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New Delhi, Online travel service provider <keyword id="10861063" type="General" weightage="20" keywordseo="Easy-Trip-Planners" source="Orion">Easy Trip Planners</keyword> Ltd on Monday reported a 21.82 per cent decline in consolidated net profit at Rs 25.9 crore for the June quarter. The company had posted a consolidated net profit of Rs 33.13 crore in the year-ago quarter, Easy Trip Planners, which operates under the brand EaseMyTrip, said in a regulatory filing. Consolidated revenue from operations during the first quarter of the current fiscal stood at Rs 124.05 crore, as against Rs 87.58 crore a year ago, it added. Total expenses were higher at Rs 91.56 crore, as compared to Rs 47 crore in the same period a year ago, the company said.

Easy Trip Planners Q1 2023-24 profit declines 22% to Rs 26 crore

<ul><li>The company’s stock was trading at around ₹714 in early trading hours on Friday.</li><li>The development comes a day after <keyword id="5030468" type="General" weightage="20" keywordseo="easemytrip" source="Orion">EaseMyTrip</keyword> expanded its international footprint to the US, Philippines and Thailand.</li><li>The company had doubled its net profit to ₹61.4 crore in the financial year 2021.</li></ul>Publicly-listed travel ticketing app EaseMyTrip has hit $1 billion in market capitalisation earlier on Friday, September 17. The company’s stock was trading at ₹714.15 at 9:38 a.m., on Friday. That’s when the company’s market cap crossed the ₹7,300 crore threshold. Shares of the travel tech startup, which goes by the name Easy Trip Planners, were trading at ₹663.55 at 11:10 a.m., on Friday as its market cap dropped to ₹7,215 crore ($981 million). The development comes a day after EaseMyTrip expanded its international footprint in the United States, The Philippines and Thailand. The company has forayed into new countries anticipating a huge pent-up global travel demand in the coming months, the company said in its regulatory filings. Aloke Bajpai, founder and chief executive of another travel tech startup ixigo, congratulated EaseMyTrip on achieving this benchmark. Like EaseMyTrip, rival ixigo is also planning to hit the public markets this year and has filed the preliminary papers for its<a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms"> ₹1,600 crore</a> initial public offering (IPO). <div type="twitter" handle="alokebajpai" handlename="Aloke Bajpai" image="http://pbs.twimg.com/profile_images/1285439472339791873/wki9K2bg_normal.jpg" favoritecount="78" retweetcount="16" status="Congratulations to @EaseMyTrip @nishantpitti @rikantpitti @ppitti for hitting $1 Bn market cap in the public market… https://t.co/Ow4gE1YSKW" createdat="1631853920000" id="1438725735686959106"></div> Earlier this month, Anand Rathi had issued a buy call on Easy Trip Planners with a target price of ₹550. At the time, the company’s stock was trading at ₹462.35. <div type="image" title="EaseMyTrip touches market cap of a billion dollars" msid="86285944" hostid="261"></div> Founded in 2008 by Nishant Pitti, Prashant Pitti and Rikant Pitti, EaseMyTrip offers deals on flight booking, hotels and holiday packages. The company has been one of the few bootstrapped startups to hit the public market and has been profitable as well. The company even doubled its net profit to ₹61.4 crore in the financial year 2021, when the entire travel segment was brought down to its knees due to COVID-19. Its revenue, however, declined to ₹150 crore from ₹181 crore reported in FY20. SEE ALSO <a href="https://www.businessinsider.in/careers/news/the-only-way-to-beat-the-bots-from-taking-your-job-is-to-be-more-human/articleshow/86282273.cms">Future of Work 2021: The only way to beat the bots from taking your job is to be more human</a> <a href="https://www.businessinsider.in/stock-market/news/biocon-hero-motocorp-tvs-motor-banks-and-other-top-stocks-to-watch-out-for-on-september-17/articleshow/86281250.cms">Biocon, Hero MotoCorp, TVS Motor, banks and other top stocks to watch out for on September 17</a> <a href="https://www.businessinsider.in/business/news/biocon-biologics-to-offer-15-stake-to-serum-institute-life-sciences-at-valuation-of-4-9-billion/articleshow/86281318.cms">Biocon Biologics to offer 15% stake to Serum Institute Life Sciences at valuation of $4.9 billion</a>

EaseMyTrip touches market cap of a billion dollars

<ul><li>The company had seen its IPO being oversubscribed by 159.33 times the offer value.</li><li><keyword id="5030468" type="UNKNOWN" weightage="20" keywordseo="EaseMyTrip">EaseMyTrip</keyword>’s IPO comes at a time when the fears of another lockdown are surging in the country, which could potentially affect travel.</li><li>However, ahead of its IPO, EaseMyTrip seemed optimistic about the travel industry.</li></ul>Easy Trip Planners Ltd, the parent company of online travel aggregator platform EaseMyTrip, which made its debut in the stock market today, saw its share price list at ₹212.25 at 9.50 am, 13.5% higher than the IPO issued price of ₹186-187 per share. However, within minutes of trading the share price fell to ₹204 at 10.13 am. Since its listing, the company’s market value rose to ₹2,305 crore. In the grey market, the shares of the company were trading at ₹160-165, as per <a href="https://www.livemint.com/market/ipo/easy-trip-planners-ipo-grey-market-premium-listing-gains-allocation-dates-in-10-points-11615094894205.html">reports.</a> However, the grey market is not an official measure of the market premium. The company had seen its IPO being oversubscribed by 159.33 times the offer value, with its QIB portion being subscribed 78 times, HNI 384.26 times and retail 70.78 times. EaseMyTrip’s IPO comes at a time when the fears of another lockdown are surging in the country, which could potentially affect travel. With the rising number of COVID-19 cases, several states have issued advisory while many cities are now subject to lockdowns or night curfews. However, ahead of its IPO, EaseMyTrip seemed optimistic about the travel industry. “In our third quarter of 2020, we have already recovered 70% of where we were during the same period last year,” Prashant Pitti, director at Easy Trip Planners (the parent company of EMT) told Business Insider in an interview. The company is an exception among a large pool of internet companies, which have tried to get listed – EaseMyTrip has bootstrapped its way to the public markets. Founded in 2008, the company is India’s second largest travel aggregator. EMT claims to have achieved profitability and calls itself “the only profitable company among key OTAs (online travel aggregators) in India”. According to a CRISIL report, as of FY20, EMT had a market share of 5% in India. However, the company believes that it would have gained market share in the last year. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/delhi-high-court-brings-up-civil-prison-for-violation-directs-future-group-to-recall-approvals-granted-to-future-retail-reliance-deal/articleshow/81570521.cms">Kishore Biyani vs Amazon – Delhi High Court brings up ‘civil prison’ for violation by Future Group, asks for recall of approvals granted to Future Retail-Reliance deal</a> <a href="https://www.businessinsider.in/business/corporates/news/accenture-announces-one-time-bonus-for-all-employees-as-the-tech-giant-sees-robust-revenue-growth/articleshow/81572548.cms">Accenture announces one-time bonus for all employees as the tech giant sees robust revenue growth</a>

EaseMyTrip lists at 13.5% premium – but gives up some of the listing gains soon after

