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Survey finds 89 pc people facing call drops, 9 in 10 use wifi to make calls through OTT
Around 89 per cent of people surveyed by Localcircles have experienced call drops in the last three months, while nine in 10 have used Wi-Fi networks to make calls through calling and messaging apps. The survey was conducted between March and June and received a total of 32,000 responses from 362 districts.
TCS Q1 results; Pine Labs, Swiggy valuations slashed
Indian IT bellwether TCS kicked off the tech earnings season with a 9% YoY growth in net profit for the June quarter. This and more on today's ETtech Top 5.
Tata Elxsi inaugurates mobility innovation centre in Bengaluru
Tata Elxsi and Emerson's TENMIC in Bengaluru focuses on automotive innovation, emphasizing electrical/electronic architecture, electrification, and connectivity. Shaju S mentions its connection to India's R&D ecosystem and global OEMs. The centre advances software-defined vehicles, EV systems, and autonomous driving. Shitendra Bhattacharya from Emerson highlights comprehensive automated solutions and testing in India & ASEAN.
Electric mobility startup Vidyut launches offline pre-owned EV sales, financing platform
Vidyut has launched an offline pre-owned EV platform in Delhi-NCR, Hyderabad, and Bengaluru, with plans to expand. An online marketplace is coming in six months. They handle the full process, reselling EVs from major brands. Their battery subscription model and financing services tackle EV adoption challenges. Vidyut, started in November 2021, aims to improve EV accessibility.
Stressed logistics firms are turning to used trucks to cut costs
The used truck market has seen price hikes, with Shriram Mobility Bulletin reporting a 38% rise in the 1.5 to 2 tonne segment, 22% in 2 to 3.5, and 21% in 3.5 to 7.5 tonne. Ashutosh Pandey cites logistical stress and rising new vehicle prices. Shriram Finance notes 25-30% increases due to subdued sales, forecasting strength in the pre-owned segment.
Govt mainstreamed startups; used to be at the bottom of food chain: Paytm's Vijay Shekhar Sharma
The 'American dream' folklore in business and technology parlance has given way to the 'Indian dream' and 'Indian startup', Paytm founder Vijay Shekhar Sharma said, adding that this is "truly a golden period" for founders and entrepreneurs here.
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Congress slams govt over mobile phone tariff hike by 3 leading firms
The Congress party criticized the Modi government for allowing three major private telecom companies—Reliance Jio, Bharti Airtel, and Vodafone Idea—to increase mobile service tariffs, accusing them of profiteering from 109 crore users. Congress leader Randeep Surjewala condemned the unilateral tariff hikes, highlighting that the companies collectively raised rates by an average of 15% effective July 3 and 4, 2024.
Telecom tariff hike: Govt, regulator won't intervene in matter
The government and the telecom regulator do not plan to intervene in telecom companies' decisions to raise prices, stating that tariffs in India remain among the lowest globally. Authorities, however, want the companies to enhance the quality of services.
Airtel, Jio, Vodafone Idea push long-term plans at old rates to retain users
After announcing telecom pack price hikes of up to 25% effective July 3-4, telcos are urging subscribers to recharge long-term plans at old prices to reduce customer attrition. Bharti Airtel, Reliance Jio, and Vodafone Idea (Vi) are promoting 365-day plans priced between Rs 2,545 and Rs 3,099 through in-app promotions.
VCs chase auto parts makers to hitch a ride on EV journey
Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.
India catching up with China, Vietnam on phone exports
India is rapidly narrowing the gap with China and Vietnam in mobile phone exports. In FY24, while mobile phone exports from China and Vietnam declined by 2.78% and 17.6% respectively, Indian exports surged by 40.5%, according to officials citing global trade data. India has captured nearly 50% of the reduction in mobile phone exports from these two countries, aligning with its objective of absorbing a significant portion of the supply chain shift from China.
Why the Digital Competition Bill has started a polarising debate in the tech industry
India’s Digital Competition Bill has turned previous foes in the tech industry into unlikely allies and sparked a polarising debate on market practices. The Committee on Digital Competition Law (CDCL) on February 27, submitted its report to the ministry of corporate affairs (MCA) after working on it for more than a year.
Priyank Kharge meets IT minister Ashwini Vaishnaw, requests Centre's support for state's chip firms
Karnataka IT minister Priyank Kharge met Ashwini Vaishnaw, union IT minister, to seek support for the state's semiconductor and electronics space. Kharge said that the State has the highest share of 46% in India in housing innovative companies and contributes 10% of India's industrial output.
Nazara Tech inks deal to publish nCore’s FAU-G Domination mobile shooter game
FAU-G, which will be published through Nazara’s publishing arm, had initially seen 50 million downloads but could not stand up to competition from BattleGrounds Mobile India and FreeFire range of games.
