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<ul><li><keyword id="113675" type="General" weightage="100" keywordseo="nvidia" source="Orion">Nvidia</keyword> is now the world's largest company</li><li>It has surpassed <keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> </li><li>The company is ahead in the AI race</li></ul> In 2024, AI is the talk of the tech world and more and more companies are investing heavily in the emerging technology. But at the middle of the AI boom is Jensen Huang's Nvidia. And now, the company has claimed the top spot as the world’s largest company by market capitalisation, surpassing Apple in a significant shift propelled by surging demand for AI technology. <h2><keyword id="23825488" type="General" weightage="20" keywordseo="nvidia-overtakes-apple" source="Orion">Nvidia overtakes Apple</keyword> as world's largest company </h2> On Tuesday, Nvidia’s market cap hit $3.43 trillion, narrowly edging out Apple’s $3.38 trillion valuation. This milestone follows Nvidia’s previous brief leap over Apple in June, highlighting the fierce competition between these tech giants. <div type="Article" hostid="261" msid="114040583" title="I talked to an AI-powered NPC thanks to Nvidia! True to her character, she surprised me with her princess attitude" mstype="2" mssubtype="0"></div> According to a report in IANS, CEO Jensen Huang attributed the company’s rapid growth to the strong demand for its Hopper chips and anticipation for the upcoming Blackwell generation. These chips power AI research and data-heavy applications globally, solidifying Nvidia’s role in modernising data centres and expanding computing power. "Hopper demand remains strong, and the anticipation for Blackwell is incredible,” Huang said and added, “Nvidia achieved record revenues as global data centers are in full throttle to modernise the entire computing stack with accelerated computing and generative AI.” Nvidia’s revenue figures back its impressive rise. In the second quarter ending July 28, the company reported a 15% quarterly growth and a massive 122% increase year-over-year, reaching $30 billion in revenue. For fiscal 2025, the outlook remains strong, with expected third-quarter earnings of around $32.5 billion. The company has also returned $15.4 billion to shareholders in the form of buybacks and dividends during the first half of fiscal 2025, maintaining a solid position of $7.5 billion left under its share repurchase plan. <h2>Why is Nvidia ahead in the AI race? </h2> The company has been a frontrunner in the AI race as it makes advanced computer chips that power AI technologies. These chips are essential for running complex AI tasks, like training large language models (e.g., ChatGPT) and supporting advanced data processing in data centres. Nvidia’s GPUs (graphics processing units) are particularly good at handling many tasks at once, making them ideal for AI work. While other companies also make computer chips, Nvidia’s focus on innovation in AI hardware has allowed it to stand out and stay ahead of the competition. <div type="Article" hostid="261" msid="113902265" title="Nvidia’s ChatRTX could be your alternative to ChatGPT for reading long documents, and it doesn’t need an internet connection" mstype="2" mssubtype="0"></div> On a related note, Apple has also made strides in the market with its smaller-scale AI efforts like Apple Intelligence, which was rolled out to users recently. Microsoft, another major contender, holds a market cap of $3.06 trillion and remains a strong player in the tech landscape.

