oppo, Vivo and Honor – along with a few other Chinese brands like Lenovo-Motorola, One-Plus and Infinix, make up more than half of the total Indian smartphone market by sales.
Huawei Setting Up In Delhi
Huawei is building an ecosystem for its emerging enterprise business in India by opening a new ‘OpenLab’ in Delhi, the company said, according to a report.
The Chinese telecom gear maker is investing a total of $23 million to set up two ‘OpenLabs’ in India and in Thailand, taking the total count to 20 across the globe. It is investing $200 million over three years for setting up 20 such labs globally, including one in India.
Huawei’s enterprise business has grown over 60% on year in India in the first three quarters, driven by digitization drive of industries like BFSI, Energy and Smart Cities.
Blackstone, Sattva Favourites To Buy Property
Global private equity major Blackstone and Bengaluru-based realtor Sattva Group have emerged as the front-runners for the Hyderabad Trident property, says a report.
The property is being sold under the watch of India’s dedicated bankruptcy mechanism. The sale, being supervised by the National Company Law Tribunal (NCLT), is expected to fetch around 450 crore rupees.
The Oberoi chain, owned by EIH Limited, operates the property through a management contract.
India To ‘Adopt 5G Later’
India, along with Malaysia and Bangladesh are likely to adopt 5G technology a bit late, says a report.
Moody’s Investor Service said that these countries are likely to be late as they are still focusing on increasing the density of 4G coverage.
In its 2019 telecom sector outlook for the APAC region, Moody’s said that these markets have announced their intentions for 5G coverage but details and timelines are unclear. However, not all countries are lagging behind.
Domestic Airlines Passenger Numbers Up
Domestic airlines flew 1.14 crore passengers in September, registering a growth of 19 per cent, says a report.
This increase is over the 95.83 lakh passengers flown during the same month last year. Data released by the Directorate-General of Civil Aviation show that IndiGo retained the number one position having flown 49.20 lakh passengers.
Jet Airways, which flew 16.13 lakh passengers, took the second spot while SpiceJet, which carried 13.63 lakh passengers, was in the third place. Air India (Domestic) flew 13.45 lakh passengers followed by GoAir (9.89 lakh), AirAsia (4.98 lakh) and Vistara (4.36 lakh).
Entertainment Content Popular With Phone Users
Indian smartphone users spend 1.1 hours on an average in consuming entertainment content every day, says a report.
This is according to the joint report by Cheetah Lab and UC Media Lab. The Cheetah Lab data reveals Amazon Prime Video and Netflix have seen a significant increase in weekly active user penetration from September 2017 to September 2018, where Amazon Prime Video has tripled, and Netflix has increased by 6.8 times.
According to the total rate of content consumption on UC News Feed platform in India, entertainment is the largest category in mobile content consumption for Indian users constituting 27.4% followed by sports and lifestyle which account for 18.6% and 13.8% respectively.
Myntra Ties Up With Saif Ali Khan
Online fashion platform Myntra has launched an ethnic brand with actor Saif Ali Khan, says a report.
This move comes as Myntra plans to tap into the largely unorganised ethnic wear market, Known as ‘House of Pataudi’, Myntra co-owns majority of the brand along with Khan and Exceed Entertainment.
The company will continue to push its in-house brands, which form one-fourth of the company’s revenues.