<ul class="summary-list"><li>Elon Musk has gained $36 billion in net worth over the last week, per Bloomberg. </li><li>Musk is reaping the benefits after Tesla shares surged following his successful trip to China.</li></ul><a target="_blank" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> is $36 billion richer following his recent trip to China. The <a target="_blank" href="https://www.businessinsider.com/tesla">Tesla</a> CEO has gained $36 billion in net worth over the last week, according to <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-29/elon-musk-s-fortune-soars-by-most-since-before-twitter-purchase">Bloomberg's Billionaire Index</a>, after Tesla shares surged over reports that the company had moved a step closer to getting approval to <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-full-self-driving-technology-china-local-competition-2024-4">roll out its Full Self-Driving technology in China</a>. China is Tesla's second-biggest market. Musk's fortune, closely tied to his <a target="_blank" href="https://markets.businessinsider.com/news/stocks/elon-musk-tesla-tsla-stock-shares-net-worth-ownership-stake-2024-2">20.5% stake</a> in Tesla, has fluctuated considerably over the past few years. Despite the latest rally, the SpaceX CEO has seen his personal wealth drop by $27.5 billion since the start of the year, according to <a target="_blank" href="https://www.bloomberg.com/billionaires/">Bloomberg data</a>, as Tesla shares have trended downward. The automakers' stock dropped earlier this month as investors reacted to <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-q1-vehicle-delivery-miss-expectations-tsla-musk-2024-4">weaker-than-expected vehicle deliveries for Q1 </a>and reports that Musk had scrapped plans to build a $25,000 EV before shooting up after <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-elon-musk-affordable-electric-cars-earnings-2024-4">he promised to fast-track development of cheaper models</a> in the company's earnings call.Shares rose by 12% on Monday's opening bell following Musk's surprise trip to China, which Wedbush analyst <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-today-elon-musk-china-full-self-driving-2024-4">Dan Ives described as a "home run," </a>although they are still down nearly 22% since the start of the year.<a target="_blank" href="https://www.businessinsider.com/elon-musk-net-worth-tesla-stock-ev-billionaires-wealth-layoffs-2024-4">Musk is also still a lot less rich</a> than he was in 2021, when he was top of the billionaire's index with an estimated fortune of $340 billion. Three years later, he's now behind LVMH boss Bernard Arnault and Amazon founder Jeff Bezos, with a current estimated net worth of $202 billion.Musk has had a difficult few months. Tesla briefly lost its crown as the world's largest producer of electric vehicles to <a target="_blank" href="https://www.businessinsider.com/tesla-q4-sales-less-than-china-byd-2024-1">Chinese upstart BYD</a>, and laid off more than <a target="_blank" href="https://www.businessinsider.com/teslas-workers-nervous-about-future-after-layoffs-2024-4">10% of its global workforce</a> earlier this month.The EV giant has also faced a <a target="_blank" href="https://www.businessinsider.com/tesla-cybertruck-accelerator-pedal-recall-fix-includes-drilling-hole-2024-04">high-profile recall of nearly 4,000 Cybertrucks</a> the company has delivered so far, and reported <a target="_blank" href="https://www.businessinsider.com/tesla-stock-tsla-quarterly-earnings-call-report-live-updates-2024-4#tesla-misses-1st-quarter-eps-and-revenue-estimates-beats-on-gross-margin">plunging profits in its latest earnings</a> amid a brutal EV price war.But Musk has proved adept at spinning bad news into share price bumps in the past, <a target="_blank" href="https://www.businessinsider.com/elon-musk-was-2023-biggest-troll-hes-still-100b-richer-2023-12">raking in $100 billion last year</a> despite ongoing issues at social media site X, and after a bumpy few weeks, it looks like he's been able to do it again.Tesla did not immediately respond to a request for comment made outside normal working hours.