Nvidia becomes world's largest company amid AI boom, surpasses Apple in the race

<ul><li>The worldwide <keyword id="21407807" type="General" weightage="20" keywordseo="tablet-market" source="keywords">tablet market</keyword> has reported growth for the third consecutive quarter in Q3 2024.</li><li>39.6 million tablets were shipped worldwide during Q3 2024.</li><li>Apple and Samsung continued to dominate the market, with a combined market share of nearly 50%.</li></ul> Worldwide <keyword id="1462107" type="General" weightage="20" keywordseo="tablet-shipments" source="Orion">tablet shipments</keyword> continued to record good growth for the third consecutive quarter after over two years of decline. Tablet shipments recorded a year-on-year growth of 20.4% in Q3 2024, after reporting a 22.1% year-on-year growth in Q2 2024. According to a report by IDC, 39.6 million tablets were shipped worldwide in Q3 2024, up from 32.9 million devices shipped in Q3 2023. While the tablet market is not expected to reach the levels recorded during the pandemic with an increase in online education and work-from-home, the increase in shipments is part of a refresh cycle. "There are several appealing opportunities for vendors to increase their presence in the tablet market - collaboration with educational institutions, entertainment and gaming, cross-device connectivity, integrations in healthcare and many more,” said Anuroopa Nataraj, senior research analyst, IDC Mobility and Consumer Device Trackers. <h2>Amazon records the highest growth</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2023 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apple </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.6 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.4 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.61% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.1 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.33% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amazon </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.6 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">109.10% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Huawei </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.3 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.3 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">43.48% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lenovo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.6 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.38% </td></tr></tbody></table> Units in millions, Source: IDC Apple, which currently leads the market reported a 1.61% growth in shipments from 12.4 million units in Q3 2023 to 12.6 million in Q3 2024. As per the report, the new iPad Pro performed below expectations due to its pricing. Samsung has emerged second with 7.1 million units shipped in Q3 2024, up from 6 million units shipped in Q3 2023, recording a growth of 18.33%. Amazon is back in the top five, occupying the third position with 4.6 million devices shipped in Q3 2024, up from 2.2 million devices shipped in Q3 2023, recording a 109.1% growth, making it the company to record the highest growth. Huawei shipped 3.3 million units in Q3 2024, up from 2.3 million units in Q3 2023, recording a 43.48% growth in shipments. Lenovo reported a decent increase in shipments at 15.38%, shipping 3 million units in Q3 2024, up from 2.6 million during the same period last year. <h2>Apple and Samsung occupy nearly 50% market share</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024 market share </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apple </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.70% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.90% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amazon </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.60% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Huawei </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.20% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lenovo </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.60% </td></tr></tbody></table> Source: IDC The tablet market is currently dominated by Apple and Samsung. The two companies hold a combined market share of nearly 50%. “Recent innovations in AI have begun to attract consumers willing to pay a premium price. As AI features and applications grow, more consumers will prioritise these advanced capabilities in their next purchase,” Nataraj added. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-announced-with-snapdragon-8-elite-6000mah-battery-and-more/articleshow/114842638.cms">OnePlus 13 announced with Snapdragon 8 Elite, 6,000mAh battery and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-up-3-in-q3-vivo-leads-the-market/articleshow/114840345.cms">Indian smartphone shipments up 3% in Q3, Vivo leads the market</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-november-2024/slidelist/114836760.cms">Upcoming smartphones launching in India in November 2024</a>

Worldwide tablet shipments grow by 20.4% in Q3 2024, Apple leads with over 31% market share

