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India is resolved to lead the world in 6G, communications minister <keyword id="19999763" type="General" weightage="20" keywordseo="Jyotiraditya-Scindia" source="keywords">Jyotiraditya Scindia</keyword> said on Tuesday, terming the <keyword id="20434665" type="General" weightage="20" keywordseo="telecom-sector" source="keywords">telecom sector</keyword> of the country as 'aggressive' and 'ambitious'. Scindia, speaking at the inauguration of <keyword id="21058244" type="General" weightage="20" keywordseo="India-Mobile-Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="India Mobile Congress" meta.hostid="153" meta.entityid="India Mobile Congress">India Mobile Congress</keyword> and World Telecommunication Standardization (WTSA) 2024, said with the <keyword id="22506536" type="General" weightage="20" keywordseo="Bharat-6G-Alliance" source="keywords">Bharat 6G Alliance</keyword>, India hopes to contribute at least 10 per cent patents to 6G standardisation. "It is our belief and our commitment -- India followed the world in 4G, we marched with the world in 5G, but we shall lead the world in 6G," the minister asserted. With the fastest <keyword id="20366727" type="General" weightage="20" keywordseo="5G-rollout" source="keywords">5G rollout</keyword> in India wherein 98 per cent of districts and 90 per cent of all villages were covered in a span of just 21 months, Scindia said it is the Prime Minister Narendra Modi's effort of not just embracing, but bracing the country to become the first-mover in 6G technology. "It is noteworthy that the Indian Mobile Congress and the International 6G Symposium demonstrates both local and global advancements in 6G, and also design principles that will shape the future of telecom," he further said. The recent changes to the <keyword id="22077688" type="General" weightage="20" keywordseo="Telecommunications-Act-2023" source="keywords">Telecommunications Act 2023</keyword> have been designed in such a way so as to modernise India's telecom framework, drawing light upon hitherto unaddressed areas such as the high potential sector of <keyword id="21282723" type="General" weightage="20" keywordseo="satellite-communications" source="keywords">satellite communications</keyword>, addressing the challenges of the digital era, the most important being <keyword id="20080676" type="General" weightage="20" keywordseo="cyber-security" source="keywords">cyber security</keyword>, Scindia said. "The telecom sector, much like other growth-critical sectors in India, is aggressive, is ambitious, and its outlook in our journey from Amrit Kaal to Shatabdi Kaal is to lead the world," he said. India Mobile Congress (IMC) is an annual event organized by the Department of <keyword id="20204336" type="General" weightage="20" keywordseo="telecommunications" source="keywords">Telecommunications</keyword> (DoT) and the Cellular Operators Association of India (COAI). IMC 2024 will see participation from over 400 exhibitors, nearly 900 startups, and participation from 120+ countries. About 3,200 delegates from over 160 countries are part of the WTSA assembly. "We are confident that this (WTSA), along with the Indian Mobile Congress in its 8th edition... will serve as a breeding ground for innovation, but also showcase India's impending but inevitable emergence as a global hub for telecommunications across the world," Scindia said.

