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<ul><li>Budget smartphones sell the most in India, and yet, it turns out that the needs of the post-Covid world have pushed Indians into buying more expensive smartphones. </li><li>While the budget smartphone segment grew in single digits in the last year, <keyword id="2210169" type="General" weightage="20" keywordseo="xiaomi-india" source="Orion">Xiaomi India</keyword>’s <keyword id="1969707" type="General" weightage="20" keywordseo="raghu-reddy" source="Orion">Raghu Reddy</keyword> says the sub-₹30,000 segment almost doubled. </li><li>Even though 5G is yet to launch in the country, Raghu says it is one of the top features customers look for in the ₹20,000 and above price segment. </li></ul>The post-Covid world has seen tech adoption at a scale that neither companies nor individuals were ready for, nor had they planned to. From laptops to smartphones, work from home or online classes – people have had to make tech upgrades that were not considered necessary before. And this has had a major impact on what kind of smartphones people buy now. We have seen the impact of tech upgrades in the enterprise segment as well, with Indian IT giants TCS and Infosys reporting strong earnings over the past year, despite the pressure of employees having to work from home. To understand the impact of this on the consumer side, we caught up with Xiaomi India’s chief business officer, Raghu Reddy. <cmsannotation type="cmsannotation" annotationid="Here are the key takeaways" comment="subhead" text="Here are the key takeaways">Here are the key takeaways</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Post-Covid world has pushed people to move upwards for their smartphone upgrades" comment="subhead" text="Post-Covid world has pushed people to move upwards for their smartphone upgrades">Post-Covid world has pushed people to move upwards for their smartphone upgrades</cmsannotation> Xiaomi has been in the Indian market for a long time now, known for its value-for-money offerings. A big part of this success has been driven by the Redmi brand of smartphones. That is now changing. According to Raghu Reddy, when compared to 2020, the company observed that the ₹20,000-30,000 and ₹30,000 and above smartphone segments nearly doubled in 2021. The value-for-money segment, which is below the ₹15,000-20,000 level, witnessed only single-digit growth, Raghu added, despite this segment being highly crowded with several options available across all brands. “A lot of these customers are also people who've been owning smartphones, I mean, they've already gone through three or four smartphones. So, when they're upgrading, they definitely know what they want. And they're definitely looking for more powerful options,” Raghu told Business Insider, explaining that customers are aware of the options available and they now want better phones. <cmsannotation type="cmsannotation" annotationid="Powerful processor still more important than everything else" comment="subhead" text="Powerful processor still more important than everything else">Powerful processor still more important than everything else</cmsannotation> Smartphones have continued the upward trajectory when it comes to power and performance. Xiaomi’s entry in India was with the Mi 3 – a smartphone that was powered by the then-flagship Snapdragon 800 chipset, blowing the Moto G with Snapdragon 400 out of the water. Over the years, the processor specifications continued to gain prominence even amongst the casual smartphone enthusiasts, regardless of whether or not people understand the intricacies of the Gigahertz, Megahertz, number of cores and other metrics. This, Raghu says, continues to be the top feature that customers look for. “The first thing that people look for is really a very strong processor because they know that what they're doing so much with the device, they will want their processor to ensure that everything works very smoothly. So that happens to be, you know, the foremost factor in the customer’s mind,” he said. Other things like cameras, 5G, fast charging and display-related details are secondary, and almost on an equal footing with each other, Raghu said. <div type="image" title="shiwa-id-kxqgk1lKSsY-unsplash" msid="88969446" hostid="261" caption="&amp;lt;p&amp;gt;People want 5G support even before it is available&amp;lt;/p&amp;gt;"></div> However, at ₹20,000 and above price points, 5G is one of the top features that people are looking for, according to Raghu, since people will use their smartphones for at least 2-3 years. By then, we should likely have functional 5G services available in the country. <cmsannotation type="cmsannotation" annotationid="Looking beyond smartphones – the Mi ecosystem" comment="subhead" text="Looking beyond smartphones – the Mi ecosystem">Looking beyond smartphones – the Mi ecosystem</cmsannotation> Xiaomi sells a wide range of products – many vastly different and unrelated to smartphones, its staple. Some of these include things like robot vacuum cleaners, water and air purifiers, smart bulbs, screwdriver kits and even sunglasses. The company first introduced its robot vacuum cleaners in India via a crowdfunding platform, which is unique in its own way and also helped the company mobilise a word-of-mouth campaign that we usually don’t see in these categories. This, Raghu says, proved to be a successful launch for the company and that it will launch upgrades for products that have done well. He also added that Xiaomi will evaluate if there could be more interesting products that can be brought to India via the crowdfunding route but stopped short of divulging more details. That said, we should know more in the coming months. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budget-2022-expectation-in-higher-standard-deduction-tax-slabs-and-covid-insurance/slidelist/88891751.cms">From higher standard deduction to clarity on Covid insurance, here’s what tax experts want from Budget 2022</a> <a href="https://www.businessinsider.in/business/auto/news/tesla-india-prospects-get-a-boost-as-states-compete-with-each-other-to-invite-elon-musk-to-their-backyard/articleshow/88890951.cms">Tesla India prospects get a boost as states compete with each other to invite Elon Musk to their backyard</a> <a href="https://www.businessinsider.in/business/telecom/news/government-owning-vodafone-idea-is-just-half-the-task-the-other-half-is-to-find-the-money/articleshow/88836355.cms">Government owning Vodafone Idea is just half the task – the other half is to find the money</a>