Tencent's 'Dungeon & Fighter' game dominates China's mobile download charts
Industry experts Liam Mo, Casey Hall, and Miyoung Kim shed light on Tencent's strategic gaming moves and revenue challenges, unveiling the evolving dynamics of mobile gaming.
Flipkart-Swiggy deal talks; Corning’s India plan
Flipkart considered buying a stake in Swiggy months ago amid the rise of quick commerce. This and more in today’s ETtech Morning Dispatch.
US probing China Telecom, China Mobile over internet, cloud risks
The Biden administration is investigating China Mobile, China Telecom, and China Unicom over concerns they could misuse access to American data through their U.S. cloud and internet services by sharing it with Beijing. The Commerce Department is leading the probe, which has completed "risk-based analyses" of China Mobile and China Telecom. These companies, despite being barred from providing certain services, still offer cloud and internet routing services in the U.S., posing potential national security risks. The investigation aims to close any remaining avenues for Chinese firms to access U.S. data, amid ongoing tech tensions.
Amara Raja inks licensing pact with GIB EnergyX for Li-ion cells technology
Amara Raja Advanced Cell Technologies Pvt Ltd signed a licensing agreement with GIB EnergyX Slovakia s.r.o. for Gotion's 'LFP technology' for lithium-ion cells.
Route Mobile enables WhatsApp ticketing for Nagpur, Hyderabad, Pune metro services
Route Mobile has partnered with Billeasy E Solutions to offer WhatsApp-based metro rail ticketing services in Nagpur, Hyderabad, and Pune, expanding to four Indian cities including Delhi. Users can chat with the metro's WhatsApp account, select stations, purchase tickets, and receive QR codes. Route Mobile's shares rose 13.59% to Rs 1,737 on the BSE.
Telecom sector revenue surges 87% to Rs 2.4 lk cr in FY24: Report
Telecom sector revenue in FY24 reached Rs 2,39,900 crore ($29 billion), an 87% increase from its FY19 low following Reliance Jio's market entry and about 40% higher than FY16 figures, according to a CLSA report. This surge reflects the continuing subscriber gains by Jio and Airtel at Vodafone Idea's expense, with Jio and Airtel now controlling 78% of the sector's revenue combined, a figure CLSA expects to rise to 83% by FY26.
Third-party firms Delhivery, Xpressbees look to sort out logistics of quick commerce race
Third-party logistics firms like Delhivery and Xpressbees are venturing into the quick-commerce sector to support platforms such as Swiggy Instamart, Blinkit, and Zepto as demand surges. Sensing opportunity in the q-commerce space, Delhivery has started to work with Swiggy Instamart’s larger warehouses which supply to small dark stores, or fulfilment centers. Meanwhile, Xpressbees is talking to multiple players for the same.
UPI boosts RuPay market share; cost pressure for gaming firms
Happy Thursday! The integration of UPI with RuPay credit cards has pushed up new issuances but transaction growth hasn’t kept up. This and more in today's ETtech Morning Dispatch.
India's EU-like antitrust law worrying technology firms
India's proposed antitrust law, influenced by a panel report, targets tech giants with global turnovers exceeding $30 billion. The law aims to prevent market concentration, similar to the EU's Digital Markets Act.
Battery Smart raises $65 million at $340-million valuation
Battery Smart's funding round included investments from Blume Ventures, British International Investment, and Ecosystem Integrity Fund. These investors have shown increased interest in the company.
How India's new brain power adds to its economic brawn
India is transitioning from being the telemarketing voice of MNCs to their intellectual hub with the rise of GCCs. These fully owned and integrated hubs are driving growth, innovation, and value creation by leveraging India's talent pool. With a projected doubling of GDP share by 2030, GCCs are transforming India's economy and IT landscape, attracting global companies seeking tech talent and cost efficiency.
SMS makes a strong comeback as global firms shift away from WhatsApp
Global tech firms like Amazon, Google, and Microsoft have returned to using SMS OTPs in India after Meta's WhatsApp changed pricing and norms for international authentication messages. This has led to a 50-70% increase in monthly international SMS volume for telecom operators in India since March.
ABB Mulling Sale of Some Electric Mobility Assets
ABB is considering selling part of its E-mobility business, including EV charging stations and R&D facilities in China, with potential buyers showing interest. The sale could fetch $100-200 million, but ABB may opt against it. The assets include ABB E-mobility's direct and alternating current charger operations. ABB has not commented, but notes it has sold over 1 million EV chargers globally. The company's CEO sees growth potential in China.
How an Israeli firm tried to build anti-BJP narrative during polls
OpenAI claims to have disrupted an AI-based covert operation launched by an Israeli firm that allegedly peddled anti-BJP agenda. In 2021, the BJP government drew flak after Israeli spyware Pegasus was allegedly used to snoop on journalists, Opposition leaders and rights activists
Finvolve closes maiden funds at Rs 100 crore
Gurugram-based angel investment firm Finvolve will look to back about 25-35 sector-agnostic startups with a minimum investment of Rs 25 lakh.
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