India set to lead global 6G revolution: Telecom Minister Jyotiraditya Scindia

India’s electric vehicle (EV) sector, often seen as a key player in the country’s clean energy transition, has been called “irrelevant” without government <keyword id="20231384" type="General" weightage="20" keywordseo="incentives" source="keywords">incentives</keyword> by a recent Bernstein research report. The report highlights the serious challenges automakers face in achieving profitability and scaling operations in the EV segment, which remains heavily reliant on financial support from the government. <h2>Struggling to achieve profitability</h2>The Bernstein report reveals that generating profitable margins in the Indian EV sector is proving to be an uphill battle for automakers. “It is tough to generate sufficient margins and get scale in EVs. Even with hefty incentives, incumbent OEMs are still unprofitable,” the report stated. This underscores the fact that even with <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> aimed at promoting <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>, automakers are struggling to make EVs financially viable. High production costs, limited infrastructure, and relatively low consumer demand all contribute to this issue. Traditional automakers, particularly in India’s two-wheeler market, are facing significant financial losses. According to Bernstein, while some niche startups may survive, their long-term market share will likely remain limited, and competition will primarily be between established original equipment manufacturers (OEMs). The key challenge for these OEMs is achieving the scale and cost reductions required to compete with the well-entrenched internal combustion engine (ICE) sector. <h2>Reliance on incentives</h2>One of the most striking conclusions from Bernstein’s analysis is the deep reliance of the EV sector on government subsidies. Without these incentives, the <keyword id="19952060" type="General" weightage="100" keywordseo="EV-Industry" source="keywords">EV industry</keyword> would be unable to compete with traditional ICE vehicles. “The EV Industry is not relevant without incentives currently, and to break the ICE sector, it needs intense focus, scale, and continued cost downs,” the report emphasised. This indicates that while government schemes like GST benefits have helped reduce the cost difference between EVs and ICE vehicles, they are not enough to ensure the long-term sustainability of the EV sector. Bernstein estimates that the overall EV two-wheeler industry in India generates around USD 1.3 billion in annual revenues, but without government support, the sector incurs an EBIT loss of approximately USD 300-400 million. The high cost structure of EVs, combined with the relatively low sales volumes, makes it difficult for companies to operate without subsidies. <h2>Established players face mixed fortunes</h2>Among India’s leading two-wheeler manufacturers, Bernstein noted that <keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="265" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> and <keyword id="20326963" type="General" weightage="20" keywordseo="TVS-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motors" meta.hostid="265" meta.entityid="TVS Motors">TVS Motors</keyword> are on a similar footing in terms of their performance in the EV space. Bajaj Auto received an "Outperform" rating from Bernstein due to its lower valuations, while TVS Motors was rated "Market Perform" after it was found to be losing approximately 7.5% in EBITDA, or Rs 11,000 per vehicle, despite generating a gross profit margin of 7% without subsidies. <div type="Article" hostid="261" msid="113631992" title="Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh" mstype="2" mssubtype="0"></div>Hero MotoCorp, a major player in India’s automotive market, lags behind both Bajaj and TVS in terms of its EV offerings. Bernstein also pointed out that Eicher Motors, which is expected to launch its own <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> soon, is likely to remain “sub-scale and less relevant” in the competitive EV landscape. Interestingly, <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="265" meta.entityid="Ola Electric">Ola Electric</keyword> (Ola-E) stands out as a startup that has been able to generate positive operating earnings (EBITDA) from its premium models like the S1 Pro and S1 Air, even as it incurs losses on its mass-market model, the S1X. “Our analysis indicates that Ola-E is generating positive operating EBITDA from its premium models, such as the S1 Pro and S1 Air while incurring a loss on its mass-market model, the S1X,” the report said. While Ola has shown some promise, it too remains heavily dependent on subsidies to maintain its financial health. <h2>Long-term outlook</h2>Bernstein’s report paints a challenging picture for the future of India’s EV sector, suggesting that while dominant startups may survive, the majority of the competition will come from traditional automakers. However, without significant scale and continued cost reductions, the EV industry will struggle to become self-sustaining. <div type="Article" hostid="261" msid="113315022" title="Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars" mstype="2" mssubtype="0"></div>Bernstein emphasised that to truly compete with ICE vehicles, the EV sector needs to focus on scaling up operations, reducing costs, and maintaining long-term commitment. Until these conditions are met, India’s EV industry will remain highly dependent on government support and may continue to face an uphill battle for relevance. In conclusion, while India’s EV sector is seen as a vital part of the country’s clean energy future, Bernstein’s analysis highlights that it is far from being self-reliant. The industry’s heavy dependence on government incentives raises questions about its long-term sustainability and relevance, particularly in the face of ongoing challenges with profitability and scale. (With inputs from ANI)

Why has Bernstein called India’s EV sector 'irrelevant'?

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> requires an investment support of USD 1.4 trillion — an average of USD 28 billion per year — to become a net-zero economy by 2070 and raising <keyword id="20260327" type="General" weightage="20" keywordseo="financial-resources" source="keywords">financial resources</keyword> for adaptation and mitigation action of this scale is an "unprecedented challenge", according to the <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-24 tabled in Parliament on Monday. Reaching net zero means achieving a balance between greenhouse gas emissions and the amount of these gases removed from the atmosphere by either natural processes, such as photosynthesis, or by other methods of carbon capture and storage. The consolidated report on the state of the economy in the previous year said India's climate action has been largely financed through domestic resources and the flow of international finance has been "very limited". Citing the Reserve Bank of India's (RBI) data, the report said bridging the "substantial funding gap" necessitates allocating 2.5 per cent of India's annual Gross Domestic Product (GDP) to <keyword id="20018880" type="General" weightage="20" keywordseo="green-finance" source="keywords">green finance</keyword>. "Preliminary estimates indicate that the aggregate investment support required by India to achieve its 2070 net-zero target will be USD 1.4 trillion at an average of USD 28 billion per year. Raising financial resources for <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword> adaptation and mitigation actions of this scale is an unprecedented challenge," the document read. A 2022 report by the Climate Policy Initiative found that domestic sources accounted for the majority of green finance in India, at 87 per cent and 83 per cent in financial years 2019 and 2020 respectively. While international sources are increasing (from 13 per cent in FY 2019 to 17 per cent in FY 2020), the economic survey said they are still insufficient to meet India's net-zero target. "Mobilising substantial capital from traditional sources presents multifaceted challenges in emerging economies like India. The perceived sovereign risks associated with emerging market and developing economies (EMDEs) and the capital-intensive nature of such projects, coupled with lengthy gestation periods and evolving regulatory frameworks, can create misalignment between investor expectations and project timelines," the government said. The economic survey also noted that the flows of global capital to <keyword id="20200084" type="General" weightage="20" keywordseo="developing-countries" source="keywords">developing countries</keyword> have been impeded by high costs of capital. Despite securing a good rating on its green-bond framework, Indian sovereign <keyword id="20177085" type="General" weightage="20" keywordseo="green-bonds" source="keywords">green bonds</keyword> have hardly received any "greenium" from private investors. It is more a "wall of capital" than a "flood of capital" that is waiting to fund energy transition in EMDEs. It is just not mobile. All of these together have severely hampered the flow of finance for green-transition projects, the survey said. "Greenium" or green premium refers to the savings an issuer of a green bond realises on the associated coupon payment because the bond is green. Financial support to help middle-income and poor countries fight climate change will be at the centre of this year's UN climate conference in Baku, Azerbaijan, where the world will reach the deadline to agree on the New Collective Quantified Goal (NCQG) -- the new amount developed nations must mobilise every year starting 2025 to support climate action in developing countries. But achieving consensus will not be easy, given the disappointing progress made on major conflict points at the mid-year UN climate talks in Bonn, Germany. At the 2009 UN climate conference in Copenhagen, rich nations pledged to provide USD 100 billion annually from 2020 to help developing countries mitigate and adapt to climate change. However, delays in achieving this goal have eroded trust between developed and developing nations and have been a continual source of contention during annual climate negotiations. In May, the Organisation for Economic Cooperation and Development (OECD) claimed that developed countries had met the long-standing USD 100 billion-a-year promise by providing nearly USD 116 billion in <keyword id="20000757" type="General" weightage="20" keywordseo="climate-finance" source="keywords">climate finance</keyword> to developing countries in 2022, with nearly 70 per cent of the money given in the form of loans. However, international non-profit organisation Oxfam last week said climate finance provided by rich countries in 2022 totalled no more than USD 35 billion. Developing nations argue that they cannot be expected to reduce carbon dioxide (CO2) emissions faster if developed countries -- historically responsible for climate change -- do not provide enhanced financial support. Rich countries are now expected to raise more than USD 100 billion, with developing countries, including India, demanding trillions of dollars to tackle climate change.

