SMARTPHONES PRICE RISE
Oppo expects to maintain double-digit growth in Reno series sales
While speaking on the sidelines of Reno 12 series smartphones, Oppo head of product strategy Peter Dohyung Lee said the company is working to make AI features available in entry-level smartphones.
Samsung launches sixth generation foldables amid rising competition from Chinese brands
Samsung has intensified competition in the super-premium foldable smartphone segment with the launch of its sixth generation devices, the Z Flip6 and Fold6. Despite maintaining a dominant 79% volume share in India's foldable smartphone market as of Q1 2024, Samsung faces growing competition from Chinese brands like Tecno, Motorola, OnePlus, and Vivo.
Samsung Electronics forecasts major Q2 profit jump
Samsung Electronics said Friday it expects second-quarter operating profits to rise more than 15-fold on-year as chip prices bounce back and demand for generative AI continues to grow. The world's largest memory chip maker said in a regulatory filing that its April-June operating profits were expected to rise to 10.4 trillion won ($7.54 billion), up 1,452.2 percent from 670 billion won a year earlier.
Should you be rushing to pick up the latest AI smartphone?
Samsung leads the smartphone industry with cutting-edge genAI features, while Apple introduces the groundbreaking Apple Intelligence. Sundar Pichai unveils the innovative Gemini AI assistant, and Craig Federighi presents Apple Intelligence, reshaping the future of smart devices with powerful generative models.
Kinara Capital's resilient model gives it 51% profit rise despite distress in fintech sector
The fintech company has been profitable even when the customer segment was disproportionately impacted, says Hardika Shah, Founder & CEO of Kinara Capital. She says this has happened on the back of a balanced business model and strategic planning.
Will Apple's folding iPhone create havoc in market? Expectations of tech geeks raised high. Details here
Apple iPhone has been leading the world market for a significantly long time, with the iPhone 15 being one of the bestsellers in the global market in the previous years. However, the folding iPhone is expected to break all records, according to research companies.
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Airtel, Jio free cash flow seen rising amid falling capex spends, growing ARPU
Analysts predict Bharti Airtel's and Reliance Jio's free cash flows to rise in FY26, reaching approximately Rs 56,000 crore and Rs 38,500 crore, respectively. This growth stems from reduced capital expenditures and higher average revenue per user (ARPU). Both telcos expect a surge in ARPU driven by tariff hikes and increased data usage amid 5G deployments
Cheaper 5G phones chip away at average prices
Flat Average selling prices (ASP) in the March quarter was largely due to a 22% on-year rise in shipments of mass budget phones priced at $100-200 at 16.3 million units, compared with 13.4 million units a year earlier, marking a resurgence from previous quarters.
Poco plans to sell 10 million smartphones in 2 years, aims to be among top-5 brands from third year
At the event Poco unveiled three variants of Poco F6 priced at Rs 25,999 with 8 GB RAM and 256 GB ROM storage for files, photos etc, Rs 27,999 for 12 GB RAM and 256 GB ROM variant, and Rs 29,999 for the model with 12 GB RAM and 512 GB ROM.
India's hair, groundnut oil exports witness surprise surge
Since the onset of the COVID-19 pandemic in 2020, the Indian government has implemented the "China Plus One" strategy to attract global manufacturing giants like Apple and Samsung to establish operations in India. While the primary focus has been on increasing exports of smartphones and other high-value products, there has been significant growth in other export sectors as well.
Chinese smartphone companies looking to expand their footprint face a loud adversary—Indian retailers
Chinese smartphone brands face retailer backlash in India over low margins, delayed payments, and stock issues. Retailers demand higher margins and timely settlements, impacting brands' offline expansion plans in a shifting smartphone market.
Why touchy-feely consumerism is here to stay and also thrive
The surge in e-commerce once signaled the demise of brick-and-mortar stores, but a notable shift is occurring as D2C companies expand offline. The trend extends beyond smartphones to FMCG and banking, with consumers favoring physical stores for premium items. Retailers are adapting by enhancing store sizes to provide immersive shopping experiences.
Amazon Great Summer Sale: Top deals on mobile phones from Samsung, OnePlus, Redmi and more
Discover the Amazon Sale 2024 for exclusive deals on top mobile brands such as Samsung, OnePlus, and Redmi. Grab unbeatable offers on state-of-the-art smartphones and enhance your tech journey this season. Don't overlook limited-time discounts and enhancements. Act now to capture the hottest summer deals during the Amazon Great Summer Sale 2024.
Offline smartphone sales surge in March quarter as buyers seek premium feel
Rising offline sales come amid strong demand for premium handsets where the touch-and-feel experience is crucial for customers before purchasing, say experts. Offline stores are also offering a bouquet of financing options such as no-cost monthly instalments, paper-based financing, and GST credit, along with some headroom for negotiation in the final price.
How China's iPhone killer has sharpened its knife
Huawei's technological advancements and market dominance has posed a significant threat to Apple's iPhone in China. Despite US sanctions, Huawei's innovative high-end phones like the Mate 60 series continue to outperform Apple, leading to a decline in Apple's market share.
