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<ul class="summary-list"><li><keyword id="19895433" type="General" weightage="100" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword>'s falling California sales point to bigger problems for the car company.</li><li>Changes to the EV market are finally catching up to Tesla.</li></ul>Tesla is losing some ground in its former home state of California, signaling more trouble ahead for the world's largest electric car company. As <keyword id="20360560" type="General" weightage="20" keywordseo="electric-car-sales" source="keywords">electric car sales</keyword> rose 2% in California, Tesla's sales in the state fell 3.5%, according to third-quarter <a target="_blank" class="" href="https://www.cncda.org/news/california-new-car-dealers-association-releases-q3-2024-auto-outlook-report/">figures</a> from the California New Car Dealers Association. That's not an anomaly. It's the third straight quarter of Tesla sales declines in the largest EV market in the US. The losses don't upset Tesla's market dominance: the Elon Musk-led company still accounted for more than half of all EV sales in California for the quarter. Through September 30, Tesla's EV market share in California declined from 64% to 55% year-over-year— still nearly five times that of Hyundai (5.6%) and BMW (5%) combined. The trend in California underscores Tesla's challenges as the <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">EV market matures</a> and new competition makes it harder for the company's aging lineup to entice new buyers. In addition to these economic challenges, <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-political-beliefs-public-stances-timeline-republican-desantis-2022-6">Musk's political views</a> have shifted further right, with the CEO endorsing and campaigning for Republican presidential candidate Donald Trump in the 2024 election. That can impact sales in a solidly blue state like California. Actor Jason Bateman recently said he isn't driving a Tesla anymore because of Musk's connection to Trump. "I got rid of my Tesla," Bateman told vice presidential candidate Tim Walz on an episode of his podcast <a target="_blank" href="https://www.smartless.com/episodes/episode/288fe449/governor-tim-walz">Smartless</a>, which he hosts with Sean Hayes and Will Arnett. "I feel like I'm driving around a Trump sticker with that car, so it's gone." <h2>The EV market is maturing</h2>EV demand in the US has been slowing for about a year. It took longer for that slowdown to hit <a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a> than other competitors, but it's clear now that Musk is feeling the pinch as its once-reliable buyer base of wealthy early adopters is replaced by a more practical and frugal green-car shopper. Previous tactics like slashing prices and offering dealership-like incentives to buy Teslas over other EVs aren't working as well as they used to. Following <a target="_blank" class="" href="https://www.businessinsider.com/tesla-production-deliveries-second-quarter-decline-2024-7">two quarters of slipping sales</a>, Tesla's share of the US electric car market dipped below 50% for the first time at the end of the second quarter, according to data from Cox Automotive. The automotive retail firm attributed much of <a target="_blank" class="" href="https://www.businessinsider.com/tesla-loses-market-share-but-elon-musk-still-wins-2024-7">Tesla's waning dominance</a> to an influx of new competition, which offered EV shoppers more choices. This increase in choices is especially threatening for Tesla, which does not regularly update the looks of its electric cars — a strategy industry experts have been warned for years could come back to bite the company. An increase in demand for hybrid-electric vehicles has also been "detrimental" to Tesla and overall EV adoption, <a target="_blank" class="" href="https://www.businessinsider.com/tesla-blames-hybrids-for-lower-sales-2024-4">according to Musk</a>. Many industry experts disagree, arguing that hybrids are a necessary bridge technology for EV adoption among later adopters. <h2>Elon's politics turn off some customers</h2>Musk is no stranger to controversy. The bombastic billionaire's rise over the past decade has been in part due to his willingness to thumb his nose at some social codes and government agencies. But as Musk becomes a more permanent fixture in the US's far-right movement, some owners and potential customers have been having <a target="_blank" class="" href="https://www.businessinsider.com/tesla-owners-consider-selling-cars-shares-cybertruck-elon-musk-post-2023-11">second thoughts about supporting Tesla</a>. As Tesla owners take to social media to express their displeasure with Musk's political involvement, automotive industry experts say there could be real consequences for the CEO's "Dark MAGA" era. <a target="_blank" class="" href="https://www.businessinsider.com/ev-demand-still-strong-despite-slowdown-hybrids-survey-2024-1">Today's electric car shopper</a>, who is often considering an EV for environmental reasons, is less willing to look past Musk's support for Trump and other conservative leaders, experts say. Musk, for his part, has denied that his involvement in politics is impacting sales. "Tesla's sales are actually doing great," he said during a recent X space. "We're hitting all-time highs." Correction — October 31, 2024: An earlier version of this post incorrectly said California was Tesla's home state. The company's headquarters is now in Texas.

Why Tesla's sales are slipping in California, and what it means for Elon Musk's car company

Amid the ongoing geopolitical tension, the <keyword id="19904988" type="General" weightage="20" keywordseo="energy-sector" source="keywords">energy sector</keyword> will continue to face challenge while the <keyword id="20468174" type="General" weightage="20" keywordseo="consumer-goods" source="keywords">consumer goods</keyword>, automotive, healthcare is set to expand in 2025, highlighted a report 'Industry Outlook 2025' by <keyword id="20618515" type="General" weightage="100" keywordseo="Economist-Intelligence-Unit" source="keywords" meta.keywordsubtype="org" meta.entityname="Economist Intelligence Unit" meta.hostid="261" meta.entityid="Economist Intelligence Unit">Economist Intelligence Unit</keyword>. The report noted that the Fossil fuel markets will continue to face risks from geopolitical conflicts, particularly in the Middle East and Ukraine. However, investments in <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> will remain strong, especially in China, as the world pushes toward cleaner and more sustainable energy sources. The report said "Fossil-fuel markets will continue to face <keyword id="20064250" type="General" weightage="20" keywordseo="geopolitical-risks" source="keywords">geopolitical risks</keyword> amid conflicts in the Middle East and Ukraine, but investment into renewables will remain strong, particularly in China." It also added that the financial sector faces a mixed outlook with falling interest rates anticipated to narrow bank profit margins, potentially leading to smaller dividend payouts for shareholders. Yet, regulatory easing could provide relief, with the Basel III endgame likely seeing further delays, softening the impact on banking institutions amid a challenging economic landscape. For the consumer goods and retailing the report added that the Global retail volumes are forecast to grow by 2.2 per cent in 2025, thanks to easing inflation. However, stricter regulations on online retailing will target high-volume, low-price retailers, to ensure fair competition and consumer protection. It said "Global retail volumes will expand by 2.2 per cent, helped by disinflation, but regulations around online retailing will tighten further" As per report, the <keyword id="20359760" type="General" weightage="20" keywordseo="automotive-sector" source="keywords">automotive sector</keyword> is set for a record year, it said "After a difficult few years, annual new-vehicle sales will reach a record 97.2m units in 2025. This includes a 2 per cent rise in new car sales, a 4 per cent increase in commercial vehicle sales, and a significant 16 per cent growth in <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword>, reflecting the sector's recovery and the shift toward cleaner mobility. In technology the report added more countries will adopt satellite internet, although the primary users will be enterprise clients, including military and maritime sectors. Amazon's Project Kuiper will challenge the existing market dominance of Starlink and EutelSat OneWeb, offering more competition and potential growth in satellite connectivity. The resulting tensions will continue to affect investment into production and market entry, with companies taking advantage of government incentives to build out more flexible supply chains. <keyword id="23684177" type="General" weightage="20" keywordseo="investment-in-technology" source="keywords">Investment in technology</keyword>, particularly artificial intelligence (AI), will also be strong as projects gather pace. However, technology companies will face pressure from several directions as regulations tighten (particularly in Europe), investors become more impatient for profits and their energy usage comes under more scrutiny.