INTERVIEW: The sub-₹30,000 smartphone segment has nearly doubled in the last one year, says Xiaomi India’s chief business officer

Rising prices of essential kitchen items pushed the <keyword id="513422" type="General" weightage="20" keywordseo="Retail-inflation" source="Orion">retail inflation</keyword> to a six-month high of 5.59 per cent in December, close to the Reserve Bank's upper tolerance limit of 6 per cent. The <keyword id="134096" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="Orion">Consumer Price Index</keyword> (CPI) based retail inflation was 4.91 per cent in November 2021 and 4.59 per cent in December 2020. The RBI, which mainly factors in the CPI-based retail inflation while arriving at its bi-monthly monetary policy, has been tasked by the government to keep the inflation at 4 per cent with margin of 2 per cent on either side (that is, in the range of 2-6 per cent). Retail inflation has been rising since October 2021. In July too the rate of price rise was 5.59 per cent but it slowed in the subsequent two months, before starting to move up from October. As per the data released by the <keyword id="7734679" type="General" weightage="20" keywordseo="National-Statistical-Office" source="Orion">National Statistical Office</keyword> (NSO) on Wednesday, food inflation was at 4.05 per cent in December this fiscal compared to 1.87 per cent in the preceding month. In the food basket, inflation was on higher side in 'cereals and products', eggs, 'milk and products', spices, and 'prepared meals, snacks and sweets' segments in December over the preceding month. However, the rate of price rise was slower in case of vegetables, fruits, and 'oil and fats'. In the 'fuel and light' category, though the inflation softened from a month ago, it remained elevated at 10.95 per cent during the month. It was 13.35 per cent in November 2021. The Reserve Bank expects the inflation print to be somewhat higher over the rest of the year as base effects turn adverse. According to the RBI, it is expected that headline inflation will peak in the fourth quarter of the current fiscal and soften thereafter. Aditi Nayar, chief economist at Icra, said the increase in CPI inflation in December 2021 relative to the previous month was primarily led by food and beverages, and clothing and footwear. There was a welcome moderation in the prints for fuel and light, and pan, tobacco etc amidst a mild dip in miscellaneous items and housing, she added. "Overall, we expect the headline CPI inflation to range between 5.7 - 6 per cent in Q4 FY2022, as compared to the MPC's (<keyword id="6375120" type="General" weightage="20" keywordseo="monetary-policy-committee" source="Orion">Monetary Policy Committee</keyword>) forecast of 5.7 per cent. "While the CPI inflation has hardened sharply between November and December 2021, the uncertainty triggered by the third wave is sure to take precedence when the MPC meets next month. We now see a negligible likelihood of a change in stance or reverse repo hike in the February 2022 policy review," Nayar said. With a higher inflation target, the MPC can choose to prioritise growth revival for much longer than other major central banks, for many of whom inflation control has become a pressing policy focus, she noted. The RBI's next monetary policy meeting will be held in February. "Food inflation is expected to increase further due to supply bottlenecks and adverse weather conditions. "Although there has been a 68 basis points increase in the inflation rate in December over the previous month, the average inflation for Q3 remained below the RBI's estimates of 5.3 per cent," said M Govinda Rao, Chief Economic Adviser at Brickwork Ratings. The CPI has now remained within the tolerance level for the sixth month in a row with 5.59 per cent this December, D R E Reddy, CEO and Managing Partner at CRCL LLP said. "Inflationary pressures on food are projected to remain low for the foreseeable future. Household income has also increased, indicating a boost in discretionary income in the hands of the average person. Overall, these figures show that the economy is rapidly rebounding from the pandemic's devastation," Reddy said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/icmr-experts-reject-inclusion-of-molnupiravir-in-covid-19-treatment-guidelines-for-fourth-time-citing-safety-concerns/articleshow/88867442.cms">ICMR experts reject inclusion of Molnupiravir in COVID-19 treatment guidelines for fourth time citing safety concerns</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/scientist-s-somanath-to-take-over-as-new-isro-chairman/articleshow/88867399.cms">Scientist S. Somanath to take over as new ISRO chairman</a>