<ul><li>The <keyword id="23759938" type="General" weightage="100" keywordseo="Indian-smartphone-shipments" source="keywords">Indian smartphone shipments</keyword> recorded a 3% growth in Q3 2024 ahead of the festive season.</li><li>Vivo has emerged as the top smartphone maker in terms of market share, while Samsung leads in value.</li><li>The share of 5G smartphones in overall shipments has crossed 80%.</li></ul> Indian smartphone shipments have received a boost in Q3, recording a 3% year-on-year growth, which will come as a relief to smartphone makers after a<a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms"> subdued Q2</a> which saw a year-on-year decline of 2%. According to a report by Counterpoint Research, while the shipments have only increased by 3%, the value has recorded a 12% year-on-year growth to reach an all-time record for a single quarter. “The market is increasingly shifting toward value growth, fueled by a premiumisation trend, which, in turn, is supported by aggressive EMI offers and trade-ins,” said Prachir Singh, senior research analyst, Counterpoint Research. The increase in the value of smartphones is being driven by a trend of premiumisation, with Indian consumers moving towards premium smartphones, something which has been happening for the last few quarters. <h2>Indian <keyword id="23759941" type="General" weightage="20" keywordseo="smartphone-market-share" source="keywords">smartphone market share</keyword> Q3</h2><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2023 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">19.4% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.9% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.7% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.6% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.8% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.2% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oppo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.4% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.8% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Realme </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.3% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.4% </td></tr></tbody><tbody></tbody></table> Source: Counterpoint Research After emerging as a close second during Q2 2024, Vivo has now emerged as the top smartphone maker in Q3 2024, recording a 19.4 market share, up from 15.9% in Q3 2023. Xiaomi’s market share has remained flat and it continues to occupy the second position with a 16.7% market share in Q3 2024, up from 16.6% in Q3 2023. Samsung has recorded a decline in its market share, reporting a 15.8% market share in Q3 2024, down from 17.2% recorded in Q3 2023. Oppo holds the fourth spot, with a significant increase in market share, from 9.8% in Q3 2023 to 13.4% in Q3 2024. Realme has recorded a decline, with its market share decreasing from 14.4% in Q3 2023 to 11.3% in Q3 2024. <h2>Smartphone market value share</h2><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2023 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.8% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.6% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apple </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.6% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.8% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.5% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.4% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oppo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.8% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.6% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.7% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.2% </td></tr></tbody><tbody></tbody></table> Source: Counterpoint Research Samsung has emerged as the leader when it comes to market value, recording a 22.8% share, up from a 22.6% share in Q3 2023. “Samsung currently leads the market in terms of value with a 23% share. The brand has been prioritizing its flagship Galaxy S series and enhancing its value-driven portfolio. Samsung is also integrating Galaxy AI features into its mid-range and affordable premium models in the A series, encouraging consumers to upgrade to higher price segments,” Singh said. <div type="Article" hostid="261" msid="114428011" title="UPI refund to digital arrest scam, here are some online scams you need to be aware of" mstype="2" mssubtype="0"></div> Apple has emerged second, with a 21.6% share in market value, down from 21.8% in Q3 2023. “The brand has aggressively expanded into smaller cities, driving significant value growth with an increased focus on newer iPhones. Strong shipments of the iPhone 15 and iPhone 16 ahead of the festive season have further enhanced Apple's performance, Singh added. <h2>5G smartphones record new high</h2>5G smartphones have achieved a new record in share at 81% of overall shipments in Q3 2024. This has been driven by the reduction in the average selling prices (ASPs) of 5G smartphones. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oxygenos-15-announced-key-features-eligible-devices-and-all-you-need-to-know/articleshow/114575643.cms">OxygenOS 15 announced – key features, eligible devices and all you need to know</a> <a href="https://www.businessinsider.in/tech/news/apple-is-hiring-400-employees-in-india-roles-how-to-apply-and-all-you-need-to-know/articleshow/114570315.cms">Apple is hiring 400 employees in India – roles, how to apply and all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/snapdragon-8-elite-announced-to-power-iqoo-13-oneplus-13-xiaomi-15-series-and-more/articleshow/114463844.cms">Snapdragon 8 Elite announced, to power iQOO 13, OnePlus 13, Xiaomi 15 series and more</a>

Indian smartphone shipments up 3% in Q3 – Vivo leads the market but Samsung wins the value game