Consumer goods, auto and healthcare sector to expand but energy may face challenge in 2025: Report

<ul><li>The <keyword id="21441808" type="General" weightage="100" keywordseo="Honor-200-Lite" source="Orion">Honor 200 Lite</keyword> smartphone has been launched in India.</li><li>The <keyword id="20014359" type="General" weightage="20" keywordseo="Honor" source="keywords" meta.keywordsubtype="org" meta.entityname="Honor" meta.hostid="261" meta.entityid="Honor">Honor</keyword> 200 Lite is priced at ₹17,999 and is available in a single variant.</li><li>Here’s everything you need to know about the latest smartphone from Honor.</li></ul>Honor today announced the launch of the company’s latest budget smartphone, the Honor 200 Lite in India. The device is the third offering in the Honor 200 series and is also the most affordable among the three. The company had earlier launched the Honor 200 and Honor 200 Pro smartphones in the country. The Honor 200 Lite is an affordable option, aimed at users looking for a smartphone in the highly competitive sub-₹20,000 segment. <div type="Article" hostid="261" msid="111830855" title="Honor 200 and Honor 200 Pro launched in India starting at ₹34,999" mstype="2" mssubtype="0"></div> <h2><keyword id="23231527" type="General" weightage="20" keywordseo="Honor-200-Lite-price" source="Orion">Honor 200 Lite price</keyword> in India</h2>The Honor 200 Lite is priced at ₹17,999 for the single 8GB RAM + 256GB internal storage variant. The device comes in Cyan Lake, Midnight Black and Starry Blue colour options. It will be available from September 26 from Amazon India, Honor Online Store and the company’s authorised retailers across the country. <h2>Honor 200 Lite specifications</h2>The Honor 200 Lite runs on Android 14 out of the box with the company’s MagicOS 8.0 on top. Honor has promised two years of Android updates and three years of security updates for the device. The Honor 200 Lite features a 6.7-inch Full HD+ AMOLED display with a 90Hz refresh rate. The Honor 200 Lite is equipped with the MediaTek Dimensity 6080 chipset, coupled with 8GB of RAM and 256GB of internal storage. Coming to the camera department, the Honor 200 Lite features a triple camera setup at the back consisting of a 108MP primary camera, a 5MP ultra-wide-angle camera and a 2MP macro sensor. On the front, the device sports a 50MP selfie camera. The Honor 200 Lite is powered by a 4,500mAh battery with 35W charging support. The device comes with a side-mounted fingerprint sensor. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-emerges-as-the-worlds-second-biggest-smartphone-brand-in-august/articleshow/113478178.cms">Xiaomi emerges as the world’s second-biggest smartphone brand in August</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-series-allows-users-to-wirelessly-restore-the-firmware-using-an-iphone-or-ipad/articleshow/113455048.cms">iPhone 16 series allows users to wirelessly restore the firmware using an iPhone or iPad</a> <a href="https://www.businessinsider.in/tech/apps/news/instagram-will-force-teenagers-to-have-a-private-account-enable-sleep-mode-after-10-pm/articleshow/113449313.cms">Instagram will force teenagers to have a private account, enable sleep mode after 10 PM</a>

Honor 200 Lite budget smartphone with 108MP primary camera launched in India

<ul class="summary-list"><li>BYD has just notched another big victory in its fight to overtake Elon Musk.</li><li>The Chinese EV maker's quarterly revenues outstripped Tesla's for the first time.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/byd-founder-wang-chuanfu-biggest-chinese-global-ev-automaker-2024-1">BYD</a> has just scored another victory in its battle to overtake <a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a>.The Chinese EV giant said in its third-quarter earnings on Wednesday it had surpassed Tesla's revenues from EV sales for the first time.BYD recorded revenues of 201.1 billion yuan ($28.2 billion) in the three months to September 30, up 24% from the same quarter last year. <a target="_blank" class="" href="https://www.businessinsider.com/tesla-stock-tsla-earnings-call-report-live-updates-2024-10">Tesla posted sales of $25.2 billion</a> over the same period.It's another marker for the industry juggernaut, which has ridden China's EV boom to become one of the country's largest automakers.BYD briefly <a target="_blank" class="" href="https://www.businessinsider.com/ken-griffin-on-chinas-byd-ev-outperforming-elon-musks-tesla-2024-1">overtook Tesla as the world's biggest EV producer</a> at the end of last year, and after a record quarter, is aiming to put <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a>'s company under further pressure.Here are five reasons BYD is booming:<h2 id="d2ed0127-4943-4c97-9993-210cd5715665">1. Affordable EVs</h2>BYD is known for its cheap electric vehicles, and has spent this year making them cheaper.The automaker launched a <a target="_blank" class="" href="https://www.businessinsider.com/byd-china-ev-price-war-yuan-plus-tesla-elon-musk-2024-3">wave of price cuts earlier this year</a>, which included lowering the price of the <a target="_blank" class="" href="https://www.businessinsider.com/byd-cheap-ev-seagull-coming-to-europe-china-us-tariffs-2024-5">ultra-cheap Seagull hatchback</a> to under $10,000.Those price cuts gave BYD an advantage over Tesla, whose cheapest vehicle in China is the 231,900 yuan ($32,600) Model 3, and appear to have spurred sales.BYD announced record monthly deliveries on Friday, with the company selling half a million passenger vehicles in October.<h2 id="e64c7ec7-70d2-498e-9c45-48cb9cbdfad2">2. Luxury vehicles</h2>As well as making their cheapest cars cheaper, BYD has expanded into luxury vehicles.<div type="image" title="Yangwang U9" height="2667" width="4000" msid="114857774" hostid="261" sizebytes="618384"></div>The automaker launched <a target="_blank" class="" href="https://www.businessinsider.com/luxury-european-carmakers-china-sales-competition-electric-vehicles-bmw-mercedes-2024-10">the Yangwang U8</a>, a $150,000 premium SUV that comes with an onboard drone last year.BYD also <a target="_blank" class="" href="https://www.businessinsider.com/byd-electric-supercar-u9-cost-ferrari-vibes-2024-2">unveiled its first supercar</a>, the 1.68 million yuan ($235,000) Yangwang U9, in February.The expansion of local automakers into China's premium market has put <a target="_blank" href="https://www.businessinsider.com/luxury-european-carmakers-china-sales-competition-electric-vehicles-bmw-mercedes-2024-10">pressure on European giants like Mercedes and BMW</a>. Experts told BI that this would enable firms like BYD to target less price-sensitive customers and grow beyond China's brutally competitive mass market.<h2 id="abc6d5cc-26e9-4f5e-97a0-116de874ee95">3. Global expansion</h2>BYD has embarked on an ambitious expansion drive this year to boost sales outside China. Executives have said they want half of BYD's sales to come from abroad in the future.Though US and European tariffs on Chinese EVs make selling in these regions problematic, BYD is <a target="_blank" href="https://www.businessinsider.com/byd-saic-chinese-ev-makers-plot-world-takeover-2024-6">rapidly setting up factories worldwide</a> to cut costs and avoid trade barriers. It's also focusing on emerging markets such as Mexico and Brazil.<h2 id="95ef07ab-209d-40a4-8311-9fa326be69ed">4. Hybrids</h2>A key part of BYD's success is its hybrid range. Unlike its rival, Tesla, BYD also offers a selection of hybrid vehicles, which are popular in China.Some 311,000 of the 500,000 passenger vehicles BYD sold in October were hybrids, with hybrid sales rising by 62% year-on-year.<div type="image" title="BYD Seal" height="4024" width="6048" msid="114857772" hostid="261" sizebytes="511534"></div>BYD has sold nearly two million hybrid vehicles this year. The automaker says its latest hybrids can go up to <a target="_blank" class="" href="https://www.businessinsider.com/byd-new-hybrid-cars-1250-miles-nonstop-gas-charging-2024-5">1,250 miles without stopping for gas or charging</a>.Dylan Khoo, an analyst at technology intelligence firm ABI Research, told BI the core of BYD's success this quarter stemmed from plug-in hybrid electric vehicle (PHEV) sales in China."Newly launched models based on BYD's fifth generation DM-i PHEV technology have been huge sales successes," he said.<h2 id="f1637504-ae75-4bb3-8d4a-af997966f543">5. Vertically integrated supply chains</h2>The core of BYD's success — and part of the reason it can produce EVs so cheaply — is that it tries to make almost every component in-house.BYD produces its own batteries and computer chips. BYD executive VP Stella Li recently told MotorTrend that BYD manufactures every component of its Dolphin electric hatchback, apart from the tires and windows.<div type="image" title="BYD executive vice president Stella Li" height="2668" width="4000" msid="114857770" hostid="261" sizebytes="387636"></div>"BYD's high degree of vertical integration — making rather than buying many key strategic components — means it can control production of batteries and chips and can do so at very low cost," said David Bailey, professor of business economics at the University of Birmingham.BYD did not respond to a request for comment from BI.