Elon Musk is $36 billion richer since returning from his triumphant China trip

At age 36, Jace Mattinson is already over <a target="_blank" href="https://www.businessinsider.com/retirement-peak-boomer-alice-social-security-masters-degree-student-loans-2024-5">retirement</a>. Four years ago, he sold his lumber company for seven figures, and he had enough saved that he never needed to work again.He said that was an enticing idea after five "extremely tough" years of owning a business. During that time, he was away from his home in Austin a few nights a week and hustling to run the 135-year-old company he'd acquired. After selling the company, he needed a long break from anything laborious."I was golfing three, four times a week. I was going to the lake. I was doing all my hobbies that I really cared about and enjoyed, ones that for the greater part of a decade I didn't have as much time to do," Mattinson told Business Insider.But after eight months, he decided <a target="_blank" href="https://www.businessinsider.com/planned-retirement-until-discovered-fire-2024-04">retirement</a> was not nearly as fulfilling as he'd imagined. He returned to a job in lumber distribution and revived his financial podcast. He said he wanted to continue to model a good work ethic for his kids.<div type="image" title="Jace Mattison" height="3024" width="4032" msid="110229499" hostid="261" sizebytes="1621048"></div>Mattinson has all the trappings of someone in the <a target="_blank" href="https://www.businessinsider.com/financial-independence-retire-early-fire-millennial-income-wealthy-business-owners-2024-4">FIRE movement</a>. The acronym, which stands for financial independence, retire early, was coined in the 1990s in the book "Your Money or Your Life" and popularized on blogs like Mr. Money Mustache and the investment site Motley Fool. The idea was to work hard, ideally with multiple income streams, live a life of austerity, invest prudently, and build a big enough nest egg to walk away from work well before the average retirement age of 64.But millennials, including Mattinson, who finds himself happiest when he has a balance of work and leisure, said they're not as interested in early retirement — and are creating their own versions of life after work.<h2>Millennials often want the FI without the RE</h2>Devotees of the FIRE movement often <a target="_blank" href="https://www.businessinsider.com/how-to-save-money-savings-strategies-tips-advice-super-savers-2022-1">save or invest the majority of their income</a>. Some take on extra jobs or delay major life milestones like marriage or having kids.It's an exclusive club, and many hungry millennials are eager to join it. <a target="_blank" href="https://www.facebook.com/groups/ChooseFI/">ChooseFI's Facebook group</a> has over 108,000 members, while the r/financialindependence subreddit has 2.2 million members. But for some FIRE wannabes, the "FI" part of the equation is the biggest focus, and the "RE" half seems to be less of a foregone conclusion.A popular rule of thumb among this group is the "4% rule," which says you should aim to save 25 times your annual expenses so you can withdraw 4% of your funds each year after you quit working. Some FIRE participants told BI that their target savings goal is between $1.5 million and $2.5 million, though many are working toward more for even greater security.To be sure, early retirees are a small slice of the population. According to Business Insider's analysis of American retirees, just 2.2% are 50 or younger. Less than 1% are below age 35. Just 0.75% of all Americans over 18 and under 50 are retired. Still, many BI spoke with retire unofficially or partially retire, taking on less responsibility at a company or moving to a lower-stakes position.BI spoke to a dozen millennials who have achieved or are on track to achieve financial independence. While some have retired and told BI they're enjoying it, most feel retirement is pointless and still want to build their careers or give back to their communities."The thing I have noticed shift most is the emphasis on FI and less on RE," Scott Rieckens, the executive producer of the film "<a target="_blank" href="https://www.playingwithfire.co/">Playing With FIRE</a>," said. "I think it's awesome to see, as it signals that financial independence is the key motive, which it is, and that work and purpose are actually really important. Retiring early to nothing is a bad idea."Brad Barrett, the host of the "ChooseFI" podcast, said "vanishingly few" people with the wherewithal to reach financial independence are retiring early. To him, reaching financial independence allows someone to live the life they want, but retiring early signifies turning away from everything you've worked toward.For many, financial freedom goes beyond quitting a job you don't like. Some said it's the ability to spend on travel or leisure without much stress — which has become even more important after the pandemic's peak. Others said it helps them lead a life of purpose, whether that means educating people on a podcast or leading charity efforts.The problem with retirement seems to be that people want to add value to their communities and within their own lives — and they believe work is the way to do that. As Bill Schaninger, a speaker, author, and thought leader on the future of work, found in research he conducted with Naina Dhingra <a target="_blank" href="https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-search-for-purpose-at-work">for McKinsey</a>, 70% of people who were surveyed said they define their purpose through work."Many people figured out one of the things that I get a lot of validation from is being clever, solving problems, participating, and working on something bigger than me," Schaninger told BI.COVID-19 may have amplified this, he added. "The fragility of our condition, I think, was brought home in a way that maybe many of us had taken for granted," he said. "And so now it's like, 'Well, if I'm going to do this, it has to matter.'"<h2>The millennial version of early retirement</h2>Mitch, 37, said he is about to quit his high-stress job and take a mini-retirement — he has a 22-stop national parks trip planned this summer.The Minnesota resident and vice president of a building-maintenance company, who asked that only his first name be used because of an ongoing job transition, has a net worth of about $2 million but said he's only planning to take a few months off before returning to the workforce in a lower-stress position. All the sources BI spoke with provided documentation of their net worth.Mitch said he stumbled into the online personal-finance community in his early 30s, which inspired him and his wife to increase their savings to at least 75% of their income by avoiding spending on luxury items. He said even his high savings won't affect his decision to quit working."I think a lot of traditional retirees lack purpose — they take a year or two of retirement and hate it because they do whatever and lose purpose," Mitch said. "The ones that volunteer, continue to coach and consult, or do whatever it is to sharpen their brain and really have a purpose tend to be some of the happiest retirees."<a target="_blank" href="https://www.businessinsider.com/how-to-make-money-podcasting-advice-financial-independence-2023-11">Brian Luebben, a financially independent millennial</a>, described having a panic attack shortly after he hit FI and quit his sales job."If you have anxiety, financial freedom is not going to solve it," he said. "If you have depression, financial freedom is not going to solve it. Be careful of the mountaintop moments. When you become a millionaire, when you become financially free, when you do all this stuff, no mariachi band follows you around and performs."He argued that achieving financial independence and hitting a specific number is "the simplest part." After all, there's a playbook for wealth-building strategies like investing in real estate or building an e-commerce business."The most difficult part is figuring out what you do when you have nothing to do all day," he said. "What do you choose to work on?"Luebben, who hosts a podcast and runs the entrepreneur resource <a target="_blank" href="https://theactionacademy.co/">The Action Academy</a> to help other people achieve financial freedom, said people should think through four core questions before they're even close to achieving financial independence: "What does the perfect day look like? What does the perfect week look like? Who was with you? And where?"Going through that exercise can help ensure that your identity doesn't become wrapped up in achieving FIRE, which is something that Grant Sabatier, who took a year and a half off from work after achieving financial independence, struggled with."I defined myself by the pursuit of financial independence," Sabatier, the author of "<a target="_blank" href="https://grantsabatier.com/books/financial-freedom-book/">Financial Freedom</a>," said. "Then, once I reached it, it was like, now I no longer had to do that thing, so what am I going to do? I encourage people on the path to do that inner work. Don't delay figuring out what you really want, why you're pursuing financial independence, and what you want to do after."<h2>Balancing work and fun</h2>Instead of a traditional retirement, many financially independent millennials are finding a balance between work and leisure that works for them.For Sabina Horrocks, 41, becoming a millionaire was "quite boring." She and her husband worked in six-figure managerial positions, recently achieving a net worth of about $2 million, then had a daughter in 2021. They "plowed money into investments early on," kept daily expenditures low, and purchased rental properties they eventually sold.<div type="image" title="Sabina Horrocks with her husband and kid" height="3360" width="4480" msid="110229500" hostid="261" sizebytes="534462"></div>She quit her sales operations job but has no intention of stopping work. She's a stay-at-home mom and plans to continue her blog <a target="_blank" href="https://themoneyaires.com/">The Moneyaires</a>; she'd also like to become a financial coach or planner.Blogging and coaching were common post-FI pursuits among the would-be early retirees BI spoke to. Michelle Schroeder-Gardner, 34, runs the blog <a target="_blank" href="https://www.makingsenseofcents.com/">Making Sense of Cents</a>, and over the past decade, she and her husband have lived mostly in an RV or a sailboat.By 2017, their blog, advertising sales, and a course they created called Making Sense of Affiliate Marketing had generated nearly $1.2 million in revenue. By 2018, they had achieved financial independence. After years of 100-hour workweeks, she now spends 10 hours a week on her business, which generates $600,000 a year.<div type="image" title="Husband and wife Wes and Michelle Schroeder-Gardner stood on a mountain on a sunny day." height="768" width="1024" msid="110229502" hostid="261" sizebytes="53308"></div>"I'm able to travel whenever I want. I can work whenever I want. Nothing's really dependent on my work hours," she said. "My plan is pretty much to continue doing this while I like it and continue to make a little bit more money and save as much as I can."Lauren and Steven Keys, who<a target="_blank" href="https://www.businessinsider.com/saving-investing-strategies-couple-millennials-quit-work-retire-early-2024-2"> quit their full-time jobs in their 20s</a>, have a similar outlook.Steven does freelance work for his former employer but spends much of his time on an online-tutoring service called <a target="_blank" href="https://crambetter.com/">CramBetter</a> that he cofounded in 2023. Lauren has one social-media client she works with a couple of hours a month. They also run a financial-independence blog, <a target="_blank" href="https://www.tripofalifestyle.com/">Trip of a Lifestyle</a>, and earn rental income from a fully paid-off investment property."There's this misconception about early retirement that you'll never make another penny ever again and just sit on the beach all day for the rest of your life," Steven said. "We're never going to stop making any money whatsoever."Are you part of the FIRE movement or living by some of its principles? Reach out these reporters at <a target="_blank" href="mailto:kelkins@businessinsider.com">kelkins@businessinsider.com</a> or <a target="_blank" href="mailto:nsheidlower@businessinsider.com">nsheidlower@businessinsider.com</a>.