The <keyword id="20143656" type="General" weightage="20" keywordseo="turnover" source="keywords">turnover</keyword> of India's automotive component industry registered a <keyword id="19910261" type="General" weightage="20" keywordseo="growth" source="keywords">growth</keyword> of 9.8 per cent in the financial year 2023-24, according to the Automotive Component Manufacturers Association of India (<keyword id="20475655" type="General" weightage="20" keywordseo="ACMA" source="keywords">ACMA</keyword>). The turnover stood at Rs 6.14 lakh crore (USD 74.1 billion) during the year, said the ACMA, the body representing India's auto component manufacturing industry, in its review for the fiscal year 2023-24, as per a release. <keyword id="20373789" type="General" weightage="20" keywordseo="shradha-suri-marwah" source="keywords">Shradha Suri Marwah</keyword>, President, ACMA, and CMD, Subros, said that apart from an increase in <keyword id="21825714" type="General" weightage="20" keywordseo="vehicle-production" source="keywords">vehicle production</keyword>, higher value addition from the component sector has led to growth in the auto components sector. "On the front of trade, whilst overall merchandise <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> from India witnessed degrowth in FY24, auto component exports have grown despite geopolitical challenges and an increase in logistics costs," Marwah said. Elaborating on the mood of the industry and outlook for the near future, Marwah mentioned, steady growth in the vehicle industry has resulted in the industry reaching pre-pandemic levels of performance in 2023-24 in most segments, however, the first quarter of FY25 witnessed somewhat slower offtake in <keyword id="20051501" type="General" weightage="20" keywordseo="vehicle-sales" source="keywords">vehicle sales</keyword>, especially in passenger vehicles and commercial vehicles, given the high base, due to inclement weather conditions and elections. "With strong macro-economic indicators, conducive government policies, and over 7 per cent growth projected for the Indian GDP, we are hopeful that the auto components industry will continue to perform well in 2024-25," Marwah added in the release. Following are some of the key findings of the ACMA Annual Industry Performance Review: Auto component sales to Original Equipment Manufacturers (OEMs) in the domestic market were at Rs 5.18 lakh crore (USD 62.4 billion), growing 8.9 per cent compared to the previous year. Consumption of increased value-added components, a thrust on localisation, and a shift in market preference towards larger and more powerful vehicles contributed to the increased turnover of the auto-components sector. Exports of auto components witnessed growth of 5.5 per cent to Rs USD 21.2 billion in 2023-24 in contrast to USD 20.1 billion in 2022-23. North America accounted for 32 per cent of exports. Europe accounted for another 33 per cent and Asia for 24 per cent, respectively. Exports to Europe grew by 12 per cent while to Asia remained flat. The key export items included drive transmission and steering, engine components, body and chassis, suspension and braking systems. Component imports grew by 3.0 per cent in 2023-24 to USD 20.9 billion from USD 20.3 billion in 2022-23. Further, increased vehicle movement and a surge in demand for used vehicles led to buoyancy in the aftermarket across all segments. The turnover of the aftermarket in 2023-24 stood at Rs 93,886 crore (USD 11.3 billion) compared to Rs 85,333 crore (USD 10.6 billion) in the previous year. The aftermarket, with an increase in e-commerce, is witnessing enhanced penetration, especially in the hinterland, and a gradual evolution into the organised sector. (ANI)

Indian auto component industry turnover grows 9.8% in 2023-24; outlook positive: ACMA review

The global semiconductor industry is heading into a strong recovery phase, with revenue anticipated to reach $630 billion in 2024, a 19% rise over the previous year, as noted by the latest <keyword id="21638387" type="General" weightage="20" keywordseo="Gartner-report" source="keywords">Gartner report</keyword>. This growth trend follows a challenging 2023 and appears to be set for continued momentum, with projections estimating an additional increase to $717 billion by 2025. The boost comes as <keyword id="20176122" type="General" weightage="20" keywordseo="AI-technologies" source="keywords">AI technologies</keyword>, data-processing advancements, and a return in electronics manufacturing drive market demand. AI-related chips, in particular, have become essential as applications expand across sectors—from high-performance computing to everyday consumer electronics. As a result, memory components such as <keyword id="23726596" type="General" weightage="20" keywordseo="NAND-flash" source="keywords">NAND flash</keyword> and DRAM are experiencing increased demand, addressing more specialised computing needs and supporting AI-intensive workloads. Gartner highlights that NAND flash, essential in AI systems, is set to see significant gains, with a 12% revenue increase by 2025, driven partly by persistent undersupply and soaring demand in AI applications. The demand surge is similarly benefiting GPUs, which are vital to AI development, particularly in model training and deployment. After experiencing a dip in 2023, the <keyword id="23292216" type="General" weightage="20" keywordseo="GPU-market" source="keywords">GPU market</keyword> is expected to rebound strongly, potentially growing by 27% in 2025 and reaching $51 billion. The specialised memory segment, especially high-bandwidth memory (HBM), has also seen increased investment to support the high-capacity needs of modern AI hardware, with manufacturers scaling production and enhancing memory packaging. DRAM is also seeing a resurgence, driven by the production of high-bandwidth memory and rising adoption of DDR5 technology, which offers faster and more efficient data processing. Analysts note that these advances are contributing to a recovery for DRAM, with revenues projected to rise from $90.1 billion in 2024 to $115.6 billion by 2025, as supply issues ease and technology progresses. This robust growth in semiconductors reflects the sector’s adaptation to AI and data-processing needs, as memory technologies evolve to match these rising demands. While the market for automotive and industrial applications has seen slower growth, the trajectory in consumer electronics and AI-powered solutions keeps the semiconductor industry on track for a dynamic, technology-driven period of expansion. With AI, memory technologies, and GPU enhancements leading the way, the semiconductor market appears well-positioned for sustained growth. (With ANI inputs)