5 reasons BYD is surging ahead after eclipsing Tesla's quarterly sales for the first time

<ul><li>The Amazon Great Indian Festival 2023 is now live for all users.</li><li>The sale brings huge discounts across various products, including laptops.</li><li>Here are some of the best deals on home appliances on the Great Indian Festival on Amazon.</li></ul>The Amazon Great Indian Festival is now live for all users and will go on till November 10, unveiling a treasure trove of deals and discounts. If you are planning to buy a gadget or home decor items or upgrade your appliances, this sale is a one-stop shop for all your needs. And in today’s fast-paced world, where convenience meets necessity, having the right <keyword id="618514" type="General" weightage="20" keywordseo="kitchen-appliances" source="Orion">kitchen appliances</keyword> makes all the difference. With so many options in the market across categories, it could get daunting to narrow down your options. We understand the need to strike the balance between quality, functionality and affordability, and hence we have curated this list to make it easier for you. During this sale, brands have revealed new launches, dropped prices, offered no-cost EMI options and a lot more to help you shop without guilt. So, read on to explore some of the best deals on home appliances in the ongoing Amazon Great Indian Festival. Business Insider India’s team of experts have been working round the clock to filter out the best deals across categories. You can jump straight to the category-specific deals from the quick links in the table below – <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Best deals </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/ecommerce/news/best-deals-on-samsung-and-apple-mobile-phones-in-amazon-great-indian-festival-2023/articleshow/104288381.cms">Best deals on smartphones</a> </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-indian-festival-2023-best-deals-on-budget-smartphones/articleshow/104318454.cms">Best deals on budget smartphones</a> </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 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0.5008695000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/ecommerce/news/best-deals-on-amazon-devices-in-great-indian-festival-sale-2023/articleshow/104343854.cms">Best deals on Amazon devices</a> </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/gadgets/news/best-deal-and-discount-on-new-laptops-in-amazon-great-indian-festival-2023/articleshow/104347217.cms">Best deals on laptops</a> </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/gadgets/news/get-best-deals-on-smart-led-tvs-in-amazon-festival-sale-2023/articleshow/104372950.cms">Best deals on TVs</a> </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-indian-festival-2023-best-deals-on-bluetooth-speakers/articleshow/104375928.cms">Best deals on Bluetooth speakers</a> </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-indian-festival-2023-best-deals-on-computer-accessories/articleshow/104358723.cms">Best deals on computer accessories</a> </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/ecommerce/news/best-deals-on-kitchen-appliances-in-india-in-amazon-festival-sale-2023/articleshow/104402262.cms">Best deals on kitchen appliances</a> </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/ecommerce/news/best-deals-on-apple-iphone-watches-and-mac-in-amazon-sale/articleshow/104399007.cms">Best deals on Apple products</a> </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/news/best-deals-on-air-conditioners-in-india-in-amazon-great-festival-2023-sale/articleshow/104498267.cms">Best deals on air conditioners</a> </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/gadgets/news/best-deals-on-gaming-laptops-in-india-in-amazon-festival-sale-2023/articleshow/104529271.cms">Best deals on gaming laptops</a> </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/news/amazon-great-indian-festival-2023-best-deals-on-gaming-accessories/articleshow/104653769.cms">Best deals on gaming accessories</a> </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/tech/news/amazon-great-indian-festival-2023-best-deals-on-tablets/articleshow/104701147.cms">Best deals on tablets</a> </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Bank offer In addition to the discounts offered by Amazon, you can avail an additional 10% instant discount on ICICI Bank, Bank of Baroda, IDFC First Bank debit card, credit cards and EMI transactions and Onecard credit card transactions. Samsung 256 L Double Door Refrigerator <cmsannotation type="cmsannotation" annotationid="B0BR3X65X6" comment="amazoncard" text="B0BR3X65X6">B0BR3X65X6</cmsannotation> If you are in the market for a reliable refrigerator for a family of two or three, this refrigerator from Samsung is a great option. It comes with a 256L capacity and features convertible technology. It comes with digital inverter technology that offers a 20-year warranty. The refrigerator is currently available at ₹27,490, down from its original price of ₹38,990. Sure from Aquaguard Delight NXT Water Purifier <cmsannotation type="cmsannotation" annotationid="B09TB2YC13" comment="amazoncard" text="B09TB2YC13">B09TB2YC13</cmsannotation> This water purifier from Sure from Aquaguard is a good option that offers RO and UV filtration and comes with a taste adjuster. It is suitable for all types of water, including tanker, borewell, municipal water. The purifier offers a 6 litres capacity and offers 7 stages of purification. It wastes 60% less water compared to traditional water purifiers. It is currently available for ₹7,199, down from its original price of ₹14,000. AGARO Regal Handheld Vacuum Cleaner <cmsannotation type="cmsannotation" annotationid="B07SRM58TP" comment="amazoncard" text="B07SRM58TP">B07SRM58TP</cmsannotation> The AGARO Regal Handheld Vacuum Cleaner is a good option if you are looking for a portable vacuum cleaner, which is compact and easy to use. The vacuum cleaner is equipped with an 800 watts motor and comes with an ABS plastic body. It offers a 0.8 litre dust collecting capacity and comes with a 5-metre-long cord to enable you to clean easily. It is currently available for ₹1,599, down from its original price of ₹2,099. Bosch Mixer Grinder MGM8842MIN, 1000W 4 Jars <cmsannotation type="cmsannotation" annotationid="B07MKMFKPG" comment="amazoncard" text="B07MKMFKPG">B07MKMFKPG</cmsannotation> This mixer-grinder comes with a uniquely designed blunt PoundingBlade with thick edges that replicates the pounding effect of a traditional mortar and pestle, giving your food an authentic texture and taste. The completely hands-free operation with unique lid-locks and strong suction feet makes it easy to use, and the stainless steel blades are durable and efficient for grinding wet, dry, and chutney ingredients. The 30-minute motor rating with 5 minutes on and 2 minutes off ensures that the mixer grinder can handle even the toughest tasks, and the high-grade stainless steel jars are easy to clean and maintain. It is currently available at ₹5,999; down from its original price of ₹10,590. PHILIPS Digital Air Fryer with Touch Panel <cmsannotation type="cmsannotation" annotationid="B097RJ867P" comment="amazoncard" text="B097RJ867P">B097RJ867P</cmsannotation> The Philips Airfryer HD9252/90 is a versatile air fryer that can cook a variety of foods, including fries, aloo tikkis, roast chicken, grilled vegetables, chocolate cakes, and muffins. It uses Rapid Air technology to cook food evenly without flipping, and it has a touch screen with 7 presets and a Keep Warm function. The air fryer is also dishwasher-safe and easy to clean. This is currently available at ₹7,999, down from its original price of ₹11,995. ECOVACS Robot Vacuum Cleaner <cmsannotation type="cmsannotation" annotationid="B0CB5WQ9MM" comment="amazoncard" text="B0CB5WQ9MM">B0CB5WQ9MM</cmsannotation> The ECOVACS robot vacuum and mop is a powerful and versatile cleaning machine that can vacuum and mop your floors in one go. It has a 4300Pa suction power, a floating main brush, and a rubber brush (optional) to clean all types of messes. The OZMO mopping system mops your floors without getting carpets wet. The robot vacuum also has cutting-edge mapping and path planning technology, so you can be sure that it will clean your home efficiently and effectively. It also has an antibacterial filter and dust bag to remove allergens and pollutants from your home. The upgraded maximum runtime and smart-charge continuous cleaning features ensure that the robot vacuum can clean your entire home without having to stop and recharge. The strong mobility performance allows it to climb over carpets and thresholds easily. You can buy this product currently at ₹26,900, down from its original price of ₹1,09,900. AquaguardSure 6L water purifier, from Eureka Forbes <cmsannotation type="cmsannotation" annotationid="B09YLWT89W" comment="amazoncard" text="B09YLWT89W">B09YLWT89W</cmsannotation> This water purifier employs RO+UV+UF technologies. The RO component is certified for removing contaminants like lead, mercury, and arsenic, along with viruses and bacteria. UV e-boiling ensures safe water, and UF enhances clarity while adding an extra layer of protection. This purifier is suitable for various water sources and TDS levels up to 2000 PPM. This purifier comes with a storage of 6 litres, ensuring adequate supply of water. And you get a 1-year comprehensive domestic warranty on all parts excluding consumables. It is currently available for ₹8,199, down from its original price of ₹18,000. Crompton Arno Neo 25-L 5 Star Rated Storage Water Heater <cmsannotation type="cmsannotation" annotationid="B08GSQNR61" comment="amazoncard" text="B08GSQNR61">B08GSQNR61</cmsannotation> The Crompton 25L 5 Star Energy Efficient Storage Water Heater is a versatile and reliable appliance that can meet the hot water needs of a small to medium-sized household. It is equipped with a powerful 2000 W motor that can heat water quickly and efficiently, even in hard water conditions. The water heater also features a 3-level safety system that includes a capillary thermostat, automatic thermal cut-out, and multi-functional valve to protect against overheating and other hazards. Additionally, the water heater is fitted with a specially designed magnesium anode that prevents corrosion and scale formation. It is currently available at ₹6,999, discounted down from its original price of ₹10,000. Disclaimer - When you purchase through links on Business Insider India, we may earn affiliate commission.