Raising massive financial resources for net-zero goal unprecedented challenge: Economic Survey

<keyword id="6355315" type="General" weightage="20" keywordseo="elon-musk" source="Orion">Elon Musk</keyword>’s <keyword id="6396317" type="General" weightage="100" keywordseo="hyperloop" source="Orion">hyperloop</keyword> has been rubberbanding between revolutionary and a literal pipe dream since the SpaceX founder popularised the concept over a decade ago. However, many companies have diligently kept at it, with one recently hitting a major milestone. Let’s look at the breakthrough that marks an important step in developing this high-speed <keyword id="34991" type="General" weightage="20" keywordseo="transportation" source="Orion">transportation</keyword> system that could reshape future travel. <h2>But first, what is the hyperloop?</h2>The hyperloop is a proposed transportation system in which passenger pods would travel through vacuum-sealed tubes at extremely high speeds — estimated to run at over a 1000 kilometres an hour! Introducing the concept in 2012, Musk envisioned a transportation solution where pods would use magnetic levitation and air bearings to travel at remarkable speeds with minimal air resistance. The low-pressure environment within the tubes would make the system highly energy efficient while slashing travel times between major cities. Though Musk initiated the idea, his direct involvement in hyperloop development has been sporadic. Instead, he opened the technology to the world, encouraging companies and universities to take the idea forward. Over the years, various organisations have attempted to make the hyperloop a reality. <div type="Article" hostid="261" msid="113196061" title="Elon Musk may be world&amp;#39;s first trillionaire by 2027, Adani to touch the mark by 2028, Ambani in 2033: Report" mstype="2" mssubtype="0"></div><h2>What happened in the new test?</h2>The latest breakthrough comes from a September 2024 test by <keyword id="23112501" type="General" weightage="20" keywordseo="hardt-hyperloop" source="keywords">Hardt Hyperloop</keyword> in the Netherlands. In this test, the capsule was successfully levitated and propelled inside a 420-metre-long tube using magnetic fields and a depressurised environment. The vehicle reached a modest speed of about 30 kmph in this initial test over 100 metres, while the goal is to eventually achieve speeds of 700 kmph. "The most difficult things that we are doing now is to test all of these functions together. Levitation, propulsion, guidance, all of those functions we are now capable of executing as an orchestra, making them work together," explains Roel van de Pas, commercial director of Hardt Hyperloop. The company aims to implement passenger operations by 2030, though the technology still faces challenges like high infrastructure costs. <div type="Article" hostid="261" msid="113178707" title="Not everyone is impressed by Elon Musk&amp;#39;s shiny new AI supercomputer" mstype="2" mssubtype="0"></div><h2>International hyperloop advances and India’s stance</h2><keyword id="1334" type="General" weightage="20" keywordseo="china" source="Orion">China</keyword> has also made strides in hyperloop technology. In 2023, China’s maglev hyperloop capsule reportedly reached speeds of 623 kilometres per hour in a controlled environment. With China’s rapid pace of technological development and infrastructure expansion, it has positioned itself as a strong competitor in the global race to perfect hyperloop technology. Several countries beyond China are also advancing hyperloop research. In the United States, the <keyword id="3356943" type="General" weightage="20" keywordseo="hyperloop-one" source="Orion">Hyperloop One</keyword> conducted a manned test in 2020, reaching speeds of over 160 kmph. The pod even had two daring passengers — Virgin Hyperloop’s co-founder Josh Giegel and Head of Passenger Experience Sara Luchian. Unfortunately, the company has now shut down, despite being one of the most promising and well-funded hyperloop startups since the introduction of the concept. However, if you’re waiting for the futuristic tech to arrive in India, you’re going to have to wait quite a while longer. Expressing a cautious stance on hyperloop development, NITI Aayog member V. K. Saraswat explained that India is unlikely to see hyperloop trains anytime soon due to the high infrastructure costs and uncertain feasibility for mass transport applications. As per Saraswat, the tech is still at a “low level of maturity”. While the hyperloop has long been touted as a revolutionary transit system, its path to reality has been slow and uncertain. The technology still faces major obstacles, including high costs, regulatory hurdles, and the challenge of building extensive tube networks across countries. However, the recent successful tests, coupled with China’s progress, offer hope that this ambitious project might eventually come to fruition.