Retail inflation rises close to 6% in December on costlier kitchen staples

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://www.gettyimages.com/detail/news-photo/melanie-whelan-attends-the-ivy-innovator-new-york-dinner-news-photo/500523882">D Dipasupil/Getty Images</a>SoulCycle CEO Melanie Whelan.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/soulcycle">SoulCycle</a> CEO Melanie Whelan is stepping down from the company as part of a "mutual agreement" between Whelan and the board, a spokesperson for the company confirmed to Business Insider. </li><li>Sunder Reddy, SoulCycle's chief financial officer, will take over as interim CEO as the company seeks a replacement. </li><li>"I'm deeply grateful for the opportunity to have led the SoulCycle team and brand over the past nearly eight years during a transformational time for this amazing community," Whelan said in a statement shared with Business Insider.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul><a href="https://www.businessinsider.com/category/soulcycle">SoulCycle</a> CEO Melanie Whelan has resigned from her position after seven years with the company. A spokesperson for SoulCycle confirmed to Business Insider that the move is a "mutual agreement" between Whelan and the board, effective today. Sunder Reddy, SoulCycle's chief financial officer, will take over as interim CEO as the company looks to appoint a replacement for Whelan, who is expected to help with the transition. "I'm deeply grateful for the opportunity to have led the SoulCycle team and brand over the past nearly eight years during a transformational time for this amazing community," Whelan said in a statement shared with Business Insider. "The future is bright for this one-of-a-kind organization and I will be cheering on its continued growth and success."Though a reason for her departure was not initially provided, <a href="https://www.cnbc.com/2019/11/26/soulcycle-ceo-melanie-whelan-resigns.html?__source=iosappshare%7Ccom.apple.UIKit.activity.PostToTwitter">CNBC Make It first reported</a> that "both sides felt it was time for a leadership transition," according to a source who asked not to be named. Whelan started at the company in 2012 as chief operating officer before taking the helm in 2015. Shortly after, the company filed for an initial public offering only to withdraw it in 2018. She previously worked as vice president of business development at Equinox. 2019 was a particularly tumultuous year for the fitness brand, after it was the <a href="https://www.businessinsider.com/equinox-soulcycle-face-backlash-over-chairmans-trump-ties-2019-8">subject of nationwide backlash and mass boycotts</a> after reports that Stephen Ross, the chairman of the company that owns both SoulCycle and Equinox, had ties to President Donald Trump. The Related Cos. acquired Equinox in 2005, and Ross sits on the board of directors; SoulCycle is owned by Equinox.In August, Ross held a reelection fundraiser at his private Hamptons home, prompting SoulCycle riders and Equinox members to say they would be quitting their memberships and canceling their classes en masse. In a statement sent to Business Insider, Harvey Spevak, executive chairman of SoulCycle, thanked Whelan for her work with the company. "We want to thank Melanie for her hard work and dedication to SoulCycle," he said. "Melanie and I have worked together for many years and I look forward to seeing what she conquers next. We're grateful to have such a strong interim leader in Sunder throughout this transition, and are actively supporting him as we search for a permanent replacement." <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/why-apple-products-are-so-expensive-iphone-macbook-2019-11">Why Apple products are so expensive</a></h3> <div> </div> </div>