Global semiconductor sector expected to grow due to AI demand, new report says

<ul class="summary-list"><li>Reddit stock surged 42% Wednesday to trade at a record high after reporting a strong earnings beat.</li><li>Reddit's revenue jumped 68% from a year ago, partly helped by licensing deals with OpenAI and Google.</li></ul>Reddit stock soared 42% to close at an all-time high of $116.03 per share on Wednesday afternoon after the company reported a strong earnings beat.A few months ago, investors appeared wary of Reddit's ability to compete on AI. Now, the platform's AI licensing deals are helping fuel its biggest quarterly revenue growth in two years and driving its stock to new records. On Tuesday, the company reported net income of $29.9 million, flying past expectations of an $8.8 million loss. It marks just the third profitable quarter for the company.Reddit's revenue jumped 68% from a year ago to $348.4 million. Part of that huge jump comes from its strong suite of <a target="_blank" href="https://www.businessinsider.com/google-train-ai-model-crazy-subreddit-posts-reddit-licensing-deal-2024-2">licensing deals</a> with OpenAI and Google, which are reflected in the $33.2 million of "other revenue" for the third quarter.That revenue category grew 547% year over year and now accounts for over 9% of the company's overall revenue, up from less than 1% last year.The company's licensing deals allow AI giants to train their models on the platform, which has become an increasingly competitive landscape. CEO Steve Huffman previously said Reddit is well-positioned amid an intense <a target="_blank" href="https://www.businessinsider.com/reddit-ceo-platform-arms-race-ai-training-steve-huffman-2024-10">"arms race" for AI training</a>.The company is also innovating in AI via language translation, which it's piloting in French, Huffman said during the earnings call. The move has helped drive more users to the site, he said."This quarter, machine translation drove four times more users than last quarter, and based on the success we've seen so far, we plan to expand machine translation to over 30 countries through 2025," Huffman added.The company added over 24 million daily users in the first three quarters of the year, already surging past the 15.6 million added in total last year, which has provided a huge boost to its ad business, too. Advertising revenue is forecast to surpass $1 billion for the year for the first time.Analysts say the company's ad and AI innovation are reasons for continued optimism on the stock."Revenue beat street expectations by 11%, dispelling fears around user growth sustainability, while displaying improved monetization via ad product innovation and AI-driven enhancements," Deutsche Bank analysts said in a Wednesday note."Looking forward, Reddit is expected to re-launch its Search tool in the coming quarters, which given the success of competing Gen AI-driven search tools, could drive another lever in monetization growth," they added, raising their price target on the stock from $85 to $115.Analysts are now expecting $113 million in profits next year, up from previous consensus estimates of just $17.5 million, according to FactSet data.