Millennials have a fresh take on the FIRE movement, and it's less about taking it easy in retirement

<ul class="summary-list"><li>Ride-hailing drivers are reporting sub-$3 fares, often earning less than a cup of coffee per trip.</li><li>It's part of a broader trend of gig drivers saying they're seeing lower pay.</li></ul>The <a target="_blank" href="https://www.businessinsider.com/uber-lyft-florida-miami-fort-lauderdale-immigration-rideshare-driving-cuba-2024-5">Uber or Lyft</a> driver who took you from the office to a nearby restaurant downtown might not be able to even buy a cup of coffee with the money made from your trip.Eight <a target="_blank" href="https://www.businessinsider.com/job-market-slows-uber-lyft-gig-work-get-more-popular-2024-5">ride-hailing</a> and delivery drivers shared screenshots this month with Business Insider showing nearly two dozen recent trips, ranging from five minutes to 15 minutes, that paid at or below $3, excluding tips.One screenshot from a <a target="_blank" href="https://www.businessinsider.com/uber-lyft-florida-private-rides-miami-fort-lauderdale-spring-break-2024-3">Lyft driver</a> based in Arizona showed a $2.62 ride that took 15 minutes and traveled 4.32 miles. This was the amount offered to the driver on the platform before it was accepted and before tips. Similar screenshots came from drivers in Cleveland, Houston, Fort Lauderdale, and Orange County.Sergio Avedian, a gig driver and senior contributor at the gig-driver-advocacy blog and YouTube channel <a target="_blank" href="https://therideshareguy.com/">The Rideshare Guy</a>, has started encountering sub-$3 rides over the last several weeks in Los Angeles. He said many drivers across the country have written to him recently complaining about these rides, which can be unprofitable after accounting for driving expenses."These short trips actually put more wear and tear on your car than these long trips because you're braking and accelerating constantly," Avedian said, noting it's becoming increasingly rare he gets well-paying rides.For some drivers, these sub-$3 trips are a symbol of their broader frustrations with their pay. In recent months, several gig drivers have told Business Insider that driving is less profitable than it used to be and that ride-hailing giants are <a target="_blank" href="https://www.businessinsider.com/uber-drivers-feeling-squeezed-pay-after-company-hits-profit-2024-2">taking a larger cut</a> of rider fares. <a target="_blank" href="https://www.businessinsider.com/uber-lyft-doordash-drivers-earn-below-minimum-wage-tips-study-2024-5">Research</a> shows that drivers across six ride-hailing and delivery platforms earned well below the local minimum wage after accounting for expenses, even with tips included. Drivers' frustrations have led to <a target="_blank" href="https://www.businessinsider.com/uber-lyft-driver-pay-protest-valentines-day-gig-economy-california-2024-2">protests</a> and calls for <a target="_blank" href="https://www.businessinsider.com/uber-lyft-leave-minneapolis-drivers-pay-minimum-wage-earnings-ordinance-2024-3">higher guaranteed pay</a> nationwide.To be sure, gig drivers who come across a sub-$3 trip can always reject it — but many say profitable trips have become harder to come by.<h2 id="12755b03-6af8-456f-bb21-8a2c091ec5a6">$3 trips aren't worth it for many drivers</h2>The screenshots showed that the sub-$3 trips generally required drivers to drive no more than 10 minutes, including the time spent driving to the pickup location and then to the customer's destination.According to some drivers, shorter rides can be preferable if they <a target="_blank" href="https://www.businessinsider.com/how-to-make-money-uber-lyft-driverless-san-francisco-waymo-2024-2">pay more per mile</a>. But for many, the math on these rides doesn't add up.For example, a Florida-based driver sent a screenshot of a ride that paid $2.36 after deductions and required an estimated four-minute drive to the pickup location — and then an additional six-minute drive to the destination. Less than $3 in earnings for 10 minutes of work translates to almost $15 an hour, slightly above the state's $12 minimum wage.But this doesn't account for driving expenses like gas, maintenance, and depreciation that can eat into a driver's profits. In February, Lyft <a target="_blank" href="https://www.businessinsider.com/lyft-earnings-gig-driver-rider-payments-uber-hourly-pay-stock-2024-2">estimated</a> the typical driver had about $7 each hour in vehicle expenses.A customer tip can tilt the math back in the driver's favor, but they're not guaranteed. A <a target="_blank" href="https://www.businessinsider.com/how-much-tip-lyft-uber-drivers-tipping-doordash-gig-economy-2024-2">study</a> of over 500,000 US gig drivers by Gridwise, a data analytics company that helps drivers track their earnings, found that 28% of Uber and Lyft ride-hailing trips received tips.Business Insider reached out to Uber and Lyft for comment. An Uber spokesperson said that across the US, drivers are "earning more than $30 an hour while engaged on the app." They added that in states like California, where a <a target="_blank" href="https://www.businessinsider.com/uber-lyft-leave-minneapolis-drivers-pay-minimum-wage-earnings-ordinance-2024-3">minimum pay standard</a> is in effect, drivers can count on a certain level of pay.A Lyft spokesperson wrote in an email: "In Q1 of this year, the median US Lyft driver earned $31.10, including tips and bonuses per hour of engaged time. After considering estimated expenses such as gas and maintenance, that's around $24.25 per engaged hour."Earlier this year, Lyft announced it would <a target="_blank" href="https://www.businessinsider.com/lyft-earnings-gig-driver-rider-payments-uber-hourly-pay-stock-2024-2">start guaranteeing</a> drivers earn 70% of their riders' payments each week after external fees. In December, Uber said that its "take rate" — the share of ride-hailing revenue as a percentage of gross fares — is <a target="_blank" href="https://uberpubpolicy.medium.com/understanding-ubers-share-of-driver-earnings-d75c4d5f6e23">well below 20%</a> when one excludes the commercial insurance costs the company provides to drivers.To be sure, rides with bottom-of-the-barrel fares appear to be rare. Data provided to Business Insider by Gridwise showed that so far in 2024, fewer than 1% of completed US Uber and Lyft trips paid drivers below $3, excluding tips. In comparison, over 36% of Uber Eats, DoorDash, and Grubhub completed deliveries paid less than $3 before tips. However, after tips, the share of sub-$3 deliveries fell to below 2% on all three platforms.Compared to January 2023, sub-$3 trips — excluding tips — have become more common for DoorDash, Grubhub, and Uber Eats drivers and less common for Uber and Lyft drivers, per Gridwise.Gridwise noted that its earning data does not include earnings tied to promotions or minimum pay standards. Given it only included completed trips, it doesn't account for the sub-$3 trips, for example, that a driver sees and declines.<h2 id="d48b2a46-9875-4946-be7e-c6d774e09530">The $3 ride could have a future if drivers stay desperate</h2>Avedian explained that because of the oversaturation of ride-hailing drivers, desperate drivers are bound to accept these trips. He said even if he rejects a low-paying ride, it "gets snapped up immediately." Otherwise, the pay would likely increase if drivers rejected these rides since drivers would be more likely to accept a higher-paying ride."In 2024, putting a human in my car for $3 or less is asinine to me," Avedian told BI. "Gas prices in California are hitting $5.50, and to me, this goes to show how out of touch these companies are that our expenses have gone up 40%, 50%, even 80% in a lot of cases, and the fares have gone down."He said the risk-reward is "completely upside down," arguing these companies should set minimum fares of at least $5."I will reject a million of those and then turn my app off and go home," Avedian said. "I cannot run a profitable business by doing $3 trips."<h2 id="dcba71de-89c8-4700-b7f4-0e6b50f275c4">Drivers say they're seeing more sub-$3 trips</h2>Randy Scott, 46, has driven for almost six years and has over 25,000 rides on Uber and Lyft. He drives in between managing local and state political campaigns. The South Florida resident said he's recently seen more rides under $5 coming in, which he suspects is because more immigrant drivers in his area regularly accept these rides.A screenshot he shared with BI shows a ride for $2.30. From a business perspective, he said he understands why these companies would continue offering low rates if they'll always be accepted eventually."At the end of the day, people are out driving in good faith, trying to make money and work, but they don't necessarily have the knowledge to say, 'wait a minute here, they're offering me $2,'" Scott said. "There's got to be a line drawn somewhere."He said the positives of driving still outweigh the negatives, as he's developed strategies for earning about $900 gross revenue driving 50 hours a week. Every week, his strategy is different, as his area is seasonal with tourists.Still, he said even on slow days, he'll take the $4 ride as it's at least a couple of dollars, plus a tip.He said gig driving feels like the "Wild West" right now, noting that state governments should work to regulate the driver market to help drivers earn a living wage."I don't think drivers are asking for the moon," Scott said.Moises Diaz, a 41-year-old Uber and Lyft driver in California, started driving part-time in December. But May was the first month that he started seeing rides that paid roughly $3 or less, and now they're "coming in very often," he told Business Insider via email.Even for longtime drivers, the appeals of driving may not be enough to overpower the declining pay.Joe, a 53-year-old in Florida, has been driving for Uber since 2014. He asked to use a pseudonym for fear of retribution and told BI he's "never seen pay this low.""I see these sub-$3 fares at least between five to 10 times during a six-hour shift," he said.Are you a gig driver who is struggling to make ends meet? Reach out to these reporters at <a target="_blank" href="mailto:nsheidlower@businessinsider.com">nsheidlower@businessinsider.com</a> or <a target="_blank" href="mailto:jzinkula@businessinsider.com">jzinkula@businessinsider.com</a>.