Remember Musk's hyperloop? A European company has just completed its first vehicle test for the next-gen mobility tech!

<ul><li><keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> has become the world's largest mobile operator in terms of data traffic.</li><li>The total traffic on the <keyword id="2003276" type="General" weightage="20" keywordseo="jio" source="Orion">Jio</keyword> network has reached 40.9 Exabytes, marking a 35.2 per cent year-on-year increase.</li><li>This surge is attributed to the growing adoption of <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> and Home services.</li></ul>Reliance Jio, the telecom giant of India, has become the world's largest mobile operator in terms of data traffic, surpassing <keyword id="20669190" type="General" weightage="20" keywordseo="China-Mobile" source="keywords" meta.keywordsubtype="org" meta.entityname="China Mobile" meta.hostid="261" meta.entityid="China Mobile">China Mobile</keyword>. The announcement came on Monday as Jio revealed its quarterly results, showcasing staggering numbers and milestones achieved in various segments. As of March 2024, Jio boasts a subscriber base of 481.8 million, out of which 108 million subscribers are on Jio's True5G Standalone network. The number reflects Jio's stronghold in the Indian telecom market. According to a press release, the total traffic on the Jio network has reached 40.9 Exabytes, marking a 35.2 per cent year-on-year increase. This surge is attributed to the growing adoption of 5G and Home services. Notably, 28 per cent of the traffic comes from 5G subscribers, indicating a swift transition towards next-generation connectivity. Additionally, Jio's Fixed Wireless Access (FWA) services have contributed significantly to the data traffic. Since the onset of the COVID-19 pandemic, there has been a dramatic 2.4x increase in annual data traffic, with per capita monthly data usage skyrocketing to 28.7 GB from just 13.3 GB three years ago. This surge underscores the growing reliance on digital connectivity in India. Commenting on the results, <keyword id="3820" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="Orion">Mukesh Ambani</keyword>, Chairman and Managing Director of Reliance Industries Limited, expressed his satisfaction with the company's performance and its contribution to the Indian economy. He highlighted the significant achievements, including becoming the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits. Ambani said, "Initiatives across RIL's businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits." Ambani also emphasized Jio's role in driving the digital transformation in India, from upgrading 2G users to smartphones to leading the effort in producing AI-driven solutions. He noted, "With over 108 million True 5G customers, Jio truly leads the 5G transformation in India. From upgrading the hitherto 2G users to smartphones, to leading the effort of producing AI-driven solutions, Jio has proved its capability in strengthening the nation's digital infrastructure." He reiterated Jio's commitment to strengthening the nation's digital infrastructure and its continued efforts to provide innovative solutions to consumers. The company's retail arm, Reliance Retail, also showed robust growth, with a 36 per cent increase in footfalls and strong digital commerce platforms offering a broad brand catalogue. "Reliance Retail continued to provide customers endless choices through its robust omni-channel presence. We continue to offer product differentiation and superior offline experience through stores remodelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue. Reliance Retail also works towards strengthening millions of merchants through its unique initiatives in new commerce space", said Ambani. In addition to its telecom and retail segments, Reliance Industries Limited has shown resilience in its Oil to Chemicals (O2C) segment, despite challenging market conditions. The KG-D6 block has achieved significant production milestones, accounting for 30 per cent of India's domestic gas production. Ambani emphasised, "Strong demand for fuels globally, and limited flexibility in refining system worldwide, supported margins and profitability of the O2C segment. Downstream chemical industry experienced increasingly challenging market conditions through the year." He added, "Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance. The KG-D6 block has achieved 30 MMSCMD of production and now accounts for 30 per cent of India's domestic gas production." In terms of financial performance, Reliance Jio has achieved several remarkable milestones. The consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) at Rs 178,677 crore, while the consolidated Profit Before Tax (PBT) has surpassed Rs 100,000 crore. The company's market capitalization has crossed Rs 20,00,000 crore, further solidifying its position as one of India's most valuable companies. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank">Vodafone Idea FPO allotment – How to check allotment, GMP and more</a><a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank">Telecom companies may hike tariffs by up to 17% after the general elections, predict analysts</a>