SoulCycle CEO Melanie Whelan has resigned, marking the end of a tumultuous year for the boutique fitness company

Narendra Modi, who led the BJP-led National Democratic Alliance (NDA) to a spectacular victory in the 2019 Lok Sabha elections, on Thursday took oath as the Prime Minister. President Ram Nath Kovind administered the oath of office and secrecy in Hindi to Modi at a ceremony attended by thousands of people at the forecourt of Rashtrapati Bhavan Sushma Swaraj, Suresh Prabhu, V.K. Singh, Mahesh Sharma, Jayant Sinha and Rajyavardhan Singh Rathore were among the Union Ministers missing from the dais for ministers to be inducted in the new Modi government. Here’s a list of all the ministers who will be joining the new government : <ul><li>Amit Shah</li><li>Ravi Shankar Prasad</li><li>Piyush Goyal</li></ul>In the first government of Prime Minister Narendra Modi formed in 2014, Goyal has handled important ministries -- first as a junior independent Minister in key economic drivers like Coal, Power and New and Renewable Energies and later as Cabinet Minister for Railways and briefly for Finance and Corporate Affairs. <ul><li>Smriti Irani</li></ul>Bharatiya Janata Party leader Smriti Irani, defeated Gandhi with margin of 55,120 in the bitterly contested high profile seat, which has fetched nation's attention. <ul><li>Nirmala Sitharaman</li><li>Kiren Rijiju</li></ul> Kiren Rijiju has been the face of the Bharatiya Janata Party (BJP) in the northeastern states. He defeated former Arunachal Pradesh Chief Minister Nabam Tuki by a margin of 1,74,843 votes. While he got 63.02 per cent votes, Tuki could get only 14.22 per cent of votes. <ul><li>Rajnath Singh</li><li>Nitin Gadkari</li></ul>In the first term of Prime Minister Narendra Modi, Gadkari handled crucial and high-visibility infrastructure-related portfolios like Road Transport &amp; Highways, Shipping, etc and made his indelible mark there. <ul><li>Dharmendra Pradhan</li><li>Dr Harshavardhan</li><li>S Jaishankar</li></ul>Former Foreign Secretary S. Jaishankar, who played a key role in shaping the foreign policy of Prime Minister Narendra Modis first term, induction in the Council of Ministers marks a recognition of the exceptional work of what he did in the Foreign Ministry. The 64-year-old Indian Foreign Service (IFS) officer on Thursday took oath as a Cabinet Minister though he is not a member of either House of Parliament. <ul><li>Krishan Pal Gurjar</li><li>Shripad Naik</li><li>Narendra Singh Tomar</li><li>Rao Inderjit Singh</li><li>VK Singh</li><li>Arjun Ram Meghwal</li><li>Ram Vilas Paswan</li><li>Harsimrat Kaur</li></ul>Harsimrat Kaur Badal, who held the portfolio of Food Processing Industry in the previous