India smartphone shipments rise 9.3% in Q3; Xiaomi leads the list
Posted on 11th November 2019 |
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Multiple online sales festivals, new launches and price corrections on a few key models by brands helped smartphone shipments in India grow 9.3 per cent in the July-September quarter to touch record 46.6 million units, research firm IDC said on Monday.
Sequentially, Smartphone shipments were higher by 26.5 per cent in the third quarter ended September 2019 compared to the previous quarter. IDC expects the smartphone market to see only mid-to-high single-digit year-on-year growth in 2019.
"This can be attributed to a strong undercurrent of passive consumer sentiment and muted shipments in the last quarter of the year due to a record Q3 2019 when channel stock levels went up," IDC India Research Director (Client Devices and IPDS) Navkendar Singh said.
Additionally, the unabated aggression of the online players will continue to be a challenge for the offline channel, which remains the largest channel for smartphones in India, he added.
"All these give us an indication of sluggish growth next quarter," Singh said.
The feature phone market, which accounted for 43.3 per cent of the total mobile phone shipments, registered a 17.5 per cent year-on-year (y-o-y) decline in the September 2019 quarter to 35.6 million units.
Shipments of 4G-enabled feature phones declined 20.3 per cent y-o-y due to heavy inventory in the channel, while that of the 2G and 2.5G market fell 16.2 per cent in the said quarter, IDC said.
"The continued aggression by the online platforms with attractive cashback and buyback offers as well as affordability schemes like no-cost EMIs (equated-monthly instalments) and financing options were key in taking the share of the online channel to a record high of 45.4 per cent with y-o-y growth of 28.3 per cent," IDC India Associate Research Manager (Client Devices) Upasana Joshi said.
According to IDC, the offline channel "continued to face challenges", leading to a 2.6 per cent y-o-y decline in the third quarter.
Even as the offline channel players tried to match their offers in line with the online players, they fell short of the attractive deals that a consumer could grab in the online space and were still dealing with leftover inventory from previous quarters, the report said.
Consumer enquiries and footfall were relatively slow at the retail counters through September, compared to the previous years, it added.
Xiaomi continued to lead the tally with 27.1 per cent share, followed by Samsung (18.9 per cent), Vivo (15.2 per cent), Realme (14.3 per cent) and Oppo (11.8 per cent).
The average selling price for the overall smartphone market was $ 159, up 2.7 per cent y-o-y.
The low-end price segment of $ 200 accounted for 80 per cent of the smartphone market in the September quarter, while the mid-range segment ($ 200-500) contributed 18.9 per cent of the shipments.
The fastest-growing segment was the $ 300-500 with double the shipments y-o-y as models like the OnePlus 7, Xiaomi Redmi K20 Pro and Vivo V15 Pro saw good traction, IDC said.
The premium (over $ 500) segment saw Apple continuing to dominate the market with a share of 51.3 per cent on the back of "affordability offers and price drops on previous generation models". |
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I-T dept issues tax refunds of Rs 1.57 trillion, up by 27.2% in 2019
Posted on 13th December 2019 |
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The Income Tax Department has issued as much as Rs 1.57 trillion of income tax refunds in the first eight-and-a-half-months of the current fiscal compared to Rs 1.23 trillion in full 2018-19 fiscal, Revenue Secretary Ajay Bhushan Pandey said Friday.
At a press conference called to disclose impact of steps taken to boost consumption in the economy so as to uplift growth from a six-year low, Pandey said tax refund cases have gone up by 17 per cent to 2.16 crore. |
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Andhra govt passes 'Disha Bill' to provide speedy trials, stricter punishment for sexual offences
Posted on 13th December 2019 |
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In a historic move, the Andhra Pradesh legislative assembly on Friday passed AP Disha Act 2019 to protect women and children in sexual offences cases by providing speedy investigation and justice to victims.
Chief Minister YS Jaganmohan Reddy said the Nirbhaya case and the recent Disha case have compelled the need for AP Disha Act which has many salient features. |
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Tamil Nadu overtakes Karnataka to become No 1 in renewable energy
Posted on 13th December 2019 |
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Tamil Nadu has overtaken Karnataka to become India's top renewable power generating state in FY20 (till October).
Of the total renewable power generation in the country, nearly 17.2 per cent was from Tamil Nadu. According to Central Electricity Authority (CEA) data in 2019-20 (upto October) 85,774.92 million units (MU) of power was generated through renewable energy, of which 14,771.69 MU was generated by Tamil Nadu followed by Karnataka (14,730.08 MU), Gujarat (10,505.54), Andhra Pradesh (9,638.70), Maharashtra (8,942.55) and Telangana (3794.99 ). |
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After 50% returns, 2020 may be even better year for Indian primary market
Posted on 13th December 2019 |
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India's market for initial public offerings is expected to gather pace in 2020 after this year's relatively small crop saw strong gains in the stock market.
The 14 mainboard IPOs this year have risen by an average of more than 50% since listing, data compiled by Bloomberg show. |
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HDFC rallies 2% to hit all-time high of Rs 2,363; analysts remain bullish
Posted on 13th December 2019 |
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Shares of Housing Development Finance Corporation (HDFC) hit an all-time high of Rs 2,363, up 2 per cent on the BSE on Friday after the company completed the acquisition of HDFC Credila Financial Services. The stock surpassed has its previous high of Rs 2,357 hit on July 18, 2019.
"The Corporation has completed acquisition of 11.47 million equity shares, representing 9.12 per cent of total equity of HDFC Credila for a total consideration of Rs 395 crore, from its promoter Ajay Bohora and Anil Bohora," HDFC said in a regulatory filing. |
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