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Xiaomi to Utilize a Part of IPO Funds in Indian Operations

6Aug By Gauri SinghNo Comments

BUSINESS

Xiaomi to Utilize a Part of IPO Funds in Indian Operations

The Chinese smartphone giant Xiaomi is reportedly planning to invest a part of the capital it raised from its recent IPO, into its Indian operations. The purpose behind this move is to build the ecosystem of internet services, make more startup investments and build India-specific IoT devices as stated by company’s India head Manu Kumar Jain. Along with this, the smartphone maker is also expecting to foray into the premium smartphone space in India which is currently being led by another Chinese giant OnePlus. “Some part of the global expansion money will be spent in India,” Jain stated in his first press interaction following the IPO. “We have had a great journey for smartphones, powerbanks and for Mi.com in India, but we can do a lot more on internet services, startup investments and...

Xiaomi Mi A2 to be Launched In India Exclusively on Amazon

31Jul By AnkitaNo Comments

Tech

Xiaomi Mi A2 to be Launched In India Exclusively on Amazon

Xiaomi, a leading chinese smartphone company is all set to launch its next Android One device in its portfolio, known as Xiaomi Mi A2 exclusively in India. The second generation of Android One handset has been spotted on e-commerce website Amazon. Therefore, it isn't clear whether the handset will be available for purchase on the day of the launch, August 8, or sometime later after its launch in India. SPECIFICATIONS: DISPLAY: 5.99-inch IPS LCD screen of full HD+ resolution of 2160 x 1080 pixels with 18:9 aspect ratio. COLOUR: Gold, Blue and Black WEIGHT: It measures 158.70 x 75.40 x 7.30 (height x width x thickness) and weighs 168.00 grams. PROCESSOR: Octa-core Snapdragon 660 processor (four 2.2GHz Kyro 260 cores + four 1.8GHz ...

OnePlus All Set To Open Offline Stores In India

24Jul By AnkitaNo Comments

BUSINESS

OnePlus All Set To Open Offline Stores In India

Chinese smartphone Company OnePlus recently announced that it is all set to launch three new offline retail stores with an aim to expand its footprint in India. OnePlus has built its business around the online-exclusive model. The company had launched an offline store in Bengaluru last year, and has announced that it is adding three more stores on 28th July 2018 in, -Bengaluru -Mumbai -Kolkata The stores will be open in 4th Block, Jayanagar in Bengaluru, Central Mall in Mumbai, and South City Mall in Kolkata. This move has been taken to allow the company’s users get better access to offline stores and service centres in order to enhance the customer experience in the country. The company has also opened a registration page and it will offer assured gifts on the purch...

Indus Software Taken Over By Ebix For $29 million

21Jul By Gauri SinghNo Comments

ACQUISITION

Indus Software Taken Over By Ebix For $29 million

Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. Recently announced that it has acquired India based Indus Software Technologies Pvt. Ltd. (Indus), a global provider of enterprise Lending software solutions to financial institutions, captive auto finance and telecom companies, for approximately $29 million including $5 million of contingent earn-out. Indus will be tightly integrated into Ebix’s Financial Exchange, EbixCash offering in India and abroad, with key Indus business executives becoming an integral part of the combined EbixCash senior leadership. The acquisition of Indus will increase the employee strength of Ebix in India by 900 to approximately 7,200 ...

Vivo Nex Launches in India Featuring The Pop Up Camera

20Jul By Gauri SinghNo Comments

Tech

Vivo Nex Launches in India Featuring The Pop Up Camera

Vivo, one of the leading Chinese multi-national smartphone manufacturers, has launched its VIVO NEX with “Elevating Camera” and “Ultra Full View” display in India. The main attraction of this smartphone is its pop-up camera along with edge-to-edge display with very little bezels, and in-display fingerprint scanner. The phone is priced at ₹44,990 and will be available for pre-order till July 25 exclusively on Amazon India and the company’s official website vivo.com. Recently, Vivo offered an Amazon Pay cashback of ₹1,000 on the phone during the Prime Day sale. Those who claimed the cashback will get the refund on their Amazon Pay balance on or before August 15. The attractive pop-up camera mechanism has only a front-facing 8MP selfie camera, unlike the Oppo Find X in ...

Canada’s National Pension Fund to Augment Investment in India

20Jul By Gauri SinghNo Comments

News

Canada’s National Pension Fund to Augment Investment in India

Canada’s national pension fund which is managed by Canada Pension Plan Investment Board (CPPIB) has put in nearly C$7 billion ($5.30 billion) in India soon after making an entry into the market ten years ago. It is seeking opportunities to put in money in the Indian infrastructure, real estate projects and power. Canada’s largest public pension scheme is seeing India as the main area for investment in Asia. This seems to be because India invests a valuable amount into infrastructure development. “As a long-term investor, Asia Pacific is very important... India is our focus market in the Asia Pacific,” said Suyi Kim, senior managing director and head of Asia Pacific, CPPIB. Indian Government that is led by Prime Minister Narendra Modi has plans to bolster the economy. Also, it aims to ...