Reliance Jio emerges as World's largest mobile operator in data traffic, surpassing China mobile

<ul><li>The Indian <keyword id="390059" type="General" weightage="20" keywordseo="smartphone-market" source="Orion">smartphone market</keyword> remained flat in Q3 2023 with 44 million shipments.</li><li>5G smartphones accounted for nearly 60% of the smartphones sold in the country during Q3.</li><li>OnePlus and Poco registered the highest year-on-year growth in shipments.</li></ul> The Indian smartphone market has remained flat year-on-year in Q3 2023 with 44 million smartphones sold during the period. The Q3 performance remained muted, with September registering the lowest shipments since 2019. According to a report by International Data Corporation (IDC), tapered demand and high prices restricted growth in Q3 2023. The premium smartphones segment recorded the highest growth in Q3. <cmsannotation type="cmsannotation" annotationid="Average selling price increases" comment="subhead" text="Average selling price increases">Average selling price increases</cmsannotation> While the shipments failed to impress, there was an increase in the average selling price (ASP) of smartphones. The ASP increased to ₹21,000, a 5% increase quarter-on-quarter and a 12% increase year-on-year. At the same time, the ASP of 5G smartphones dropped by 9% year-on-year to ₹29,700, indicating the move towards making 5G smartphones more affordable. <cmsannotation type="cmsannotation" annotationid="5G smartphone share increases as price declines" comment="subhead" text="5G smartphone share increases as price declines"><keyword id="4224636" type="General" weightage="20" keywordseo="5g-smartphone" source="Orion">5G smartphone</keyword> share increases as price declines</cmsannotation> With unlimited 5G becoming accessible across the country and smartphone makers launching affordable 5G smartphones, customers have started looking for 5G smartphones. In Q3 2023, 5G smartphones recorded a 58% market share of overall shipments, with 25 million units sold. At the same time, the ASP of 5G smartphones decreased. The majority of 5G smartphone launches were in the ₹8,400 to ₹16,700 segment. The share of 5G smartphones in this segment increased from 34% in Q2 to 52% in Q3. “A swift uptake in affordable 5G smartphone shipments signals bullish sentiments and success of affordability efforts of the vendors. We should expect the previous generation of premium smartphone models to be in high demand this festive season, made affordable by various offers and upfront discounts across channels,” said Upasana Joshi, Research Manager, Client Devices, IDC India. Samsung continues to lead the smartphone industry Samsung continued to lead the Indian smartphone industry despite a decline in market share. The company’s market share declined from 18.5% in Q3 2022 to 16.2% in Q3 2023. The next two positions are held by Realme and Vivo, with 15.1% and 13.9% market share respectively. <cmsannotation type="cmsannotation" annotationid="Xiaomi falls down to the fourth position" comment="subhead" text="Xiaomi falls down to the fourth position">Xiaomi falls down to the fourth position</cmsannotation> Xiaomi has registered a 32.4% year-on-year decline, with its market share falling from 17.4% in Q3 2022 to 11.7% in Q3 2023. The company has now become the fourth player in the smartphone industry in the country. <cmsannotation type="cmsannotation" annotationid="OnePlus and Poco record good growth" comment="subhead" text="OnePlus and Poco record good growth">OnePlus and Poco record good growth</cmsannotation> OnePlus and Poco have emerged as the biggest gainers in Q3 2023. OnePlus recorded a growth of 50.1%, increasing its market share from 4.2% to 6.2% in Q3. Similarly, Poco recorded a 50.8% growth, increasing its market share from 3.8% to 5.7%. <cmsannotation type="cmsannotation" annotationid="Apple leads the super-premium segment" comment="subhead" text="Apple leads the super-premium segment">Apple leads the super-premium segment</cmsannotation> The super-premium segment reported a growth of 43%, with its overall share increasing from 4% to 6% in Q3. Cupertino tech giant Apple leads the segment, with a 60% market share. Apple’s iPhone 13, iPhone 14 and iPhone 14 Plus helped the company dominate this segment. The next player in this segment is Samsung, which holds a 36% market share, thanks to its Galaxy S23 series and the Galaxy Z Fold 5 and Flip 5 foldables. <cmsannotation type="cmsannotation" annotationid="Outlook for 2023 remains flat" comment="subhead" text="Outlook for 2023 remains flat">Outlook for 2023 remains flat</cmsannotation> Despite the festive season, the outlook for 2023 is not very encouraging for smartphone makers. “A range of micro financing options available on budget devices like no cost EMI offers for longer periods and affordability initiatives by all major brands has given a modest start to the festive season. However, as demand softens in the latter half of the quarter (post Diwali), brands may face excess inventory challenges. Hence, the outlook for 2023 remains flat or a low single digit decline,” said Navkendar Singh, AVP, Devices Research, IDC. 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The average selling price of Indian smartphones has increased despite a flat market

