India | Pixr8 News

Xiaomi India generates 80% revenue from Smartphone Sales

26Apr By PriyankaNo Comments

Tech

Xiaomi India generates 80% revenue from Smartphone Sales

Smatphones continue to be Xiaomi India's major revenue churner clocking over 80 per cent of the topline in spite of it tasting success in other segments like smart TVs and fitness wearables, a company official said. The company, quoting the latest IDC data, claimed its market share in smart TVs stand at 33.5 per cent, making the Chinese smartphone major the leading player in the segment in India, surpassing its Korean rivals. "Revenue from smartphones is more than 80 per cent for us in India," the official said to Pixr8 News. Realising that smartphones will remain its mainstay business in India, the company has decided to expand its offline presence in a big way, the official said. "We are aiming to increase our share of offline revenue to 50 per cent from about 30 per cent now...

TikTok’s parent ByteDance plans $1 bn investment in India in next 3 years

21Apr By Press Trust of IndiaNo Comments

BUSINESS

TikTok’s parent ByteDance plans $1 bn investment in India in next 3 years

New Delhi: Unfazed by the ban on TikTok in India, the popular Chinese short video app's parent ByteDance remains "very optimistic" and plans to invest $1 billion in the country over the next three years. ByteDance — touted to be among the world's most valuable startups with investors like SoftBank, General Atlantic, KKR and Sequoia on board also offer platforms like Helo and Vigo Video in India. Speaking to PTI, ByteDance Director (International Public Policy) Helena Lersch said the company has been strengthening its content moderation policies over the last many months. "We are obviously disappointed by the current developments, but we are also very optimistic that we will resolve this issue. We remain committed to our Indian users. As a company, we are looking to invest $1 billi...

Zoho Subscriber Grows 45 Million and announced a New Campus in Austin

10Apr By NitishNo Comments

News

Zoho Subscriber Grows 45 Million and announced a New Campus in Austin

Zoho announced that its user base grows more than 45 million users across 180 countries, at a revenue growth rate of 39 percent year-over-year. The company also announced plans for a new 375-acre campus in Austin, which entails aggressive hiring plans and the expansion of Zoho University, a Zoho-funded technology school for high school graduates based in India, to the United States. Founded in 1996, Zoho has grown along with the explosive adoption of cloud-based software by businesses of all sizes. From day one, the company has been methodical in its approach. Zoho is financially bootstrapped, and plans to remain that way. The company does not participate in merger and acquisition activities largely because of the negative impact on customers associated with these transactions. Its ...

Spotify Register 1 million users in India in less than a week launch

6Mar By PriyankaNo Comments

News

Spotify Register 1 million users in India in less than a week launch

World’s leading paid music streaming service Spotify register more than 1 million unique users in India across its free and premium tiers in less than a week launch. As we mentioned that Spotify launched in India on Tuesday, stepping into a price-sensitive market crowded by well-funded players such as Reliance Industries’ JioSaavn and Apple’s Apple Music. The Swedish company is offering a free version that will run with ads, alongside a premium ad-free variant that will charge users 119 Indian rupees ($1.68) per month. India, with a population of 1.3 billion and more than 400 million smartphone users, is a potentially huge market for the Swedish company. According to media reports, Tencent-backed Gaana leads the Indian streaming market with over 80 million monthly users. Sp...

28Feb By AdityaNo Comments

News

Spotify Enter into Indian Market

World’s leading music streaming service Spotify launched in India. After many delays, Spotify finally stepping into a price-sensitive market like India to compete against local players like JioSaavn and Apple Music. Based in Sweden, Spotify will offer a free version of the streaming app that will run with ads, alongside a premium ad-free version that will charge users 119 Indian rupees ($1.67) per month. However, the same plans in the United States start at $9.99, $11.37 in France and $13.30 in the United Kingdom. Indian users can also opt for Spotify Premium for a day for 18 cents. With more than 400 million smartphone users, the market is potentially huge. Spotify India’s Managing Director Amarjit Singh Batra said there are interesting local challenges in India that the company...

25Jan By NitishNo Comments

ACQUISITION

German Personal Care brand Creme 21 Acquired for Euro 11-12 million

A leading German personal care brand, Creme 21 was acquired by an Indian FMCG Emami for 11-12 million euro. This is the first international acquisition of this size in this segment by Indian FMCG Emami. We had acquired a small company earlier. The brand has been acquired at around 11-12 million euro of little less than 1.5 times of sales of 8 million euro," Emami director Harsha V Agarwal said. "This international acquisition will add to about 15 per cent of total overseas revenues and is in line with the companys strategy for growth through inorganic route," he said. Creme 21 will help to expand Emami's international business which is primarily dependent on personal care. In the personal care segment alone Emami total business accounts for 70 percent in India. Creme 21 has a ...