Amazon Great Indian Festival 2023 – Best deals on kitchen appliances

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Friday! As someone who often sports Crocs, I shouldn't be offering fashion advice. But I don't get the hype around <a target="_blank" href="https://www.businessinsider.com/controversial-mesh-flats-popular-summer-shoe-2024-7">these fishnet flats</a> being the shoe of the summer.In today's big story, Tesla insiders detail how it needs to <a target="_blank" href="https://www.businessinsider.com/tesla-car-sales-slump-salespeople-commission-2024-7">rethink its sales strategy</a> amid a shift in the EV market.What's on deck:<ul><li>Markets: Chip stocks look juicy these days, <a target="_blank" href="https://www.businessinsider.com/watch-out-for-semiconductor-super-cycle-before-buying-nvidia-stock-2024-7">but it won't be that way forever</a>.</li><li>Tech: Apple just got <a target="_blank" rel="noopener" href="https://www.businessinsider.com/apple-bought-itself-some-time-after-quarterly-results-2024-8">more time to prove itself</a> after its hefty AI investments.</li><li>Business: The newest sports streamer's coverage <a target="_blank" href="https://www.businessinsider.com/venu-sports-streamer-cost-43-nfl-youtube-tv-2024-8">leaves much to be desired</a>.</li></ul>But first, what can I do to get you in this car today?If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="0642bd0e-e971-4663-bff4-7c413bf24f3d">The big story</h3><h2 id="8e8b25cf-af5c-4ba5-823b-ade7efe8b096">For sale</h2><div type="image" title="Photo illustration of a Tesla Car." height="1334" width="2000" msid="112227144" hostid="261" sizebytes="238774"></div>One of Tesla's biggest assets is its willingness to try new things, but its unique approach to sales is also what's giving it headaches.It's been a <a target="_blank" href="https://www.businessinsider.com/tesla-stock-tsla-earnings-call-report-live-updates-2024-7">tumultuous year for the EV maker</a> and its <a target="_blank" href="https://www.businessinsider.com/elon-musk-legal-list-tesla-x-spacex-court-cases-investigations">CEO Elon Musk</a>. Tesla's delivery numbers dropped for two consecutive quarters, and its market share dipped below 50% for the first time in company history.A key issue is Tesla's inability to evolve its sales tactics as <a target="_blank" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">the EV market rapidly changes</a>. Business Insider's Grace Kay spoke to more than a dozen current and former employees in Tesla's sales division about how the company <a target="_blank" href="https://www.businessinsider.com/tesla-car-sales-slump-salespeople-commission-2024-7">has tried to kick-start its sales unit</a>.Not unlike its cars, Tesla's sales approach is innovative compared to the rest of the automotive industry. It doesn't rely on third-party dealerships and keeps most of its inventory off-site. There's also no haggling on price, and online sales make up a good chunk of the business.It's a great strategy when the cars sell themselves — which Teslas did for a while — since you don't need to maintain a traditional sales structure. But Tesla's approach has fallen flat <a target="_blank" href="https://www.businessinsider.com/tesla-cant-impress-new-ev-buyers-thats-a-problem-2024-7">among mainstream car buyers</a>, leaving it scrambling for a fix.<div type="image" title="Tesla superchargers" height="1281" width="2000" msid="112227147" hostid="261" sizebytes="361628"></div>Tesla's sales conundrum represents a common mistake tech companies make: pushing for innovation in unwanted places.The tech industry loves to find inefficiencies in businesses to streamline them, and we love them for that. After all, the result can often be great for customers.We have on-demand music, movies, and television at our fingertips. You can place a food delivery order in seconds from your couch, and the love of your life might be a few swipes away. What a time to be alive.But for certain things, people don't mind a more old-school approach.Fintechs <a target="_blank" href="https://www.businessinsider.com/robinhood-add-more-customer-support-after-congress-grilled-ceo-2021-2">learned this the hard way</a> when they offered chatbots instead of humans. As much as younger people might hate talking on the phone, they don't mind it when their money is on the line.Shopping is another example. Retailers would love to have you make quick, impulsive purchases from your phone. But when it comes to big-ticket items, customers often pivot to their laptops, much to the chagrin of retailers, for what they call "<a target="_blank" href="https://www.wsj.com/tech/personal-tech/retailers-hate-that-you-buy-big-things-on-your-laptop-57cf403c">big-screen purchase</a>."This gets us back to Tesla. Sure, if your customer base is full of Musk acolytes, you can rely on low-pressure salespeople. But once that well runs dry, you're going to need someone to pitch apprehensive shoppers.<h2 id="e7ad5a04-e409-4b8e-a5a6-9c0198f1ef94">3 things in markets</h2><div type="image" title="Semiconductors in a circle" height="1500" width="2000" msid="112227146" hostid="261" sizebytes="159064"></div><ol><li>Thinking about buying chip stocks like Nvidia? Timing is everything. The world's most valuable company — and its peers — won't be on the up-and-up forever. Investors need to <a target="_blank" href="https://www.businessinsider.com/watch-out-for-semiconductor-super-cycle-before-buying-nvidia-stock-2024-7">account for this key factor</a> so they aren't left hanging with ill-timed purchases.</li><li>The three most important letters on Wall Street: CTO. Chief technology officers are finding themselves in the spotlight as finance firms try to leverage AI to drive productivity and save costs. Tech leaders at Citadel, Goldman Sachs, and AllianceBernstein <a target="_blank" href="https://www.businessinsider.com/cto-cio-top-jobs-wall-street-goldman-sachs-citadel-2024-8">discuss how the job has changed</a>.</li><li>This economist sees multiple rate cuts in our future. Economic data shows we're on shaky ground and the Fed needs to act fast, according to ING Economics' James Knightley. Rising jobless claims and a drop in the manufacturing index point to the Fed <a target="_blank" href="https://www.businessinsider.com/us-economy-slowdown-signal-flashed-interest-rate-cuts-accelerate-fed-2024-8">cutting interest rates more than expected this year</a>.</li></ol><h2 id="62bb4334-a805-49b4-89b9-d7825f87b766">3 things in tech</h2><div type="image" title="Amazon CEO Andy Jassy" height="1000" width="2000" msid="112227143" hostid="261" sizebytes="135614"></div><ol><li>Amazon disappoints investors. The e-commerce giant <a target="_blank" href="https://www.businessinsider.com/amazon-stock-amzn-quarterly-earnings-call-report-live-updates-2024-7">reported Q2 earnings</a> below expectations. Investors reacted swiftly: Amazon's stock sank as much as 7% in after-hours trading. Amazon Web Services is a bright spot for the company, though it took customers and employees by surprise by <a target="_blank" href="https://www.businessinsider.com/aws-deprioritized-cloud-services-surprising-customers-salespeople-2024-8">quietly deprioritizing seven cloud services</a>.</li><li>Apple just bought itself some time. Despite reporting a decline in iPhone revenue for its third quarter, <a target="_blank" href="https://www.businessinsider.com/apple-aapl-stock-quarterly-earnings-call-report-live-updates-2024-7">Apple's overall profits</a> still beat Wall Street's expectations. That gives it a little more time before <a target="_blank" href="https://www.businessinsider.com/apple-bought-itself-some-time-after-quarterly-results-2024-8">it has to prove its big AI investments were worth it</a>.</li><li>Meet the 21-year-old behind the AI necklace the internet hates. Avi Schiffmann, founder of the AI friendship necklace Friend, launched a "Black Mirror"-style commercial and spent $1.8 million on a website domain. He smokes a lot of cigarettes, is guided by "personal vibes," and <a target="_blank" href="https://www.businessinsider.com/gen-zer-behind-friend-creepy-new-ai-necklace-interview-2024-8">thinks the haters are just "yappin'</a>."</li></ol><h2 id="3c244a91-acbf-4e23-8cde-90d1f2a8f4a7">3 things in business</h2><div type="image" title="Mark Cuban photo illustration." height="3000" width="4000" msid="112227151" hostid="261" sizebytes="333010"></div><ol><li>Mark Cuban's mission to upend Big Pharma. The billionaire "Shark Tank" investor runs a low-cost online pharmacy that offers more than 2,000 mostly generic drugs. Now the company is <a target="_blank" href="https://www.businessinsider.com/mark-cuban-cost-plus-strategy-disrupt-drug-pricing-big-pharma-2024-7">expanding into imports</a> and competing directly with big names like Pfizer and Novo Nordisk.</li><li>A world of sports streaming, sans football. Venu is a new sports streaming bundle that costs $43 a month — but it doesn't include most coverage of the biggest sport on television. With a massive hole from missing NFL coverage, <a target="_blank" href="https://www.businessinsider.com/venu-sports-streamer-cost-43-nfl-youtube-tv-2024-8">is there still an audience for this type of thing</a>?</li><li>Some TikTok career coaches give really bad advice. Shocker! Here are some of the <a target="_blank" href="https://www.businessinsider.com/the-worst-career-advice-on-tiktok-2024-8">worst tips and hacks</a> creators have shared, which you should ignore. (The white font trick for the bottom of your résumé will almost certainly backfire.)</li></ol><h2 id="b691d3d2-a3d7-4ee3-8890-aa84cf68a80c">In other news</h2><ul><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/russia-frees-political-prisoners-including-massive-exchange-2024-7">Russia frees WSJ reporter Evan Gershkovich, former US Marine Paul Whelan in a major prisoner swap</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/reddit-acquires-artificial-intelligence-adtech-startup-memorable-ai-2024-7">Reddit has acquired an AI startup to beef up its ad business in a deal worth around $40 million</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/federal-judge-overturns-jury-verdict-nfl-billions-damages-likely-appeal-2024-8">The NFL just got a $4.7 billion win — for now</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/immigration-customs-enforcement-ice-agents-deadly-force-shootings-2024-8">Immigration and Customs Enforcement has kept its use of deadly force secret. Until now</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/nvidia-doj-investigation-runai-big-tech-crackdown-antitrust-acquisition-competition-2024-8">Even Nvidia can't escape the government's crackdown on Big Tech</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/apple-ipad-quarterly-earnings-revenue-2024-8">Apple's iPad is having a moment</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/top-tiktok-talent-managers-agents-social-media-creators-influencers-2024-8">20 TikTok talent managers and agents helping creators navigate a changing social-media world</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/instagram-new-ai-chatbots-are-getting-weird-and-erotic-2024-8">Meta's new AI chatbots are already getting weird — and horny</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/don-lemon-sues-elon-musk-over-x-deal-2024-8">Don Lemon sues Elon Musk over axed X partnership</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/silicon-valley-billionaires-investors-kamala-harris-mark-cuban-reid-hoffman-2024-8">Meet the Silicon Valley billionaires, founders, and investors backing Kamala Harris</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/we-asked-ai-chatbots-about-trump-shooting-chatgpt-meta-claude-2024-7">Meta's AI apparently said the shooting at the Trump rally didn't happen. Here's what ChatGPT and Claude said</a>.</li></ul><h2 id="265f2581-0e55-4ab6-8ce7-1a67b2d79f37">What's happening today</h2><ul><li>US Department of Labor releases an employment report, including data on the unemployment rate.</li><li>Chevron, ExxonMobil, and <a target="_blank" href="https://markets.businessinsider.com/earnings-calendar">other companies</a> report earnings.</li><li>It's International Beer Day. Grab a pint!</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Annie Smith, associate producer, in London. Amanda Yen, fellow, in New York.