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> and Maldives have signed an agreement to introduce the <keyword id="19998949" type="General" weightage="20" keywordseo="Unified-Payments-Interface" source="keywords">Unified Payments Interface</keyword> in the archipelago nation, which will have a "very positive" impact on its <keyword id="20260982" type="General" weightage="20" keywordseo="tourism-sector" source="keywords">tourism sector</keyword>, External Affairs Minister S Jaishankar has said. The Memorandum of Understanding was signed on Friday during Jaishankar's three-day official visit to the Maldives. "Witnessed signing of MoU between (the) National Payments Corporation of India and (the) Ministry of Economic Development and Trade of Maldives on (the) introduction of (a) digital payment system in the Maldives," he said in a post on X. Developed by the National Payments Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>), Unified Payment Interface (UPI) is an instant real-time payment system to facilitate inter-bank transactions through mobile phones. Addressing a press conference with his Maldivian counterpart Moosa Zameer after their "productive discussions", Jaishankar said that India, through its UPI, has "revolutionised digital transactions". Stressing that it has taken financial inclusion in India to new levels, he said "Today 40 per cent of the world's real-time digital payments take place in our country." "We see this revolution, every day in our lives. I am pleased to note that with the signing of the MoU today, we have taken the first step towards bringing this digital innovation to Maldives," he said. "I wish the very best to stakeholders on both sides and hope that we will soon see the first UPI transaction here. I should mention that it will have a very positive impact on tourism," he added. Tourism is the main source of economic activity for the Maldives, contributing nearly 30 per cent of the GDP and generating more than 60 per cent of foreign exchange. Jaishankar's visit aims to reset the bilateral relationship with the Maldives and is the first high-level trip from India after the archipelago nation's pro-China president, Mohamed Muizzu, assumed office last year. "India's partnership with the Maldives is based on our deep desire to work together for each other's welfare and interests. It is a partnership that has enabled us to always swiftly and effectively respond to challenges, as witnessed in the past," Jaishankar said. "It is a partnership that has enabled us to deliver results and bring tangible benefits to our people in accordance with their wishes, aspirations and priorities," he said. In a post on X, Jaishankar also said, "Jointly inaugurated six High Impact Projects in areas of street lighting, mental health, children speech therapy and special education." "Welcome renewal of MoU between National Centre for Good Governance and Civil Services Commission on (the) training of additional 1,000 civil services officers," he added. Addressing the joint press conference, Maldivian Foreign Minister Zameer said, "India has always been one of our closest friends and a vital development partner." He said the "enduring friendship" was built on a foundation of mutual trust and respect and has continued to flourish over the years. "High-level exchanges between our countries have deepened our dialogue and cooperation in areas of shared interest. We remain dedicated to strengthening and advancing this mutually beneficial partnership," he said. "Minister Dr Jaishankar and I agreed that much more needs to be done to promote trade and investment between the Maldives and India," he said, adding that both sides are committed to establishing "effective mechanisms to enhance economic cooperation, fostering a vibrant and prosperous partnership that will benefit both the nations." Zameer said he conveyed President Muizzu's proposal to begin negotiations on a Free Trade Agreement between the Maldives and India. "This agreement alongside other economic and trade-related agreements will facilitate trade liberalisation and ease the risks of doing business in both our countries," he said. Zameer said that India and Maldives have also mutually agreed to further strengthen their partnership by continuing joint exercises and expanding training opportunities for officers from both countries, asserting that this reflects "our commitment to working together to ensure the security of our nations as well as ensuring the safety and stability of the Indian Ocean region." India's relations with the Maldives suffered a major setback last year when President Muizzu demanded the withdrawal of Indian military personnel manning three aviation platforms in the Maldives. Subsequently, the Indian military personnel were replaced by civilians by May 10, the mutually agreed date. "On regional and multilateral issues of importance, our countries have a common understanding and are united in our efforts to resolve them. We agreed to continue our cooperation on issues ranging from combating terrorism, violent extremism, drugs, human trafficking and to the promotion and protection of human rights," Zameer said. In his press statement, Jaishankar said that India and the Maldives "are not just close neighbours, we are also natural partners." "Today, we are mutually invested in each other's development and progress. In a globalised and interconnected world, we see a lot of volatility and global tensions. Even as the world is recovering from the impact of the COVID pandemic, we have been confronted with new challenges arising from international conflicts," he said. In this tumultuous environment, India has been and will be, an anchor of stability for its friends, partners and neighbours. To the Maldives specifically, India has provided support to deal with economic challenges through financial assistance and budgetary support, and by ensuring an uninterrupted supply of critical items, he noted. India's actions have been and will continue to be guided by its firm commitment to the philosophy of 'Sabka Saath, Sabke Vikas - which is- Together, we prosper', Jaishankar said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank">Brainbees Solutions (Firstcry) IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