Modi-led central government, got a Union cabinet berth for a second term on Thursday <ul><li>DV Sadananda Gowda</li></ul>DV Sadananda got elected for the second time from the prestigious Bangalore North seat in the 2019 Lok Sabha polls. He became the Union Minister for the first time in May 2014 in the NDA-1 government. <ul><li>Babul Supriyo </li><li>Prakash Javadekar</li></ul>During the first term of Prime Minister Narendra Modi, Javadekar served first as a junior minister handling several portfolios - Parliamentary Affairs, and later Information and Broadcasting, and also Environment, Forest and Climate Change (both ministries as independent charge). In the 2016 cabinet reshuffle, he earned the trust of Modi and was allotted the critical Human Resource and Development Ministry and has contributed hugely to the development, improvement and streamlining of various educational systems in the country. <ul><li>Ramdas Athavale</li><li>Jitender Singh</li><li>Niranjan Jyoti</li><li>Parshottam Rupala</li><li>Thawar Chand Gehlot</li><li>Rattan Lal Kataria </li><li>Ramesh Pokhriyal Nishank</li><li>RCP Singh </li><li>G Kishan Reddy </li></ul>G. Kishan Reddy, who was sworn in as Union minister on Thursday, is one of the prominent faces of the BJP in Telangana. A three-time MLA, Kishan Reddy is a first-term MP from Secunderabad, one of the Lok Sabha constituencies in Telangana state capital Hyderabad. <ul><li>Suresh Angadi </li><li>A Ravindranath </li><li>Kailash Choudhary </li><li>Pralhad Joshi </li></ul>Pralhad Joshi won the Dharwad Lok Sabha constituency in northwest Karnataka for the fourth time in a row in the just-concluded general elections. <ul><li>Som Parkash</li></ul>Seventy-year-old former Indian Administrative Service officer of Punjab cadre Som Parkash is the Dalit face of the Bharatiya Janata Party (BJP) in Punjab.He is one of the new faces in the Prime Minister Narendra Modi government. The first-time Member of Parliament from Hoshiarpur (reserved) defeated his nearest Congress rival Raj Kumar Chabbewal by 93,898 votes <ul><li>Rameshwar Teli </li><li>Subrat Pathak </li><li>Deboshree Choudhury </li><li>Rita Bahuguna Joshi</li><li>Ram Vilas Paswan </li></ul> In active politics for over five decades now, Lok Janshakti Party (LJP) chief Ram Vilas Paswan is one of the more prominent Dalit faces in the BJP-led NDA. <ul><li>Arvind G Sawant</li></ul>Arvind G. Sawant, 68, is the Shiv Sena's third Union minister (after Manohar Joshi and Suresh Prabhu) hailing from Mumbai, the city where the party was born, the country's commercial and glamour capital, from where he is now elected for a second term from the prestigious Mumbai South Lok Sabha constituency. (With IANS)