Uber and Lyft drivers are seeing more trips that pay them $3 or less. They say it's another example of declining driver pay.

<ul class="summary-list"><li>Stevie Howell is an artist who has lived in LA for about five years.</li><li>She enjoys the city's creative scene and the many produce that can be grown in the area.</li></ul>This as-told-to essay is based on a conversation with <a target="_blank" href="https://mailtrack.io/link/22c1af7d529d2ac4059ccfbae59dda9a0b6b6aa7?url=http%3A%2F%2Fwww.steviehowell.com%2F&amp;userId=2243642&amp;signature=600fbe5c00dbb74c">Stevie Howell</a>, an artist and business owner who lives in Los Angeles. It's been edited for length and clarity.I moved to Los Angeles about five years ago <a target="_blank" href="https://www.businessinsider.com/the-worst-things-about-leaving-san-francisco-for-la-2024-4">from San Francisco</a>, and I previously lived in New York City and Chicago.I expected my move would be easy since I'd still be living in California — but I've been surprised that I haven't seen a lot of things in LA that I've seen in a smaller city like San Francisco. LA has many positives beyond the great weather that lets you do outdoor activities year-round. The city also attracts creativity — it's home to great design, art, and comedy. This area also has amazing produce — you can grow almost anything here, so it's lemon trees and passion fruit vines galore.But these are the five of the worst things that I've experienced while living in Los Angeles.<h2 id="da40c0b6-647d-46ff-80dc-0219f3f135d1">1. LA has horrible urban planning </h2>LA's urban planning could be so much better. Decades ago, the planners made huge mistakes that destroyed this city. They removed most of the canals that made Venice, Venice; took away the streetcars; built freeways that cut through all the low-income areas; made too many huge streets that aren't walkable and buildings that aren't human-scaled; and put strip malls everywhere instead of charming storefronts to walk by and window shop.In general, it seems as though LA doesn't value urban beauty. Beauty happens inside here, behind walls, and in private homes. I've noticed that there <a target="_blank" href="https://la.myneighborhooddata.org/2019/02/access-to-parks-and-green-space/">aren't enough green spaces</a>. LA lacks great parks compared to other cities like San Francisco and New York City. If only <a target="_blank" href="https://www.nycgovparks.org/about/history/olmsted-parks">Frederic Olmstead</a> had made a couple of trips to Southern California.Driving around LA I can see how the neighborhoods change. Some areas receive more attention and infrastructure while others don't. <h2 id="d2e0ee8d-eea1-43b3-8d1a-4eeec7790a0b">2. The city feels dull </h2>For a bustling city, life in LA can have a surprising lack of vibrancy. It doesn't feel urban the way cities like NYC or SF do — I don't feel an urban buzz or excitement.People-watching is a rarity here unless I count DIY photoshoots set up in front of pink walls. While I love overhearing the occasional <a target="_blank" href="https://www.instagram.com/overheardla/">only-in-LA style conversation</a> or hearing my neighbors practice lines in their backyard, the conversations generally involve too much talk about traffic. <a target="_blank" href="https://www.businessinsider.com/la-traffic-shows-why-we-need-transportation-revolution-2018-11">The traffic</a> makes it so hard to get places that I end up doing a lot less than I'd do in other big cities. For me, this means less going to museums, galleries, shows, talks, or even just a dinner on the other side of town. Often the same museum shows exhibited in LA will travel to other cities, and there have been times when I've missed the entire duration in LA but see it on a quick trip to NYC or Chicago. <h2 id="f666b582-1f47-4874-a451-66a16a041cb4">3. I feel isolated </h2>LA felt socially distant even before COVID and before "socially distant" was a thing. It feels like a sprawling mass of suburban enclaves next to each other. People are kind of in their own worlds, doing their own thing.It's common for me to go months without seeing my closest friends here. This is another thing that mostly has to do with traffic and how sprawling the city is — people seem to stay in their neighborhoods and homes.<h2 id="a42b68e0-e1ba-4d42-a414-ad7d90c627dc">4. Driving sucks here </h2>We all know traffic is a huge problem in LA — after all, LA is home to 11 of the top 25 worst <a target="_blank" href="https://www.latimes.com/local/lanow/la-me-ln-is-los-angeles-traffic-the-worst-20150826-story.html">traffic corridors</a> in the US. Good luck ever seeing your best friend who lives 12 miles away. Going from the east to the west side or vice versa can be excruciating, even with an arsenal of great podcasts loaded up.<a target="_blank" href="https://www.businessinsider.com/road-rage-traffic-deaths-car-crashes-pedestrians-los-angeles-vermont-2024-2">Walking isn't really an option</a> in most cases because of huge streets and extreme distances, and every time I try, I almost get hit by a driver who just doesn't expect there to be someone walking — even in a crosswalk.And on the rare day it rains, everyone forgets how to drive. A drizzle adds about double the commute time.<h2 id="6366780d-a352-43fe-af73-0acef522ea6e">5. I don't feel any sense of community </h2>I don't feel a strong <a target="_blank" href="https://www.businessinsider.com/moved-to-los-angeles-influencer-party-culture-toxic-2023-10">sense of community in LA</a>. It lacks cohesion that brings the whole city together, and I think this is why people have to work to find a sense of community.Because it's such a driving culture, I don't interact with people as much as I do in other cities I've lived in. I don't ride the subway and get to sit next to someone who lives a completely different life than I do.Because of this lack of interaction with a wider demographic range, it's hard to feel connected to the city as a whole. If you moved to a new city or state and want to share your experience, email Manseen Logan at mlogan@businessinsider.com.

I've lived in LA, San Francisco, NYC, and Chicago. I thought moving to LA would be easy, but instead I feel lonely and isolated.