India to introduce UPI payment service in Maldives

<ul><li><keyword id="19897758" type="General" weightage="100" keywordseo="samsung" source="keywords">Samsung</keyword> will lay off over 200 people in India</li><li>Employees across various departments will be affected</li><li>Affected employees will receive three months of salary</li></ul> The tech industry has seen a wave of layoffs in the recent months and another company has now joined the fray. <keyword id="19945681" type="General" weightage="20" keywordseo="samsung-electronics" source="keywords">Samsung Electronics</keyword>, known across the world for its smartphones, appliances, and much more, has now decided to cut more than 200 jobs in India. The layoffs come at a time when the company is grappling with lesser sales due to lower consumer demand, a report in ET reveals. <h2>Samsung plans to lay off people in India </h2> Industry insiders told ET that the layoffs will affect various departments including mobile phones, home appliances, and consumer electronics. The cuts are part of Samsung’s broader effort to lower costs and maintain profitability during this challenging period. The layoffs represent around 9-10 percent of Samsung’s managerial staff in India, where the company employs about 2,000 executives. Those affected will receive three months’ salary along with a severance package offering one month’s salary for every year of service. <h2>Samsung's restructuring plans </h2> As part of its cost-cutting measures, Samsung is also considering merging some of its business divisions, such as television and home appliances. This restructuring, which aims to streamline operations and reduce inefficiencies, could lead to further layoffs. While no official decision has been made yet, reports suggest that the final plan will be confirmed after Diwali, a key festival season in India. The report also mentioned that Samsung has already frozen new hires, and positions left vacant by executives who have resigned are not being filled. Additionally, the company is expected to reduce the number of off-roll employees to further cut costs. <div type="Article" hostid="261" msid="112853351" title="Samsung launches AI-powered washing machines, all you need to know" mstype="2" mssubtype="0"><payload><![CDATA[See also]]></payload></div> <div type="Article" hostid="261" msid="112165411" title="India&amp;#39;s smartphone shipments dip 2% in Q2 2024 as heatwave, slower demand takes toll" mstype="2" mssubtype="0"><payload><![CDATA[See also]]></payload></div>

Samsung Electronics plans to lay off over 200 Indian employees to reduce costs, details inside

<ul><li>Activision and <keyword id="3492146" type="General" weightage="50" keywordseo="nodwin-gaming" source="Orion">Nodwin Gaming</keyword> have announced a new <keyword id="321546" type="General" weightage="100" keywordseo="call-of-duty" source="Orion">Call of Duty</keyword>: <keyword id="13872642" type="General" weightage="80" keywordseo="mobile-india-challenge" source="Orion">Mobile India Challenge</keyword>.</li><li>The registrations for the tournament are now live and will go on till May 22.</li><li>Here’s everything you need to know about the Call of Duty: Mobile tournament.</li></ul>Call of Duty: Mobile developer Activision and e-sports company Nodwin Gaming are back with a new tournament for the popular game in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. The new Call of Duty: Mobile India Challenge has been announced with a prize pool of ₹60 lakh, the highest amount for the game so far. The registrations for the tournament are now live and will go on till June 5. In addition to the prize pool of ₹60 lakh, the top-performing players will also receive COD points, which are the in-game currency for Call of Duty: Mobile. More than 3,70,000 COD points worth ₹50 lakh will be up for grabs during the tournament. “We received a massive reception at the very first edition and we are up for the next one, which is bigger and better in every aspect. Our friends at Activision Blizzard have lent immense support to cultivate the Call of Duty: Mobile competitive eSports scene in India, and we’re proud to say that we have some of the best squads in the world right now,” Akshat Rathee, managing director and founder, Nodwin Gaming. <cmsannotation type="cmsannotation" annotationid="How to register for Call of Duty: Mobile India Challenge" comment="subhead" text="How to register for Call of Duty: Mobile India Challenge">How to register for Call of Duty: Mobile India Challenge</cmsannotation> To register for the Call of Duty: Mobile India Challenge, users can follow the below steps – <ul><li>Go to the Call of Duty: Mobile India Challenge visit this <a href="https://codm.nodwingaming.com/">website</a>. </li><li>Scroll down and click on “Register Now”. </li><li>The registrations are live now and users will be able to register till May 15 for Qualifier 1 and May 22 for Qualifier 2. </li></ul>The tournament will take place in two formats – Battle Royale and Multiplayer mode. Each season will have two qualifiers and 256 teams will compete in each qualifier. The teams will play single elimination matches in both the formats. The top 8 teams from each qualifier in the battle royale format and the top 4 teams from each qualifier in the multiplayer format will compete in the grand finals. The grand finals of battle royale challenge will be played on June 4 and 5 and the finals of the multiplayer challenge will be played on June 25 and June 26. SEE ALSO: <a href="https://www.businessinsider.in/tech/google-pixel-6a-is-allegedly-being-tested-in-india-ahead-of-the-upcoming-i/o-event/articleshow/91435775.cms">Google Pixel 6a is allegedly being tested in India ahead of the upcoming I/O event</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x80-x80-pro-mobiles-expected-to-launch-in-india-on-may-18/articleshow/91435130.cms">Vivo X80 series launching in India on May 18 - expected price, specifications and everything you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-razr-3-mobile-leaked-images-reveal-an-improved-design-and-upgraded-cameras/articleshow/91431840.cms">Motorola Razr 3 leaked images reveal an improved foldable design and upgraded cameras</a>