Tesla's unique approach to sales is giving it headaches

As we gear up for the much-anticipated 10th edition of The <keyword id="3092441" type="General" weightage="20" keywordseo="big-billion-days" source="Orion">Big Billion Days</keyword> on <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword>, there's a story that deserves to be shared – the remarkable success story of a young entrepreneur whose life has been transformed by this homegrown e-commerce platform. Mohammed Imran, a 26-year-old, was only 16 when he embarked on his entrepreneurial journey. His venture, Limraz Furniture, gained prominence during the pandemic, achieving a staggering 700 orders on its very first day when he held just 10 pieces in his inventory. Today, he stands as the proud owner of five thriving companies, a testament to the incredible scale made possible by Flipkart. From a family built around the earnings from an autorickshaw to buying a ultra-luxury sedan in the first year of his business, Mohammed’s journey symbolises relentless determination. <cmsannotation type="cmsannotation" annotationid="Meeting the demand for remote work" comment="subhead" text="Meeting the demand for remote work">Meeting the demand for remote work</cmsannotation> Mohammed's journey with Limraz Furniture began with a simple realisation – the rise of remote work demanded a comfortable workspace for home use. He says, “During COVID-19, most IT companies adopted a work-from-home model, and I recognised the need for budget-friendly home office furniture.” So, during the pandemic, he introduced office tables priced at affordable prices 9 on Flipkart; this ensured that people received value for money whilst also being able to work comfortably from their homes. <cmsannotation type="cmsannotation" annotationid="A journey born of necessity" comment="subhead" text="A journey born of necessity">A journey born of necessity</cmsannotation> With his younger brother and sister both helping him in running Limraz Furniture, he reflects on the past. After his father passed away in 2016, being able to afford one meal a day required his mother to sell her gold jewellery. This is when he decided that instead of taking up a job, he would start his own business. He says, “My mantra has always been to be one’s boss, and that’s what I did!” Now, he wants to leave no stone unturned in giving his family everything they deserve and more. <cmsannotation type="cmsannotation" annotationid="Choosing Flipkart: A lifeline during tough times" comment="subhead" text="Choosing Flipkart: A lifeline during tough times">Choosing Flipkart: A lifeline during tough times</cmsannotation> While Mohammed was looking out for opportunities to start his business online, Flipkart stood out as his ultimate choice. The seamless payment cycle offered much-needed stability during the uncertainty of the pandemic, especially considering his humble background. Supportive managers guided him through challenges, helping him understand consumer insights and improve his business. He shares, "Their guidance on cataloguing and optimizing product images significantly contributed to attracting customers and fostering positive reviews. Today, my entire range of furniture products is available on Flipkart." <cmsannotation type="cmsannotation" annotationid="A turning point" comment="subhead" text="A turning point">A turning point</cmsannotation> Mohammad's first experience with Flipkart's The Big Billion Days left an indelible mark on him. He reminisces, "In 2019, during my first Big Billion Days, I received an overwhelming response. Orders flooded in, starting with 1,200 on the first day culminating into a staggering 5,000 orders!" This was the first time he had witnessed such a substantial influx of capital. At the age of 23, he fulfilled a lifelong dream by purchasing a luxury car, symbolizing his remarkable journey and giving him a trailer for what more was to come. <cmsannotation type="cmsannotation" annotationid="From 10 pieces to building a thriving enterprise" comment="subhead" text="From 10 pieces to building a thriving enterprise">From 10 pieces to building a thriving enterprise</cmsannotation> From its humble beginnings, when it did not have enough staff or inventory to cater to the unexpected 700 orders on the first day of The Big Billion Days in 2019, Limraz Furniture has come a long way to evolve into a thriving enterprise. His company now boasts a staff of over 120 employees, and consistently achieves a minimum of 250 daily sales, with peaks reaching up to 400! <cmsannotation type="cmsannotation" annotationid="Dreaming big" comment="subhead" text="Dreaming big">Dreaming big</cmsannotation> As the 10th edition of The Big Billion Days approaches, Mohammed is leaving no stone unturned to ensure his success continues to soar. He has expanded his workforce, secured temporary warehouses to meet the heightened demand, and enlisted the support of investors to fuel his dreams of growth. With ambitious goals in mind, he anticipates crossing the two-crore mark in revenue this year, with sales of 15,000 to 18,000 units. While he expects profits to triple compared to the previous year, his family has also set their expectations. This year, they have expressed their desire for Mohammed to buy an even more expensive car, the booking for which he has already done. This reflects strongly on the faith he has in Flipkart’s power to help people achieve their dreams – no matter how big they seem. Looking ahead, Mohammad envisions further diversification by adding more products to Flipkart's marketplace. <cmsannotation type="cmsannotation" annotationid="A tale of triumph and resilience" comment="subhead" text="A tale of triumph and resilience">A tale of triumph and resilience</cmsannotation> Dealing in various categories of products while being a successful seller on Flipkart, while handling multiple other businesses is a testament to the fact that dreams can indeed come true. And in the world of business, it's often the most challenging journeys that yield the most inspiring stories. Mohammed's story is not just about business; it's about a young man who defied the odds and transformed his life through hard work. As we eagerly await The Big Billion Days, let us not only celebrate festivities but also the remarkable stories of entrepreneurs like Mohammed Imran, whose lives have been forever changed by Flipkart. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