India’s Mutual Fund & Stock Investment Platform Orowealth Acquires the WealthTrust Platform

19Jan By AdityaNo Comments

ACQUISITION

India’s Mutual Fund & Stock Investment Platform Orowealth Acquires the WealthTrust Platform

Orowealth, one of India's leading Direct Mutual Fund platforms, recently announced that it has acquired the WealthTrust platform, including the product and all its users. Orowealth is a one-stop solution for all your investment needs from investing in stocks and direct mutual funds, to financial planning, goal advisory and more. WealthTrust, also one of the India's fastest growing 'Zero Commission Wealth Management' platforms, always aimed to make investment simple and hassle-free. Mr. Nisarg Gandhi, co-founder and CEO of WealthTrust said to Pixr8 team that we evaluated several partners before finally joining forces with Orowealth, which stood out as the best option for their users. The two companies now have a combined user base of 3 lakh registered users, and their assets...

28Dec By Gauri SinghNo Comments

INDIA

Internet Access in India has Surpassed 50-crore Mark

The number of internet connections in India has grown by 65% from March 2016 to cross the 50 crore mark in 2018, in line with the target set by the Narendra Modi government three years ago. As per the latest information from the Telecom Regulatory Authority of India (Trai), by the end of September 2018, there were 56 crore narrowband and broadband connections in India. Comparatively, there were just 34 crore connections as of March 31, 2016, which increased to 42 crore by March 31, 2017. By March 31, 2018, the total number of internet connections stood at 49 crore. That number increased to 51 crore internet connections at the end of June this year before the figure touched 56 crore as of September 30, 2018. Union telecom minister Ravi Shankar Prasad had stated, “My ...

OYO Expects to Double Down on Growth in its Home Market

24Dec By Gauri SinghNo Comments

BUSINESS

OYO Expects to Double Down on Growth in its Home Market

OYO Hotels & Homes is “well-capitalised” and will be doubling down on growth in its home market of India. From the ongoing funding round, it plans to invest a fifth, or $200 million, in Asia’s third-largest economy. The SoftBank-backed company, which is in the process of raising $1 billion (Rs 7,000 crore) from a clutch of investors, doesn’t have any plan to raise further capital. “Today, we are committing to invest $200 million in India, with the focus on building strong capabilities that will help us further improve the quality of customer experience in India. We will cross leverage this in other markets as well,” he said. The communique suggests a shift in OYO’s strategy from focusing on profitability — last fiscal year it had cut losses by a third to pushing gro...

22Dec By Gauri SinghNo Comments

INDIA

India’s Smartphone Shipments to Hit 160 Million Next Year

Smartphone shipments in 2019 is expected to reach upto 160 million in India. India is expected to be the only major smartphone market to grow in 2019, following on from a strong 2018, compared with China. This compares with over an expected 150 million in 2018, compared with around 134 million in 2017. The Indian smartphone market is estimated to have grown 12% on year when global smartphone market is estimated to decline for the first time ever in a single year. Growth in the world’s fastest growing smartphone market revived in 2018 backed by a contraction in product replacement and upgradation cycles as a result of aggressive smartphone launches across price-points and an array of product financing schemes, discounts and buy-back offers, a trend which is likely to follow through ...

Xiaomi’s Mi Pay to Make a Debut in Indian Market

21Dec By Gauri SinghNo Comments

Tech

Xiaomi’s Mi Pay to Make a Debut in Indian Market

The Chinese smartphone giant Xiaomi is all set to make a debut of its payments app called Mi Pay in India. The company has started beta testing of the Mi Pay platform in the country. For this, the company has entered into a partnership with ICICI bank along with PayU to launch Mi Pay in India. The Indian variable of the app is slightly different from the NFC-powered payments app which is available in China. In India, it is similar to the Google Pay app. Also, the Mi Pay is not only a UPI payments app, it claims to support debit and credit card as well. With this, the company might take advantage of MST (Magnetic Secure Transmission) technology. MST is already used by Samsung in India for Samsung Pay. This technology allows users to use th...

Coworking Firm WeWork to Double its Space in India

21Dec By Gauri SinghNo Comments

BUSINESS

Coworking Firm WeWork to Double its Space in India

The provider of coworking workplace We Work is planning to double the coworking space it offers in India to 6 million square feet in 2019. The company is expecting to expand its presence to cities including Chennai, Pune and Hyderabad by the end of next year. The New York-headquartered collaborative workspace firm currently operates 3 million sq ft office space across Bengaluru, Mumbai and Gurgaon. “In India, WeWork started the year with over 5,000 desks and is closing it with 35,000 desks across 21 locations. With a member base of 20,000 in India, we are selling 2,000 desks a month,” said Karan Virwani Karan, chief We-Work executive officer, WeWork India. It was in late 2016 that the company made a foray into the country through a joint venture with Bengaluru-based real estate de...