Reddit skyrockets 42% on strong earnings beat and AI-driven growth

<ul class="summary-list"><li><keyword id="19935006" type="General" weightage="100" keywordseo="Guyana" source="keywords">Guyana</keyword>, the tiny South American nation, plans to give $500 to every citizen aged 18 and over.</li><li>Its president said the <keyword id="21044249" type="General" weightage="20" keywordseo="cash-payments" source="keywords">cash payments</keyword> aim to narrow disparities and help with higher living costs.</li></ul>The world's fastest-growing economy is giving the equivalent of $500 to each of its adult citizens as it works to share its newfound oil wealth and soften the sting of higher living costs. President <keyword id="21170274" type="General" weightage="20" keywordseo="Mohamed-Irfaan-Ali" source="keywords">Mohamed Irfaan Ali</keyword> of Guyana, the South American country with just 800,000 people, announced the move last week and said his government would begin distributing the cash immediately. He previously said each household would receive the Guyanese-dollar equivalent of $1,000, but switched to an individual payment after locals raised concerns about how a household would be defined and how the money would be shared within each home. "This is how we are promoting prosperity, ownership, distribution of wealth," Ali said. "This is how the resources and revenue of this country are being spent every single day to lift the lives of people, to expand national wealth, coastal wealth, and community wealth." Guyanese authorities have taken other steps to combat the rising cost of living, the post noted. They've removed more than 200 taxes and fees, including the excise tax on fuel and VAT on water, electricity, and some basic foods. They also gave a one-time, tax-free grant worth about $120 a person to a group that included teachers and public servants last year. Nicolas Suarez, a senior economist at S&amp;P Global Market Intelligence who covers Latin America, told Business Insider the original plan would "increase the average household's disposable income, alleviating some budget constraints." He estimated the initial program's scale at 1.5% of national GDP and 7.9% of Guyana's Natural Resource Fund, which officials set up in 2019 to prudently manage the country's oil revenues. The scale of the updated plan is less clear. World Health Organization data suggests there are about 711,000 Guyanese aged 15 and over, so if we assume the 18+ population is 660,000 people and all of them receive $500 each, the program could cost $330 million —not far off the government's estimate of $290 million for the original household payout. "In the short term, this measure could boost private consumption growth, but it may not ease <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword>ary pressures," Suarez said about the previous plan. "On the contrary, higher government expenditures could lead to significant inflationary pressures over the next 12 months." He noted that inflation in Guyana has climbed from a pre-pandemic average of 2.3% a year to 3.3% in August. He noted that <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/investing/what-is-inflation">inflation</a> in Guyana has climbed from a pre-pandemic average of 2.3% a year to 3.3% in August. <h2>Riding an oil wave</h2>Guyana, an English-speaking former colony that gained independence from Britain in 1966, borders Venezuela to the west, Brazil to the south, and Suriname to the east. Its natural resource fund is similar to <a target="_blank" class="" href="https://www.businessinsider.com/norway-sovereign-wealth-fund-to-dump-russian-assets-ukraine-invasion-2022-2">Norway's oil fund</a>, set up in the 1990s to invest profits from the Scandinavian nation's oil-and-gas sector, protect the economy from fluctuations in energy revenues, and serve as a financial reserve and long-term savings plan for Norwegians. Norway's gas-powered sovereign wealth fund has helped to make it one of the world's wealthiest countries with an estimated population of 5.5 million and a GDP per capita of about $88,000 last year, according to World Bank data. Its oil fund held over $1.7 trillion of assets at the end of June, or more than $300,000 per Norwegian citizen. <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/warren-buffett-chevron-hess-guyana-oil-economy-berkshire-hathaway-stock-2023-10">Exxon</a>, which has discovered an estimated <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/oil-market-outlook-opec-price-cuts-us-crude-production-guyana-2023-12">11 billion barrels of oil equivalent</a> off Guyana's coastsince 2015, forecasts the country will produce about 1.3 million barrels a day once the company's six projects are online in 2027. That amount rivals Qatar's current output and would rank Guyana among the world's 20 largest oil producers. Guyana ramped up production to more than 600,000 barrels a day earlier this year, fueling roughly 50% <a target="_blank" class="" href="https://www.businessinsider.com/oil-market-guyana-economy-crude-production-outlook-opec-price-cuts-2023-12">GDP growth</a> in the first half and putting Guyana on track to grow about 43% this year, Ali said in an August webcast. Real GDP soared by about 62% in 2022 then 33% in 2023, while GDP per capita has surged from $7,000 in 2020 to around $26,000 this year, International Monetary Fund data shows. <h2>Sharing the wealth</h2>Guyana's payment to its people "sounds like great news," Karl Widerquist, a philosophy professor at Georgetown University-Qatar and the author of several books about universal basic income (UBI) told BI. He described the one-time distribution as "basic capital" or a "stakeholder grant" instead of a basic income, but said "it's a big step in that direction if they go through with it." UBI typically refers to a recurring cash payment made to every individual in a society regardless of their wealth, with no restrictions on <a target="_blank" class="" href="https://www.businessinsider.com/how-people-spend-universal-basic-income-ubi-food-housing-transportation-2024-4">how the money is spent</a> and no requirement to pay it back. Proponents hail it as a safety net against poverty that relieves financial strain and frees people to change jobs, start businesses, and weather periods of bad luck without stressing about paying their bills. Guyana's one-off, unconditional cash grant is a "positive step," Cleo Goodman, the basic income lead at the Autonomy Institute think tank, told BI. "This is a welcome injection of cash for citizens." However, she noted a guaranteed, regular income would be a "much more comprehensive commitment to redistributing this newfound wealth." Guyana was colonized by the Netherlands before Britain gained control in the late 18th century. The nation, which shares borders with Venezuela, Brazil and Suriname, became independent in 1966. Correction: October 18, 2024 — An earlier version of this story mistakenly reported an outdated version of the policy. Guyana announced Wednesday it had decided to give the equivalent of $500 to every adult, rather than a higher amount to each household as previously planned. The story also misstated the value of the previously announced figure in US dollars. It was $1,000 a household, not $2,000.