Countdown to Flipkart's 10th Big Billion Days: A tribute to entrepreneurs, featuring Mohammed Imran and Limraz Furniture

<ul><li>Bhavish Aggarwal-led <keyword id="4393078" type="General" weightage="20" keywordseo="Ola-Electric" source="Orion">Ola Electric</keyword> has received approval from SEBI for its <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>.</li><li>The EV maker has received approval for an IPO to raise ₹5,500 crore.</li><li>The company filed the <keyword id="19914966" type="General" weightage="20" keywordseo="DRHP" source="keywords">DRHP</keyword> with SEBI in December 2023.</li></ul> Indian electric two-wheeler maker Ola Electric has received approval from the Securities Exchange Board of India (SEBI) for its <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (IPO). The Bengaluru-based EV maker <a href="https://www.businessinsider.in/stock-market/news/ola-electric-aims-to-raise-nearly-rs-5800-cr-via-ipo-to-file-drhp/articleshow/105907892.cms">filed</a> the Draft Red Herring Prospectus (DRHP) in December 2023. The Bhavish Aggarwal-led company is looking to raise ₹5,500 crore through a fresh issue of shares. Additionally, the IPO also includes an offer for sale (OFS) component of 9.52 crore shares. The company has also kept an option to raise ₹1,100 crore via pre-IPO placement. As part of OFS, Aggarwal will offload 4.7 crore equity shares, which is around half of the OFS component. Apart from this, companies such as Indus Trust, Kaha Wave Ventures, MacRitchie Investments, Alpine Opportunity Fund, Matrix Partners India Investments, and others will divest some shares. According to the draft papers, out of the funds raised, ₹1,226.4 crore will be used for capital expenditure and ₹800 crore will be used to repay debt. The company will spend around ₹1,6000 crore on research and development and ₹350 crore on growth initiatives. Ola Electric has emerged as the leading electric two-wheeler maker in the country and has been leading the market for a long time now. The company occupies around half of the market share. The company is in the process of building an EV hub in the Krishnagiri and Dharmapuri districts in Tamil Nadu. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-nearly-3-5-million-subscribers-in-april-2024/articleshow/111129665.cms">Reliance Jio and Airtel add nearly 3.5 million subscribers in April 2024</a> <a href="https://www.businessinsider.in/business/webstories/nvidia-dethrones-microsoft-to-become-the-worlds-most-valuable-company/slidelist/111102218.cms">As Nvidia dethrones Microsoft, check out the world's top 10 most valuable companies</a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms">Hyundai Motor India files draft papers with SEBI for India’s biggest IPO</a>

Ola Electric gets SEBI approval for ₹5,500 crore IPO

Allied Blenders and Distillers Ltd, the maker of Officer's Choice whisky, on Thursday fixed a <keyword id="19911460" type="General" weightage="20" keywordseo="price-band" source="keywords">price band</keyword> of Rs 267 to Rs 281 per share for its Rs 1,500-crore <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (IPO). The initial share-sale will open for public during June 25-27 and the bidding for anchor investors will open for a day on June 24, the company announced. Broking firms have pegged the company's <keyword id="20000950" type="General" weightage="20" keywordseo="market-capitalisation" source="keywords">market capitalisation</keyword> to Rs 7,860 crore post-issue. The initial share-sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters. As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares. Proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt. Besides, a portion will be used for general corporate purposes. The total debt on the the company's books was around Rs 808 crore as of December 2023. Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors. Further, investors can bid for 53 shares and in multiples thereof. With a market share of over 8 per cent in <keyword id="20830317" type="General" weightage="20" keywordseo="Indian-Made-Foreign-Liquor" source="keywords">Indian-Made Foreign Liquor</keyword> (IMFL) market by sales volumes in fiscal 2023, Allied Blenders and Distillers is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad. The product portfolio of the firm comprises several brands of IMFL across whisky, brandy, rum and vodka. Some of the major brands of the company include Officer's Choice whisky, Sterling Reserve whisky, Jolly Roger rum and Class 21 vodka. ICICI Securities Ltd, Nuvama Wealth Management Ltd, and ITI Capital Ltd are the book running lead managers to the issue. The equity shares of the company are proposed to be listed on the BSE and NSE. SEE ALSO:<a href="https://www.businessinsider.in/business/webstories/nvidia-dethrones-microsoft-to-become-the-worlds-most-valuable-company/slidelist/111102218.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/webstories/nvidia-dethrones-microsoft-to-become-the-worlds-most-valuable-company/slidelist/111102218.cms" target="_blank">As Nvidia dethrones Microsoft, check out the world's top 10 most valuable companies</a><a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank">Hyundai Motor India files draft papers with SEBI for India’s biggest IPO</a><a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank">Tata Group reportedly looking to acquire a majority stake in Vivo India</a>

Whisky maker Allied Blenders IPO to open on June 25 as it looks to raise ₹1,500 crore