<ul class="summary-list"><li>A travel planner has shared the DIY cleaning item she brings to Disney World: soap-covered sponges.</li><li>In a TikTok video, she said the cleaning tool allows her to wash reusable items like water bottles.</li></ul>If you have a <a href="https://www.insider.com/disney-magic-kingdom-attractions-ranking-2021-11">Disney vacation</a> planned in the near future, you might want to consider <a href="https://www.insider.com/what-you-need-to-pack-carry-on-easier-smoother-flight-2023-8">packing</a> cleaning supplies — specifically, soap-covered sponges.<a href="https://www.tiktok.com/@magicaltravelbymichelle?referer_url=www.insider.com%2Fpost%2Fpreview%3Fpost_id%3D64fb29d1261711ba2f62c707%26snapshot_id%3D64fb3597261711ba2f62df22%26mode%3Ddesktop%26svapi&amp;refer=embed&amp;embed_source=121355058%2C121351166%2C121331973%2C120811592%2C120810756%3Bnull%3Bembed_name&amp;referer_video_id=7273637291090873643">Michelle Johnson</a>, a travel planner at <a href="https://www.themagictravelco.com/team/michelle-johnson">The Magic Travel Company</a> specializing in Disney vacations, recently shared on TikTok that she always brings inexpensive sponges covered in dried, liquid soap on trips so she can wash water bottles, lunch boxes, and other reusable items in her hotel room.Her <a href="https://www.tiktok.com/@magicaltravelbymichelle/video/7273637291090873643" target="_blank" rel="noopener">video</a>, which she posted on September 1, has been viewed more than 2.5 million times as of Friday.Johnson says she buys sponges from the dollar store, covers them in dish soap, and then lets them dry for a few hours. Later, she chops the sponges into small squares and stores them in Ziploc bags, making the sponges easy to transport in her luggage."This just ensures that I'm not having to go to the store to buy anything extra like sponges and soap to wash things in our room," she said in her video.In a message sent to Insider, Johnson said she also brings them with her on the go. "I like to take a few into the parks for easy wipe down of quick service tables, our stroller, or just to wash my girls' hands after a Mickey ice-cream bar," she said. The Disney fan noted that her DIY sponges are also great for other vacations, like <a href="https://www.insider.com/what-to-pack-for-three-day-disney-cruise-2022-10">Disney cruises</a>.To use them, she said, you simply run each piece under water, allowing the sponges to soften and the soap to sud. Then you can use them to wash your belongings and discard of them when you're finished.Johnson — who specializes in planning Disney vacations, according to her social-media pages — frequently shares her travel hacks and preparation ideas online.In another <a href="https://www.tiktok.com/@magicaltravelbymichelle/video/7273937865699233070" target="_blank" rel="noopener">TikTok video</a> posted on September 2, she shared that she also packs "laundry bags," or larger Ziploc backs containing a single Tide Pod. "When I'm in the parks, if there's an emergency — which always happens with toddlers — all I do is throw in some water, add the shirt or the item that is all stained or needs to be washed," she said in her TikTok video. "I shake it up, break the pod, and I did my laundry really quick."And when her family returns to their hotel, she said, all she needs to do is rinse off the garment and hang it to dry.

A vacation planner shares her cheap and quick DIY travel hack for visiting Disney World: sponges filled with soap

<ul class="summary-list"><li>Jorge, an Uber and Lyft driver, focuses on tourists visiting Walt Disney World Resort for higher tips.</li><li>He has found driving during the Florida spring break rush profitable.</li></ul>Jorge, 56, said driving for <a target="_blank" href="https://www.businessinsider.com/lyft-uber-gig-driving-with-disability-stock-flexibility-part-time-2024-1">Uber and Lyft</a> amid the big <a target="_blank" href="https://www.businessinsider.com/how-much-uber-drivers-make-in-florida-lyft-gig-work-2023-11">Florida</a> <a target="_blank" href="https://www.businessinsider.com/miami-beach-spring-break-tourism-florida-weather-parking-curfews-dui-2024-3">spring break rush</a> during the last few weeks has been profitable. He's picking up and dropping off tourists visiting Walt Disney World Resort in <a target="_blank" href="https://www.businessinsider.com/how-uber-lyft-drivers-make-money-earnings-expenses-florida-2023-12">Orlando</a> on weeknights and weekends after his full-time job as an accountant.The rideshare driver, who asked to only use his first name for fear of professional repercussions, said spring break is not like the rest of the year. Jorge, who has been driving since 2016, said though summers sometimes pick up, it's difficult to maintain a steady income stream year-round, especially in colder months. Coupled with <a target="_blank" href="https://www.businessinsider.com/uber-drivers-feeling-squeezed-pay-after-company-hits-profit-2024-2">lowered fares</a> over the last few years and growing competition around <a target="_blank" href="https://www.businessinsider.com/how-group-spent-5000-disney-world-weekend-tips-bachelorette-party-2024-3">Disney World</a>, the inconsistent wages have led him to drive fewer hours."I do appreciate these platforms are there, as they provide an easy way to earn money, but I do work part-time now due to the income deterioration," Jorge told Business Insider. "Now I just go around Disney only hoping that the tips will compensate for short rides."As spring break travel picks up in hot spots such as Orlando and Miami, many drivers are shifting their schedules to put in more hours and make more tips. However, as Miami and other cities crack down on <a target="_blank" href="https://www.businessinsider.com/florida-cities-spring-break-economy-doesnt-need-them-2023-3">spring break rowdiness</a>, some drivers recently told BI they're not seeing as many passengers looking for rides.He said he's <a target="_blank" href="https://www.businessinsider.com/uber-lyft-driving-rideshare-gig-economy-worker-arizona-virginia-pandemic-2024-1">driving more hours</a> during spring break to maximize his earnings, working all day on weekends in addition to his normal weekday schedule. He said most hotels are completely filled now, while there aren't enough drivers around the airport. He said in the past few weeks, he's seen airport rides net $40, more than triple the normal rate.Jorge said he could easily make over $2,000 in total earnings during a week of spring break in 2022, though it's become harder to pull in comparable earnings this year.<h2>Learning where the customers are</h2>Jorge started driving in 2016 while working as an accountant. His office was an hour from his home, and he figured he could do a few hours of rides on his drive back.When he started, he received 75% of the passenger's pay, plus tips. He said he could easily pull in a few hundred dollars a week on top of his full-time pay, working from between 7 p.m. and 11:30 p.m.For a few years, he drove in the <a target="_blank" href="https://www.businessinsider.com/miami-things-you-should-never-do-according-to-local">Miami market</a>, where he would mainly drive professionals to and from conferences, as well as young adults on vacation. Rides in South Beach were profitable during spring break, and he would drive around casinos and other <a target="_blank" href="https://www.businessinsider.com/how-much-uber-lyft-drivers-make-freelance-shuttle-service-better-2023-11">tourist destinations</a>. He said he became good at anticipating the behavior of passengers based on where they were being picked up from and where they were going, which helped him get better tips.Jorge said many people who don't drive to work take <a target="_blank" href="https://www.businessinsider.com/uber-lyft-doordash-driving-single-parent-walmart-spark-maintenance-competition-2024-3">Uber and Lyft</a> to get around the city, as the city's public transportation can be challenging to navigate.He pivoted to driving only in touristy areas including around Disney, ensuring higher tips and more consistent rides, especially during peak tourist seasons, such as spring break."A lot of people rely on Uber and Lyft for their daily commute to work, and it's a big cost for them to pay for as a way of transportation, so usually I don't receive any tips," Jorge said. "But if you work in the Disney area, most of the people there are people on vacation, they came here to spend money, and they're very nice with their tips."In 2021, he shifted to driving full-time for <a target="_blank" href="https://www.businessinsider.com/uber-lyft-driving-single-mom-low-earners-gig-work-flexibility-2024-2">Uber and Lyft</a>, putting in 12 hours a day for six days a week. He worked full-time for a year before going back to part-time with a full-time accounting job. He noticed around this time that he was only getting about 60% of what passengers paid, he estimates.He said he values getting paid on the same day he does the work, a perk most full-time jobs don't offer, but he said he feels like many gig drivers are often neglected."It's not a fair relationship where we're giving everything and we're getting nothing back," Jorge said. "We still do it because it's an easy way to earn money, but you're selling your time, selling your assets, selling everything you have for little money.Now, he said he makes about $70 to $80 a day after <a target="_blank" href="https://www.businessinsider.com/uber-lyft-leave-minneapolis-drivers-pay-minimum-wage-earnings-ordinance-2024-3">Uber and Lyft</a> take their shares, not accounting for gas and other expenses. He's put over 400,000 miles on his car, and he estimates he's receiving less than half of what passengers pay for longer rides.<h2>Prioritizing tourists</h2>He said he stopped prioritizing airport trips, which can take over an hour with traffic and greater competition for pickups. He now focuses on rides within the various Disney parks, along with trips between the parks, hotels, and restaurants nearby. While there was virtually no wait for picking up passengers prior to the pandemic, he said driver queues had gotten very long at peak times. He said rides from Disney to the airport — which is about 16 miles — can pay as low as $12. He tries to keep rides to just a few miles in areas where he knows people tip well.He said a trip from Miami to Orlando a few years ago paid $220, or about $30 an hour there and back before gas and tolls that brought him down to about $20 an hour. Now, the same ride could pay as low as about $120, which comes out to Florida's minimum wage of $12 or below after accounting for expenses."We've all seen really bad situations happening in front of our eyes with people that we've had in our cars," Jorge said, referring to threats or car accidents. "It's risky, and there's no guarantee of nothing."To ensure high ratings, he tries to have conversations with his passengers, queues playlists for riders, and plays games with kids and their parents. He also guides passengers through the parks and advises them on how to maximize their stay. Much of his job, he said is reading people and seeing who wants to talk or stay silent. He estimates some days during spring break, he's making more money from tips than from fares."What's nice about Uber and Lyft is you get to meet so many people and sometimes you can make a difference, as I love to help people," Jorge said. "Sometimes you get tips that are three times the fare, and that makes a good day."Even though he has narrowed his focus, he said many drivers in the Orlando area aren't making enough to live comfortably. He said he wishes gig driving companies could do more to assist drivers, noting that local and state governments should step in to guarantee drivers an earnings floor. Uber and Lyft threatened to <a target="_blank" href="https://www.businessinsider.com/uber-lyft-leave-minneapolis-drivers-pay-minimum-wage-earnings-ordinance-2024-3">leave Minneapolis</a> on May 1 after the City Council voted in March to give drivers a pay raise."It doesn't make any sense to have that many drivers who are doing nothing because sometimes you can tell drivers are waiting for hours to get a ride at the airport," Jorge said. "We're providing a huge service for the state doing transportation for people so they can commute to work, so tourists can get to their destinations, while providing a safe environment."Are you a ride-hailing driver who's struggling to pay bills or has had recent success? If you'd like to share your story, reach out to <a target="_blank" href="mailto:nsheidlower@businessinsider.com">nsheidlower@businessinsider.com</a>.