Call of Duty: Mobile India Challenge announced with up to ₹60 lakh prize pool – how to register, tournament dates and more

Boost in domestic <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> due to PLI (production linked incentive) schemes and increase in <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> on account of free trade agreements are expected to bridge the country's <keyword id="20201391" type="General" weightage="20" keywordseo="trade-deficit" source="keywords">trade deficit</keyword> further, <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> said on Monday. However, it said that fluctuations in <keyword id="19936629" type="General" weightage="20" keywordseo="commodity-prices" source="keywords">commodity prices</keyword>, especially for critical imports like oil, metals, and agricultural products, can impact India's trade balance and inflation levels. The Survey said that though ongoing geopolitical headwinds impacted India's merchandise exports, lowering international commodity prices ensured a lower trade deficit in FY24 than in FY23. The country's merchandise trade deficit narrowed to USD 240 billion in 2023-24 from USD 265 billion in 2022-23. It added that changes in trade policies by major trading partners or geopolitical developments can affect India's export opportunities and market access. "In the coming years, India's trade deficit is expected to decline further as the <keyword id="19981334" type="General" weightage="20" keywordseo="PLI-scheme" source="keywords">PLI scheme</keyword> is expanded and India creates a globally competitive manufacturing base in several product categories," the Survey said. It added that the recently signed FTAs (free trade agreements) are expected to increase the <keyword id="22374533" type="General" weightage="20" keywordseo="global-market-share" source="keywords">global market share</keyword> of the country's exports. The PLI scheme for sectors like mobile manufacturing, information technology (IT) hardware, pharmaceutical, telecommunications, and food product are helping to increase manufacturing and cut imports. India has implemented <keyword id="20000557" type="General" weightage="20" keywordseo="FTA" source="keywords">FTA</keyword> with Mauritius, Australia and the UAE. It added that a narrowing merchandise trade deficit and rising service exports have improved the CAD (<keyword id="20054874" type="General" weightage="20" keywordseo="current-account-deficit" source="keywords">current account deficit</keyword>), ending with a surplus of 0.6 per cent of GDP in Q4 of FY24. However, the risks to the performance of India's external sector are on the downside due to the persistence of current <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword> and policy uncertainty, it said. Some of the challenges listed by the survey includes fall in demand from major trading partners like the US, rise in trade cost, and volatility in commodity prices. Attacks on shipping in the Red Sea and drought in the Panama Canal have resulted in trade flows being re-routed, increasing journey time and costs. India's merchandise trade relies heavily on maritime trade, so disturbances in major shipping routes can impact its economy. "It is critical to explore what these changing paradigms mean for India. Policies need to be a mix that straddles security concerns with economic considerations," the survey said, adding India's push towards manufacturing in complex and niche sectors through schemes such as PLI and Make in India aims to balance these goals. Further, the survey emphasised on the need to focus on improving India's competitiveness in many product areas. For example, it said, India has tremendous potential in becoming a large global exporter in agricultural commodities. Fostering stronger regional trade ties and adding more markets for Indian goods will help mitigate global demand fluctuations. "In an era when global economic growth is likely to be buffeted by geopolitical tensions and protectionism, growing India's exports of goods and services will be a stiffer challenge than before," it cautioned. Commenting on this, Rumki Majumdar, Economist, Deloitte India, said that despite global uncertainties, India's exports are recording positive growth rates. "That shows the resilience of our exports amidst global uncertainties," she said, adding, "by transforming our export basket and focusing on higher margins and value addition across various sectors, India will easily achieve its ambition of USD 2 trillion in exports by 2030-31."

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India set to lead global 6G revolution: Telecom Minister Jyotiraditya Scindia

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Remember Musk's hyperloop? A European company has just completed its first vehicle test for the next-gen mobility tech!

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The average selling price of Indian smartphones has increased despite a flat market

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India to introduce UPI payment service in Maldives

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Samsung Electronics plans to lay off over 200 Indian employees to reduce costs, details inside

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Call of Duty: Mobile India Challenge announced with up to ₹60 lakh prize pool – how to register, tournament dates and more

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India's trade deficit expected to decline further: Economic Survey

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