<ul class="summary-list"><li>Starbucks' comparable sales in China are slumping, with a 14% drop in the most recent quarter.</li><li>Its then-CEO put it down to weak consumer spending and a coffee store "price war" in a July investor call.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/starbucks-traffic-sales-comparable-us-china-visitors-transactions-brian-niccol-2024-8">Starbucks</a> has been struggling in China.Comparable store sales, a key measure for the restaurant industry, were down 14% in its most recent quarter.China, the world's second-biggest country by population, is a crucial market for Starbucks. The coffee giant has <a target="_blank" rel=" nofollow" class="" href="https://s203.q4cdn.com/326826266/files/doc_financials/2024/q3/3Q24-Earnings-Release-Final-7-30-24.pdf">more than 7,300 stores</a> there, nearly 20% of its total footprint — making China its second-biggest market after only the US. It's targeting <a target="_blank" class="" href="https://stories.starbucks.com/asia/stories/2023/starbucks-enhances-innovation-to-support-growth-in-china/">9,000 stores</a> by 2025.Starbucks opened its first store in mainland China in Beijing <a target="_blank" class="" href="https://www.starbucks.com.cn/en/about/history/">in 1999</a>.<a target="_blank" class="" href="https://www.businessinsider.com/starbucks-reserve-roastery-shanghai-china-is-worlds-biggest-2018-4">Shanghai</a> was also chosen as the location of the <a target="_blank" class="" href="https://www.starbucksreserve.com/stories/hello-shanghai">second Starbucks Reserve Roastery</a>, after Seattle.In mid-August, Starbucks named <a target="_blank" class="" href="https://www.businessinsider.com/starbucks-ceo-steps-down-replaced-by-chipotle-chief-2024-8">Chipotle CEO Brian Niccol</a> as its new boss in an abrupt management shake-up. One of his key priorities could be turning around its Chinese business.<h2 id="5529d4ab-9d0b-4d20-9223-34655e83b33d">Sales slump</h2>Starbucks' comparable store sales in China have been incredibly volatile over the past five years.Comparable sales are determined by two components: The number of orders placed and the average order size.In previous years, sales were massively affected by <a target="_blank" rel="" class="" href="https://www.businessinsider.com/china-protests-covid-lockdown-explainer-stakes-2022-11">China's strict zero-COVID policy</a>. But in recent months, they've been hit by cautious consumer spending and increased competition, then-CEO Laxman Narasimhan told investors in July."Unprecedented store expansion and a mass segment price war at the expense of comp and profitability have also caused significant disruptions to the operating environment," he said.Comparable store sales have been negative for the last two quarters. In the most recent quarter, to June 30, both the comparable transaction count and average ticket size were down 7% year-over-year. The average ticket size has been steadily declining over the past two years.In particular, fewer occasional customers have been visiting in the afternoons and evenings, Narasimhan told investors in April.<h2 id="060c4243-77d8-4369-88a7-38a9fadab9f0">Increased competition</h2>The rapid growth of the coffee-shop sector in China means there's simply "too much competition," Sherri He, who leads the China unit of consulting firm Kearney, told Business Insider.She said it was Starbucks' "number one challenge" in China.Narasimhan told investors in April that there was "fierce competition among value players" in China.<a target="_blank" class="" href="https://www.businessinsider.com/luckin-coffee-chinese-chain-making-starbucks-nervous-singapore-2023-11">Luckin Coffee</a>, Starbucks' biggest rival in China, has nearly three times as many stores as Starbucks in the country after monumental unit growth. Luckin was only founded in 2017 but it has <a target="_blank" class="" href="https://investor.lkcoffee.com/news-releases/news-release-details/luckin-coffee-opens-its-landmark-20000th-store-beijing">more than 20,000 coffee shops</a>, the vast majority of which are in China.Luckin has a much broader presence across China than Starbucks, including in smaller cities, the analysts said. Nearly a quarter of Starbucks' Chinese stores are in Beijing and Shanghai, and the vast majority of its other stores are in tier one, new tier one, and tier two cities, according to a Bank of America report from April.Other major competitors in China include Cotti Coffee, McDonald's McCafe, and KFC's KCoffee.<h2 id="7f36829d-72cf-4485-bc9e-7582b527c3ed">Not all Chinese consumers want the Starbucks experience</h2>Coffee is "still a growing habit" in China, Dave Xie, a partner at Oliver Wyman focusing on consumer goods and retail, said. "Lots of consumers just drink tea."And when they do go to a coffee shop, they generally care much more about the product than the experience, Xie said."Starbucks is a consumer-centric company, but for Luckin it's really product-centric," Xie said. Luckin has a "very rapid product innovation cycle" with much more frequent launches than Starbucks, he said.The Chinese coffee chains are much more "agile" at adapting to trends and cater more closely to the flavors favored by Chinese consumers, He, the Kearney partner, said. This includes Luckin's focus on sweet and milky beverages, with a brown sugar boba latte and a hugely popular coconut latte that accounts for 70% of sales at some stores, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-06-06/china-s-luckin-coffee-lkncy-is-back-and-beating-starbucks-sbux">Bloomberg</a> reported.Xie said that Starbucks' <a target="_blank" class="" href="https://www.businessinsider.com/starbucks-embracing-drive-thrus-and-mobile-over-traditional-mode-2022-8">"third place" model</a> — the idea that it's an alternative space to work and home for people to spend time — had worked in 2017 and 2018, when people were more willing to pay for premium products, but that this was no longer the case. Luckin, in comparison, has smaller-format stores with less seating and a focus on automation and standardization, he said.<div type="image" title="Customers line up at a Luckin coffee shop in Yanbian, Jilin province, China, July 16, 2024. On July 19, 2024," height="3024" width="4031" msid="112739533" hostid="261" sizebytes="406810"></div>Starbucks executives have repeatedly told investors that its premium positioning in China is a crucial part of its strategy. But because of this, Starbucks is limiting its potential customer base.Starbucks is "not targeting the mass but the middle class," in particular white-collar professionals, He said.Starbucks typically charges between 30 and 40 yuan ($4.20 to $5.60) for a 16-ounce drink, including Americanos, flat whites, flavored lattes, teas, and Frappuccinos, according to its <a target="_blank" class="" href="https://www.starbucks.com.cn/en/menu/">website</a>. In contrast, Luckin often has promotions that discount it down to 10 yuan a cup ($1.40), He said."We're not interested in entering the price war," Starbucks China CEO Belinda Wong <a target="_blank" class="" href="https://s203.q4cdn.com/326826266/files/doc_events/2024/01/1/SBUX-Q1-2024-Earnings-Call.pdf">told investors</a> in January. "It is our aim to be the best and lead in the premium market."But <a target="_blank" class="" href="https://www.reuters.com/business/retail-consumer/china-starbucks-tries-avoid-price-war-gets-dragged-into-discounting-2024-05-27/">Reuters</a> reported in May that Starbucks had significantly increased its use of discounting in China to compete with local rivals. Wong <a target="_blank" class="" href="https://s203.q4cdn.com/326826266/files/doc_events/2024/01/1/SBUX-Q1-2024-Earnings-Call.pdf">acknowledged</a> in January that Starbucks' use of promotional offers in China had led to lower average check sizes.<h2 id="b005dbb0-5953-4baa-b378-4adbe7fe5594">Economic growth is slowing, and consumer spending is growing more cautious</h2><a target="_blank" rel="" class="" href="https://www.businessinsider.com/china-economy-second-quarter-gdp-growth-weak-demand-consumption-exports-2024-7">China's economic growth</a> has slowed. It grew just 4.7% year-over-year in the second quarter of 2024, missing forecasts."China's obviously a tough market, and it's not just Starbucks," Brian Yarbrough, a restaurant analyst at Edward Jones, told BI.Luckin's same-store sales were down more than <a target="_blank" rel=" nofollow" class="" href="https://investor.lkcoffee.com/static-files/ec2bafa0-1543-4d62-811d-7115a4349c5c">20%</a> in its two most recent quarters.Consumers are "increasingly rational and pragmatic," Xie said. This makes the price gap between coffee chains an even "bigger challenge" for Starbucks, He said.<div type="image" title="Staff members work at a Starbucks store in downtown Shanghai, east China, Sept. 27, 2022" height="2591" width="3768" msid="112739530" hostid="261" sizebytes="445164"></div><h2 id="d2465509-1a5e-4882-8ccd-74af5a947267">Starbucks remains optimistic</h2>Starbucks executives say the chain is focused on its long-term plan in China.Narasimhan <a target="_blank" class="" href="https://s203.q4cdn.com/326826266/files/doc_events/2024/01/1/SBUX-Q1-2024-Earnings-Call.pdf">said</a> in January that Starbucks was focused on offering more coffee-forward, locally-relevant products in China and opening stores in smaller cities "where we see meaningfully stronger new store economics." He noted that the company was "well on track" to meet its 2025 target of 9,000 stores in China.Starbucks added <a target="_blank" rel=" nofollow" class="" href="https://investor.starbucks.com/news/financial-releases/news-details/2024/Starbucks-Reports-Q3-Fiscal-2024-Results/default.aspx">more than 800</a> new Chinese stores in the year to June 30. The chain has continued to grow in China "in the hope that there's some market shakeout," but in the short term, "it's a pretty tough road that they're going through right now," Andy Barish, an analyst at Jefferies, <a target="_blank" class="" href="https://www.businessinsider.com/starbucks-traffic-sales-comparable-us-china-visitors-transactions-brian-niccol-2024-8">said</a>.