A part-time Uber and Lyft driver who primarily works around Disney in Florida said spring break is very profitable, but making enough year-round is difficult

<ul><li>The Indian smartphone market has reported a decline of 3% in sales in the Q2 2023.</li><li>Vivo has emerged as the market leader in the smartphone segment in Q2.</li><li>Apple and OnePlus reported a growth of over 60% during the quarter.</li></ul> The Indian smartphone market reported a decline of 3% in Q2 2023, and the shipments in the first six months of the year have declined by 10% to 64 million units. According to a report by International Data Corporation (IDC), the Indian smartphone market shipped 64 million units in the first half of 2023, a decline of 10% compared to the first half of 2022. In Q2 2023, the Indian smartphone market shipped 34 million units, a 3% year-on-year decline, but a 10% quarter-on-quarter growth. <cmsannotation type="cmsannotation" annotationid="Customers are moving towards the premium segment" comment="subhead" text="Customers are moving towards the premium segment">Customers are moving towards the premium segment</cmsannotation> The average selling price (ASP) of smartphones increased by 13% year-on-year to reach $241 (approx. ₹19,950). While the sub-$200 (approx. ₹16,550) segment continues to dominate, its market share has declined from 70% to 65% in Q2. The $200-$400 (approx. ₹16,550-₹33,100) segment remained flat with a 22% market share. The $400-$600 (approx. ₹33,100-₹49,660) grew by 34% year-on-year to occupy a 5% market share. The premium segment, which includes smartphones above $600 (approx. ₹49,660) reported the highest increase at 75% year-on-year to reach a 9% market share. “Consumers are opting for premium offerings, driven by easy and affordable financing options. IDC expects this growth momentum to continue in the upcoming months in 2023,” said Upasana Joshi, research manager, client devices, IDC India. <cmsannotation type="cmsannotation" annotationid="5G sales receive a boost" comment="subhead" text="5G sales receive a boost">5G sales receive a boost</cmsannotation> The Indian smartphone industry sold 17 million 5G smartphones in Q2 2023, with an ASP of $366 (approx. ₹30,300). Samsung, Vivo and OnePlus dominated the 5G segment, with a combined share of 54%. In terms of devices, the iPhone 13 and the OnePlus Nord CE 3 Lite emerged as the highest selling 5G devices. <cmsannotation type="cmsannotation" annotationid="Q2 2022 smartphone market share" comment="subhead" text="Q2 2022 smartphone market share">Q2 2022 smartphone market share</cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;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 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 2023 </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 2022 </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivo </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.5% </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.4% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.7% </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.3% </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.2% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Realme </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.6% </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.5% </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-29.8% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oppo </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.0% </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.5% </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.4% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;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 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.0% </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.6% </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-39.4% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">OnePlus </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.2% </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.3% </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">61.1% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apple </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.5% </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.3% </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">61.1% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Poco </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.8% </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">76.5% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Techno </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.8% </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.6% </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">44.1% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infinix </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.5% </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.4% </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">41.1% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.7% </td><td style="border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.2% </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.8% </td></tr></tbody></table> Source: IDC <cmsannotation type="cmsannotation" annotationid="Vivo climbs the ladder" comment="subhead" text="Vivo climbs the ladder">Vivo climbs the ladder</cmsannotation> Vivo has emerged as the market leader in Q2 2023, beating Xiaomi, Realme and Samsung. Vivo recorded a market share of 16% in Q2 2023, up from 14.5% in Q2 2022, reporting a growth of 7.4%. Xiaomi, the market leader in Q2 2022 has been pushed to the fifth spot with a market share of 11%, down from 17.6% in Q2 2022. Realme dropped down a position to occupy the third position with a market share of 12.6% in Q2 2023, down from 17.5% in Q2 2022. Poco emerged as the biggest gainer, grabbing a 5% market share in Q2 2023, up from Q2 2022, an increase of 76.5%. OnePlus and Apple gained 61.1%, to grab 7.2% and 5.5% market share respectively. Apple also has the highest ASP among smartphone makers, at $929 (approx. ₹76,900). “In the upcoming festive season, the brands will try to spur consumer demand with affordable 5G launches, pre-booking offers, and loyalty/upgrade programs clubbed with festive discounts. The market requires strong double-digit growth in the next few months to see annual growth in 2023, which looks unlikely as of now," said Navkendar Singh, AVP – Devices Research, IDC. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-recover-in-july-2023/articleshow/102347978.cms">Electric two-wheeler sales recover after spending June in the pitlane</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-posts-net-profit-of-3203-cr-in-q1-2023-24-on-improved-jlr-performance/articleshow/102108825.cms">Tata Motors posts net profit of ₹3,203 cr in Q1 on improved JLR performance</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-launches-galaxy-z-fold-5-and-galaxy-z-flip-5-foldable-smartphones/articleshow/102140759.cms">Samsung heats up the foldables segment with the Galaxy Z Fold 5 and the Galaxy Z Flip 5</a>