HTC Quits the Indian Market, Chinese Players Dominate

19Jul By Gauri SinghNo Comments

News

HTC Quits the Indian Market, Chinese Players Dominate

The technology company and smartphone maker HTC is reportedly quitting the Indian market. The major factor behind this exit has been reported as the wide invasion of the Chinese companies in the Indian smartphone market. The Chinese players such as Xiaomi, Redmi and Oppo cover almost 70-80 percent of the market in India. The company has told around 70-80 employees to leave. However, there are a few exceptions including chief financial officer Rajeev Tayal. After abruptly stopping the local manufacturing for almost a year now, the company is breaking all the distribution contracts in the country. An executive stated that HTC may look forward to entering the Indian smartphone market again as an online exclusive brand, but that will happen only after it’s able to turnaround sales global...

LinkedIn Hits the 50 Million User Milestone in India, Non-metros Dominate

17Jul By Gauri SinghNo Comments

News

LinkedIn Hits the 50 Million User Milestone in India, Non-metros Dominate

The professional social networking platform LinkedIn has successfully reached the milestone of 50 million users in India. Two years ago, the user base of the company was around 37 million including students and people from smaller towns. LinkedIn is a business and employment-oriented social platform that has been specially designed for career and business professionals to connect. The company is the best platform for building connections for freelance work, a customer base, potential partners, and to keep job prospects open. The company stated that the people who belong to non-metro cities and other backward areas have been increasing on the platform for the purpose of staying professionally connected and also for the job opportunities. LinkedIn had introduced its app’s lighter ve...

Alibaba Launches a Programme To Strengthen its Presence in India

14Jul By Gauri SinghNo Comments

News

Alibaba Launches a Programme To Strengthen its Presence in India

Alibaba Group, the popular Chinese conglomerate has announced the launch of its new distribution channel programme with an aim to strengthen its existence in India. The company believes that it is a great time to carry on and grow business in the country. The company had also come up with its new distribution channel programme to encourage partners to bring in-depth technical knowledge to customers, during the “India Eco Summit”. “Alibaba Cloud has always been dedicated to empower enterprises of different sizes to tap into opportunities in the digital age. With digital transformation poised to add close to $154 Bn to India’s GDP, this is a great opportunity for us to do business in India,” said Alex Li, General Manager of Alibaba Cloud Asia Pacific. With this new strategy and innovati...

Energy Firm Fortum Sets Up Electric Charging Stations in India

11Jul By Gauri SinghNo Comments

News

Energy Firm Fortum Sets Up Electric Charging Stations in India

Helsinki-based energy company Fortum has set up two electric vehicle charging stations in association with IndianOil. The stations have been set up at Indian Oil outlets for the general public. Nina Vaskunlahti, who is the Finland Ambassador to India inaugurated the facility by virtually charging an electric vehicle in real time situated at the Goldstrike Fuel and Services at Raj Bhavan Road. Another location for the charging station is an outlet owned by Indian Oil at Begumpet. Apart from this, the company stated it has plans to build around 150 to 200 charging points across the country in the coming years. However, the exact number of charging points will highly be dependent on the number of electric vehicles sold. In this regard, Sanjay Aggarwal, Fortum India managing director,...

Ofo To Close Down in India: Fires Majority Staff

10Jul By Gauri SinghNo Comments

News

Ofo To Close Down in India: Fires Majority Staff

World’s first station-free bike sharing platform ‘Ofo’ is reportedly closing down its operations in India. The Alibaba-backed Chinese company, therefore, has fired a majority of the staff that was responsible for its India operations. The company was established in the country last year in the month of November. It had spread its business in various cities of India including Chennai, Indore, Ahmedabad, and Pune. However, the company claimed that Ofo has stopped its operations in all the but in Pune, it has tied up with the Pune Municipal Corporation (PMC) to support the Pune Cycle Plan. Ofo had promised the employees that they would have a discussion regarding the operational roadmap for the next few years. But, these things never took place and the employees were not even given the ...

Chinese E-commerce Players Eyeing to Target Indian and Middle East Market

8Jul By AnkitaNo Comments

CHINA

Chinese E-commerce Players Eyeing to Target Indian and Middle East Market

Chinese e-commerce players are now targeting India and middle east countries markets due to high potential for economic growth as per the report in Chinese media today. According to a report from app data provider App Annie, five of the top 10 best performing cross-border e-commerce Chinese apps in the first five months such as Club Factory, SHEIN, ROMWE and JollyChic focussed on the Middle East and India markets. According to the report in Xinhua news, the Indian market enjoys a huge population and high potential for economic growth, thus attracting many e-commerce players to expand their presence. Smartphones are popular in Arab countries and local consumers have strong purchasing power. But the oil-rich countries lack textiles and other light sectors, offering cross-border e-co...