This tiny country says it will give $500 to every adult as an Exxon oil boom supercharges its economy

<ul><li>The sale of cars declined in Q2 as per <keyword id="22385027" type="General" weightage="20" keywordseo="SIAM-data" source="keywords">SIAM data</keyword>.</li><li>Good carriers and <keyword id="22337322" type="General" weightage="20" keywordseo="light-commercial-vehicles" source="keywords">light commercial vehicles</keyword> also reported a decline in Q2.</li><li>Two-wheeler sales continued to grow, with both scooters and motorcycles reporting growth.</li></ul>Sales of cars in the country saw a significant decline in the second quarter of FY25, as highlighted by the latest sales data released by the Society of Indian Automobile Manufacturers (SIAM) on Monday. The slowdown in sales was not limited to passenger cars alone. There has also been a decline in sales of <keyword id="23540336" type="General" weightage="20" keywordseo="goods-carriers" source="keywords">goods carriers</keyword>, which dropped by 15.8% during the same period. In the second quarter of this year, 69,514 goods carriers were sold, down from 82,538 units in the corresponding period last year. <div type="Article" hostid="261" msid="113925972" title="September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors" mstype="2" mssubtype="0"></div> Light commercial vehicles (LCVs) also experienced a notable dip in sales. The segment saw a decline of 10.2% in the second quarter of FY25 compared to the previous year. Between July and September 2024, 1,26,370 light commercial vehicles were sold, compared to 1,53,927 units in the same period last year. This drop across different segments of the auto industry reflects the challenges the sector faces during the current fiscal year. Two-wheeler sales showed a more positive trend. Scooter sales recorded a growth of 16.9% in the second quarter, with a total of 18.32 lakh units sold compared to 15.67 lakh units in the same period last year. Motorcycle sales also increased by 10.2%, reaching 32.09 lakh units compared to 29.13 lakh units in the year-ago quarter. On the other hand, the electric rickshaw (E-rickshaw) segment saw a sharp decline in sales. E-rickshaw sales dropped by 30.7% in the second quarter, with only 7,227 units sold compared to 10,430 units in the same quarter last year. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/hyundai-ipo-review-everything-you-need-to-know-about-indias-biggest-ipo/articleshow/114203740.cms">Hyundai IPO review – Everything you need to know about India’s biggest IPO</a> <a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms">The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-series-allows-users-to-wirelessly-restore-the-firmware-using-an-iphone-or-ipad/articleshow/113455048.cms">iPhone 16 series allows users to wirelessly restore the firmware using an iPhone or iPad</a>