China is Starbucks' 2nd biggest market, but sales are slumping. Here's why.

<ul><li>The global <keyword id="20211456" type="General" weightage="20" keywordseo="smartphone-shipments" source="keywords">smartphone shipments</keyword> reported a growth of 6.5% in <keyword id="22245015" type="General" weightage="20" keywordseo="Q2-2024" source="keywords">Q2 2024</keyword>.</li><li>285.4 million smartphones were shipped across the world in Q2 2024.</li><li>Samsung emerged as the leader with an 18.9% market share, followed by Apple and <keyword id="19901379" type="General" weightage="20" keywordseo="Xiaomi" source="keywords" meta.keywordsubtype="org" meta.entityname="Xiaomi" meta.hostid="261" meta.entityid="Xiaomi">Xiaomi</keyword>.</li></ul> Worldwide smartphone shipments continued to grow in Q2 2024, marking the fourth consecutive quarter to record an increase in smartphone shipments. While the top companies have reported growth, the competition has also increased. According to a report by the International Data Corporation (IDC), 285.4 million smartphones were shipped across the world in Q2 2024, marking a 6.5% year-on-year increase. "While recovery is well under way with the top 5 companies all making year-over-year gains, we are seeing increasing competition amongst the leaders and a polarisation of price bands,” said Nabila Popal, research director, IDC Worldwide Tracker team. <h2><keyword id="22416210" type="General" weightage="100" keywordseo="smartphone-shipments-q2-2024" source="Orion">Smartphone shipments Q2 2024</keyword></h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 2024 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 2023 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">53.9 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">53.5 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.70% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apple </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">45.2 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">44.5 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.50% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">42.3 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">33.2 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">27.40% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.9 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.3 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.90% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oppo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.8 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.4 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.80% </td></tr></tbody></table> Source: IDC, shipment in millions Samsung continues to lead the global smartphone market with 53.9 million devices shipped in Q2 2024, up from 53.5% of devices shipped in Q2 2023, recording a 0.7% increase in shipments. Apple on the other hand shipped 45.2 million devices in Q2 2024, up from 44.5 million devices shipped in Q2 2024, registering a 1.5% growth. <h2>Xiaomi records the highest growth</h2>Chinese smartphone maker Xiaomi recorded the highest growth in Q2 2024, shipping 42.3 million devices, up from 33.2 million devices shipped in Q2 2023, registering a 27.4% year-on-year growth. Vivo also recorded excellent year-on-year growth at 21.9%. The company shipped 25.9 million devices in Q2 2024, up from 21.3 million devices in Q2 2023. Oppo, which is in the fifth position shipped 25.8 million devices in Q2 2024, up from 25.4 million devices shipped in Q2 2023, recording a 1.8% growth in shipments. <h2>Smartphone Market Share Q2 2024</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 2024 market share </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.90% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apple </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.80% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.80% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivo </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.10% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oppo </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr></tbody></table> Source: IDC Samsung continues to lead the market with an 18.9% market share in Q2 2024, followed by Apple with a 15.8% market share and Xiaomi is a close third with a 14.8% market share. “The second quarter is more like a prelude before more Gen AI smartphones are launched in the second half of the year, which will potentially be the next growth driver after 5G and foldables,” said Will Wong, senior research manager for Client Devices, IDC. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-four-ipos-to-hit-the-street-this-week/articleshow/111745283.cms">IPOs this week – four IPOs to hit the street this week</a> <a href="https://www.businessinsider.in/business/auto/news/its-raining-discounts-maruti-suzuki-hyundai-tata-motors-and-others-offer-discounts-on-cars-as-sales-slowdown/articleshow/111688501.cms">It’s raining discounts – Maruti Suzuki, Hyundai, Tata Motors and others offer discounts on cars as sales slowdown</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-galaxy-z-flip-6-galaxy-ring-and-more-launched/articleshow/111637913.cms">Samsung Galaxy Z Fold 6, Galaxy Z Flip 6, Galaxy Ring and more launched</a>

Global smartphone shipments grow 6.5% in Q2 2024, Xiaomi records highest growth

<ul><li><keyword id="23313190" type="General" weightage="100" keywordseo="Musashi-Seimitsu" source="keywords">Musashi Seimitsu</keyword> Industry and <keyword id="23313191" type="General" weightage="20" keywordseo="Log9-Materials" source="keywords" meta.keywordsubtype="org" meta.entityname="Log9 Materials" meta.hostid="261" meta.entityid="Log9 Materials">Log9 Materials</keyword> have announced a strategic partnership.</li><li>The two companies will produce powertrain technology and battery solutions for EVs.</li><li>The companies will offer these solutions in India and global markets.</li></ul> Japanese firm Musashi Seimitsu Industry, the parent company of Musashi India has announced a strategic partnership with Indian <keyword id="20172158" type="General" weightage="20" keywordseo="battery-technology" source="keywords">battery technology</keyword> company Log9 Materials, aimed at developing advanced electric vehicle powertrain technology and battery solutions for OEMs in the domestic and global markets. The partnership aims at combining Musashi's <keyword id="23313192" type="General" weightage="20" keywordseo="e-Axle-system" source="keywords">e-Axle system</keyword> and Log9 Materials’ battery technology to create integrated powertrain solutions tailored specifically for electric two and three-wheelers. “This partnership marks a significant milestone in our vision to reshape the electric mobility landscape. By joining forces with Log9, we are committed to delivering a comprehensive, high-performance solution tailored for <keyword id="20345883" type="General" weightage="20" keywordseo="electric-two-wheelers" source="keywords">electric two-wheelers</keyword> and three-wheelers. Our goal is to address critical market gaps and offer an integrated system that enhances energy efficiency, optimizes synergy between battery and drivetrain systems, and sets new industry standards for sustainability and innovation,” said Hiroshi Otsuka, President and Group CEO, Musashi. In June, Musashi Seimitsu’s subsidiary Musashi Auto Parts India announced that it is starting mass production of e-Axles for electric two-wheelers in the domestic market. The company said by seamlessly integrating battery packs with e-Axles, the partnership aims to reduce energy losses common in conventional powertrains, extending vehicle range and improving performance across diverse driving conditions, especially in densely populated urban areas. "By combining Musahi's expertise in manufacturing and energy-efficient motion conversion with Log9's battery technology, we aim to bring the most efficient powertrain solutions to the market. Both companies are committed to the common goal of decarbonizing the world through innovative technology, and this collaboration strengthens our aligned business ethos and future objectives," said Pankaj Sharma, Co-founder of Log9 Materials. A key aspect of this partnership is the centralized service model for the integrated battery and e-Axle systems, which will reduce repair downtime and improve customer satisfaction through quicker service turnaround, it said. Beyond India, the partnership aims to expand into global markets, including Southeast Asia and Africa, supported by a robust after-sales service network in major Indian cities. As per the company, Musashi's entry into the EV sector aligns with its strategic goals of fostering innovation and contributing to global carbon emission reduction efforts. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/entertainment/news/it-is-cheaper-to-watch-coldplay-perform-in-abu-dhabi-than-to-pay-scalpers-for-mumbai-tickets/articleshow/113665893.cms">It is cheaper to watch Coldplay perform in Abu Dhabi than to pay scalpers for Mumbai tickets</a> <a href="https://www.businessinsider.in/business/auto/news/hyundai-motor-indias-25000-crore-ipo-gets-sebi-approval-indias-biggest-ipo-expected-to-launch-in-october/articleshow/113658837.cms">Hyundai Motor India’s ₹25,000 crore IPO gets SEBI approval – India’s biggest IPO expected to launch in October</a> <a href="https://www.businessinsider.in/business/auto/news/tata-nexon-ev-with-a-bigger-battery-launched-starting-at-13-99-lakh/articleshow/113631992.cms">Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh</a>

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