Meet the new cabinet ministers in the Modi government 2.0

<keyword id="12864" type="LOCATION" weightage="20" keywordseo="Chennai">Chennai</keyword>, Actor <keyword id="14509" type="PERSON" weightage="20" keywordseo="Rajinikanth">Rajinikanth</keyword> on Monday told the District Secretaries of '<keyword id="6124611" type="COMPANY" weightage="20" keywordseo="Rajini-Makkal-Mandram">Rajini Makkal Mandram</keyword>' that he would announce the decision on his <keyword id="10355431" type="UNKNOWN" weightage="20" keywordseo="active-political-plunge">active political plunge</keyword> soon through the media. Speaking to reporters here, a couple of District Secretaries said the actor had told them that he would decide on floating a political party and plunge into politics. Rajinikanth would announce his decision on jumping into active Tamil Nadu politics soon, said two District Secretaries, who met the actor on Monday. According to the Mandram officials, they also expressed concern at Rajinikanth's health condition, and contesting the 2021 Tamil Nadu Assembly polls will be the ideal time. The meeting lasted for about two hours. After the meeting he waved at the crowd assembled outside his <keyword id="1247166" type="COMPANY" weightage="20" keywordseo="Raghavendra-Kalyana-Mandapam">Raghavendra Kalyana Mandapam</keyword> sans mask. It is also said Rajinikanth had told the District Secretaries that it is not possible for anyone to make money in politics with him. Last month Rajinikanth tweeted that he would consult with the officials of Rajini Makkal Mandram about his health condition and announce his political stance to the people. At that time denying a statement purported to be issued by him announcing his decision to quit politics, Rajinikanth said some of the contents in that statement relating to his health and the medical advice given by the doctors were true. "After discussing the matter with the officials of the Rajini Makkal Mandram, at an appropriate time I will announce my political stance to the people," Rajinikanth had said. As per the alleged statement, Rajinikanth's doctors had voiced their reservations on his political entry since he had undergone a kidney transplant sometime back.t They had also told him that there was no vaccine for Covid-19 and even if there was one, whether it would be effective at his age of 70. The election for Tamil Nadu Assembly is slated in 2021. As per the purported statement, if Rajinikanth had to start a political party then the plans would have to be finalised by December and an announcement to be made by January 15 next year. The condition of his health getting bad was also mentioned as he had to address rallies and meet people once he plunged into active politics during the Covid-19 period. Asserting that he was not getting into politics for the sake of power, actor turned politician Rajinikanth in March this year ruled himself out of the race for the Tamil Nadu Chief Minister's post and said there was an urgent need for a change in the system. He said that his political party and the government, in case it came to power, would have different leaders. He said that 60-65 per cent of his party's candidate for the Tamil Nadu Assembly polls will be in the age group of 45-50. The remaining seats will go to good people in other parties, professionals, judges, and former IAS officers. Recalling his speech on December 31, 2017, Rajini said that he was not into politics for power. At the age of 45 (in 1996) he was not interested in political power, and now at the age of 68 (in 2017) one cannot say he is power crazy, he recalled saying two years ago. On December 31, 2017, Rajinikanth had announced his decision to float a political party to practice 'spiritual politics' and contest all 234 Assembly seats in Tamil Nadu in 2021. The actor said at that time that his entry into politics was a "compulsion of time" since the country's politics had gone wrong. Rajinikanth had remarked that while earlier kings would invade other countries and loot them, nowadays political parties were looting their own people under the guise of democracy. The system needed a change, he added. After 2017, Rajinikanth has voiced his views on some issues. In the wake of anti-Sterlite Copper smelter plant protest in Tuticorin and killing of 13 persons in police firing, he said that Tamil Nadu would turn into a graveyard if protests were held for everything. Later, he said that he was not a mouthpiece of the BJP and attempts were being made to paint him in saffron. SEE ALSO - <a href="https://www.businessinsider.in/india/news/pm-modi-to-hold-talks-gennova-biopharma-biological-e-dr-reddys-teams-involved-in-developing-the-covid-19-vaccine/articleshow/79484713.cms" data-type="tilCustomLink">https://www.businessinsider.in/india/news/pm-modi-to-hold-talks-gennova-biopharma-biological-e-dr-reddys-teams-involved-in-developing-the-covid-19-vaccine/articleshow/79484713.cms</a> <a href="https://www.businessinsider.in/india/news/rajasthan-government-imposes-night-curfew-from-8-pm-to-6-am-these-are-the-districts-under-restriction/articleshow/79484267.cms" data-type="tilCustomLink">https://www.businessinsider.in/india/news/rajasthan-government-imposes-night-curfew-from-8-pm-to-6-am-these-are-the-districts-under-restriction/articleshow/79484267.cms</a>

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INTERVIEW: The sub-₹30,000 smartphone segment has nearly doubled in the last one year, says Xiaomi India’s chief business officer

Rounak Jain

Retail inflation rises close to 6% in December on costlier kitchen staples

PTI

SoulCycle CEO Melanie Whelan has resigned, marking the end of a tumultuous year for the boutique fitness company

Bethany Biron

Meet the new cabinet ministers in the Modi government 2.0

BI India Bureau

Rajinikanth to announce decision on active political plunge soon

IANS

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