Substantial drop in sales of cars, goods carriers and light commercial vehicles in Q2: SIAM

<ul class="summary-list"><li>Disney's stock rose 8% Thursday after upbeat earnings and a rare three-year guidance update. </li><li>The company beat estimates for revenue and earnings-per-share. </li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/dis-stock">Disney</a> stock shot up 8% on Thursday after the entertainment giant reported earnings that beat estimates and surprised investors with guidance that gave a strong outlook for the next three years. The stock traded 8.4% higher around 10:45 a.m. ET, at $111.05 a share.The company beat revenue estimates for the third quarter, reporting $22.57 billion, versus estimates of $22.45 billion. Earnings per share came in at $1.14 versus estimates of $1.10.The outlook provided to investors was also a big highlight of the report. The guidance update is rare for Disney, which usually doesn't provide forward earnings forecasts. The three-year timeframe is also significant, since most companies rarely make forecasts further out than one year, and many don't provide guidance at all. The company forecasts high single-digit earnings-per-share growth for the next fiscal year and an $875 million increase in operating income for its streaming division. For the 2026 and 2027 fiscal years, the company projects double-digit earnings growth."Thanks to the significant progress we've made, we have emerged from a period of considerable challenges and disruption well positioned for growth and optimistic about our future," CEO Bob Iger said in a statement.The company's streaming unit—which includes <a target="_blank" href="https://www.businessinsider.com/guides/tech/disney-plus-price">Disney+</a>, ESPN+, and Hulu—saw a quarterly profit of $321 million, far outpacing a loss of $387 the year prior.The profits follow years of heavy investment amid a tense <a target="_blank" href="https://www.businessinsider.com/netflix-earnings-winning-streaming-wars-not-even-close-2024-1">streaming war</a> with competitors like <a target="_blank" href="https://www.businessinsider.com/netflix-wins-streaming-wars-this-chart-shows-why-2024-1">Netflix</a>, Max, and Paramount+.Its TV networks, meanwhile, comprised of ABC and cable channels like the Disney Channel and Freeform, saw profits fall 38% to $498 million, while revenue dropped 6% to $2.5 billion.The company's theme park and cruise profits also slowed, falling 6% from the year before to an operating income of $1.66 billion amid rising costs after launching two <a target="_blank" href="https://www.businessinsider.com/disney-cruise-line-expanding-new-ships-private-destination-2024-8">new cruise ships</a>, plus slowing foot traffic at international parks like Disneyland Paris.Spending and attendance at US parks remained strong, though, the company said.Bank of America analysts maintained their bullish outlook for the stock following the report. They reiterated their "buy" rating and $120 price target, which would represent almost 8% upside from current levels. "DIS has a collection of best-in-class premiere assets (in content/IP as well as Theme Parks). Near term catalysts include: 1) profitability inflection in DTC and 2) reacceleration in parks business," Bank of America analyst Jessica Reif Ehrlich wrote in a note.

You Searched For "Positive growth" and got 9 results

Nvidia becomes world's largest company amid AI boom, surpasses Apple in the race

Divyanshi Sharma

Worldwide tablet shipments grow by 20.4% in Q3 2024, Apple leads with over 31% market share

Sourabh Jain

Indian smartphone shipments up 3% in Q3 – Vivo leads the market but Samsung wins the value game

Sourabh Jain

Indian auto component industry turnover grows 9.8% in 2023-24; outlook positive: ACMA review

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