Indian smartphone market sees a declines in Q2; Vivo in the lead

<ul class="summary-list"><li>Jen Glantz is an entrepreneur who has tried various side hustles to pass time and make money.</li><li>During the summer months, she sets an income goal and tests out side hustles to reach it.</li></ul>After getting laid off from my full-time job in the summer of 2015, I was desperate for extra cash. I decided to start my own <a href="http://www.jenglantz.com" target="_blank" rel="noopener">business</a>, but while I was building it up from scratch, I <a href="https://www.businessinsider.com/side-hustle-ideas-which-make-money-ugc-affiliate-marketing-2023-5">tried out a few side hustles</a> to make immediate money.That summer, I was able to earn enough to cover my essential bills, from my credit card to my rent, and I realized that jumping into different side gigs throughout the year could be a good way to continue to boost my income when I needed it.Since then, every year from June through September, I set a side-hustle-income goal and pick up a few different ones to test out. Here are my five go-to summer side hustles that <a href="https://www.businessinsider.com/hardest-lessons-learned-passive-income-six-figures-2023-5">don't require much experience</a> to start and that bring in good money during the hot summer months.<h2>1. Travel hacker </h2>When I first started brainstorming side-hustle ideas, I decided to try one based on one of my hobbies. I've always loved to <a href="https://www.businessinsider.com/personal-finance/how-to-budget-for-vacation">travel on a budget</a> and was great at finding deals.I started offering a service where I'd plan trips for people at 20% less than their budget. I charged a flat fee of $250 and provided each client a handful of inexpensive flight, hotel, car-rental, and activity options below the amount they'd planned to spend.I also provided them with a sample itinerary based on the type of vacation they wanted, from relaxing to adventurous, or a combination of both. I spent an average of five hours working on each client's request.Since I'm not a travel agent and don't have access to industry-special deals, I used search platforms such as <a href="https://affiliate.insider.com?h=a5cbe2151077c50e78f32795e66318eeaeb0109f1c2962d47974ffb4d6bc3650&amp;postID=6495a967458c1a2aab4e72fa&amp;site=bi&amp;u=https%3A%2F%2Fwww.hotwire.com%2Fpackages%2F" target="_blank" rel="noopener">Hotwire</a> and <a href="https://www.businessinsider.com/i-tried-skiplagging-nightmare-save-money-on-flight-tickets-2023-6">Skiplagged</a>. While my clients could've done this themselves, they paid me for the convenience.I posted about this side-hustle offering on my Facebook and asked close friends to share it on their pages. I ended up working with eight people that summer and earned $2,000 without having any business expenses to cut into that profit.<h2>2. Summer-school tutor </h2>A few years ago, on the hot summer days I wanted to stay indoors, I spent a few hours working as a <a href="https://www.businessinsider.com/how-i-turned-my-side-hustle-into-a-90000-salary-full-time-job-2018-9">summer-school tutor</a>. I posted in local Facebook groups and created a profile on <a href="http://www.tutor.com" target="_blank" rel="noopener">Tutor.com</a> where I listed my specialties as English, literature, and writing. I was matched with elementary- and middle-school kids in need of help with those subjects.I don't have a teaching background, but I have an English degree and I'm a published author. While some parents wanted a tutor with a more official background, other parents were happy with my qualifications.I charged $25 an hour and met with clients remotely instead of in person to save on travel costs. I saw some clients once, while others hired me for multiple sessions. I ended up making a few hundred dollars like this that summer.<h2>3. Professional walker </h2>Since I tend to be more active during summer, I found a few ways to get paid for my ongoing movement. I downloaded <a href="https://sweatco.in/" target="_blank" rel="noopener">Sweatcoin</a>, an app that rewards you for hitting different step goals. You earn 0.95 Sweatcoins for every 1,000 steps you take, and you can cash in these coins for different items, including phones, watches, and workout gear.I also used <a href="https://my.evidation.com/login" target="_blank" rel="noopener">Evidation</a>, an app that pays you to exercise. You get points for doing activities such as running, swimming, or biking, and for every 10,000 points you earn, you get $10.While I didn't earn a lot of money from these apps, it was motivating to know that I was getting perks just to move around and exercise.<h2>4. Pet-sit or house-sit </h2>Since a lot of people use the summer months for travel, I started offering pet- and <a href="https://www.businessinsider.com/i-quit-my-job-to-house-sit-live-rent-free-2023-3">house-sitting services</a> in 2018. I created profiles on <a href="https://affiliate.insider.com?h=deb62332439698d18e251da134ea1565aa77672fea3b9f5cad4b79fb48f943f7&amp;postID=6495a967458c1a2aab4e72fa&amp;site=bi&amp;u=https%3A%2F%2Fwww.trustedhousesitters.com%2F" target="_blank" rel="noopener">TrustedHousesitters</a> and <a href="https://affiliate.insider.com?h=21ee6347e8d2e16952e023dc3cc7085ab9cca8c49d5d85540559cf952dd902dc&amp;postID=6495a967458c1a2aab4e72fa&amp;site=bi&amp;u=http%3A%2F%2Fwww.rover.com" target="_blank" rel="noopener">Rover</a> to list my services locally. For pet-sitting, I hosted the pets in my own house.I also tapped into Facebook groups to share my services and availability. I was able to make money <a href="https://www.businessinsider.com/how-to-become-a-professional-dog-walker-what-its-like-2023-2">walking</a> dogs as well, which was great because I sometimes could walk two to three dogs on the same day to make extra cash.I charged $75 a day for pet-sitting and $25 a day for house-sitting, which usually entailed making sure the property was safe once a day and watering plants. I made a few hundred dollars that summer.<h2>5. Personal assistant</h2>A friend told me she was able to earn a few hundred dollars a month as a personal assistant for neighbors who needed help with errands and organization, so I decided to try it out.I created a flyer using <a href="https://affiliate.insider.com?h=5c9b16bfe3e2fb41319eddd04a5c4550cff0b9c86b8420d0414c4cff4a00d722&amp;postID=6495a967458c1a2aab4e72fa&amp;site=bi&amp;u=http%3A%2F%2Fwww.canva.com" target="_blank" rel="noopener">Canva</a> that listed all the things I was willing to do for people locally, from grocery shopping and returning items for them at retailers to cleaning out their closets and organizing their garages. I posted that flyer at local coffee shops and community centers. I also relied on local-community groups and word of mouth to get new clients.I charged $50 an hour for this work and asked for a five-hour weekly minimum per client. Occasionally, I'd get an odd or robust request, such as packing up a person's entire house for a move or planning a funeral for one of their relatives, and I'd ask for a higher fee.After I found one client in my apartment building, she referred me to a few of her friends. I ended up having four consistent clients for one summer and was able to earn a few thousand dollars doing this side hustle.

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Indian smartphone market sees a declines in Q2; Vivo in the lead

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