Apple loses top spot in China market with shipments down 6.6% in Q1, data shows
In the first quarter of 2024, Apple's dominance in China's smartphone market waned as Honor and Huawei tied for the top spot. Despite Apple's promotional efforts, they struggled against fierce competition from Android manufacturers.
Prices of discretionary products like cars, TVs, phones begin to firm up
Car manufacturers like Maruti Suzuki, Honda Cars India, Toyota Kirloskar Motor and Kia India have just raised vehicle prices, mostly on fast-moving models, by up to 3% due to increase in commodity costs and adverse forex movement. Other manufacturers are also evaluating such a hike.
India smartphone up 15% on year in Q1, continues recovery: Canalys
The Indian smartphone market rebounds, reaching 35.3 million units in Q1 2024, a 15% YoY growth, as per Canalys. Samsung leads with 19% market share, followed by Xiaomi and Vivo. Xiaomi's resurgence is fueled by budget phones and Poco's X6 series. Other brands like Motorola, Infinix, and Apple also show strong growth. Despite this, mass-market brands face sluggish demand, prompting a shift towards value-driven strategies.
Rise in second-hand smartphone demand prompts brands to prevent unorganised market access
The demand for second-hand smartphones is on the rise, prompting brands and seller platforms to prevent old devices from reaching the unorganised market. Refurbished smartphone seller ReFit Global anticipates a 16% growth in the industry in 2024, following a 15% growth in 2023. E-commerce platforms and smartphone brands are collaborating with refurbishing companies to sell old devices directly, streamlining the process and preventing leakages.
Samsung flags 10-fold rise in first-quarter profit as chip prices recover
The world's largest memory chip and TV maker estimated its operating profit rose to a better-than-expected 6.6 trillion won ($4.89 billion) in the quarter ended March 31. That was up 931% from 640 billion won a year earlier, the South Korean firm said in a short preliminary earnings statement
Samsung flags 10-fold rise in first-quarter profit as chip prices recover
Samsung's robust Q1 profits, driven by chip prices rebounding, Galaxy S24 performance, and potential post-Taiwan earthquake price hikes, showcased a 10-fold rise in operating profit, beating estimates but missing revenue expectations.
Foxconn’s Bharat FIH looks beyond Xiaomi to offset slump
Bharat FIH diversifies beyond Xiaomi orders at Chennai campus to explore EVs, telecom equipment, and TVs. Leveraging Make in India initiative with PLI benefits, the company aims to support GOI's localization plans and expand capacity based on customer demand.
Indian Premium League: Premiumisation picks up pace for large consumer goods companies
More than 70% of the new products launched by India's largest consumer goods maker Hindustan Unilever in last two years were in the premium segment. Around 65% of all new personal care product launches were in the premium segment for ITC Ltd, doubling the contribution of such products to the division's sales in the last four years to 38%. For the largest biscuit maker Parle Products, around 60-65% of new launches were in the premium segment as compared to 40% pre-Covid.
Samsung India nears another milestone in smartphone business
The company accelerated sales spurred by premiumisation with average handset selling prices rising by 22%, higher than the industry average of 17%. The share of no-cost EMI purchases has also increased from 54% to 60% during the year, said Akshay Rao, mobile experience business general manager at Samsung India. Tenure for no-cost EMI schemes too rose to 18 months from 12 months earlier.
Apple's iPhone sales in China plunge 24% as Huawei's popularity surges
The U.S. tech giant's chief competitor in China in premium smartphones, Huawei, saw unit sales rise by 64% in the period, according to the report. This could fan fears of a slowdown in demand for the U.S. company, whose revenue forecast for the current quarter was $6 billion below Wall Street expectations.
Budget phones with AI features could be just months away
Chipmakers Qualcomm and MediaTek are already working on it. Both the companies are working on chipsets that can be fitted in budget phones and can provide generative AI capabilities in a hybrid model of on-device and cloud processing.
Smartphone ownership among 44+ drops in urban India, rises in villages
As per the findings of the Kantar-TGI (Target Group Index) study, available exclusively with ET, the gender gap in smartphone ownership has also narrowed over the past five years, even though males consistently exhibited higher ownership percentages. The sharp increase in smartphone adoption levels is pronounced among female users, suggesting a closing gap in technology access.
Smartphones may get costlier from next quarter
Smartphone prices may increase in the June quarter due to rising memory chip prices and the strengthening of the Chinese yuan. Recent import duty cuts may partially offset the increase. Samsung and Micron are expected to implement a 15-20% price increase for memory chips in the March quarter. The impact of the price hike will be felt in the next quarter as vendors currently have sufficient inventory.
Smartphone shipments rise up to 8% during festive season
The season also saw a shift in fortunes for general trade, which boosted its market share to 35-40% from about 32% the year before, while online channels remained flat. That said, analysts continue to predict a 1-2% on-year annual decline in shipments in 2023 despite the notable surge in sales during the festive season.
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