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<ul><li>The Indian smartphone market recorded a 5.6% growth in Q3 2024, with 46 million devices shipped.</li><li>Vivo emerged as the market leader, with a 15.8% market share.</li><li>Apple recorded its highest quarterly shipments in India in Q3 2024.</li></ul> <keyword id="10541246" type="General" weightage="100" keywordseo="indian-smartphone-shipments" source="Orion">Indian smartphone shipments</keyword> recorded a growth of 5.6% in Q3 2024, marking the fifth consecutive quarter to record growth. In Q3 2024, 46 million smartphones were shipped in India. According to a report by International Data Corporation (IDC), Cupertino tech giant Apple posted its highest quarterly shipments in India at 4 million units, led by iPhone 15 and iPhone 13. “Growth in the biggest quarter of the year was fueled by attractive discounts, multiple financing options, extended device warranty and cashback/bank offers across both online/offline channels. The launch of several new 5G smartphones also drove demand,” said Upasana Joshi, Senior Research Manager, Devices Research, IDC Asia Pacific. <h2>Smartphone Market Share Q3 2024</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-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;">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;">13.9% </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;">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;">13.9% </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;">9.9% </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;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;">12.3% </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;">16.2% </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;">Realme </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;">11.5% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.1% </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;">11.4% </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;">11.7% </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;">8.6% </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;">5.7% </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;">Poco </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;">5.8% </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;">5.7% </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;">Motorola </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;">5.7% </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;">2.4% </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;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">iQOO </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;">4.2% </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;">2.2% </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;">OnePlus </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;">3.6% </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;">6.2% </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;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </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;">7.2% </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;">11.0% </td></tr></tbody></table> Source: IDC <h2>Vivo leads the market</h2>Vivo has emerged as the market leader in Q3 2024, with a 15.8% market share, up from a 13.9% market share in Q3 2023. This marks the third consecutive quarter where the smartphone maker has led the Indian smartphone market. Vivo’s shipments have increased by 20% year-on-year. Oppo is second, with a 13.9% market share in Q3 2024, up from a 9.9% market share in Q3 2023. The company’s shipments have increased by 47.6% year-on-year. Samsung, which led the Indian smartphone market in Q3 2023 with a market share of 16.2% has been pushed down to the third spot with a 12.3% market share. The company’s shipments have declined by 19.7% year-on-year. Other notable changes include the increase in Apple’s market share from 5.7% to 8.2%, a decline in OnePlus’ market share from 6.2% to 3.6% and a 149% year-on-year increase in shipments recorded by Motorola. <h2>5G shipments on the rise</h2>The share of 5G shipments increased to 83% in Q3 2024, up from 57% in Q3 2023. Of the 46 million smartphones shipped, 38 million were 5G smartphones. This has been fueled by the decline in the average selling price (ASP) of 5G smartphones. The ASP has by 20% to $292 (approx. ₹24,650). “Cyclical dip in demand after the festive period and high shipments in 3Q24 will result in higher stock levels across channels in 4Q24. Thus, India's smartphone market is expected to exit 2024 with a low single-digit annual growth,” said Navkendar Singh, AVP – Devices Research, IDC. 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Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market

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'?

Shares of <keyword id="19956271" type="General" weightage="100" keywordseo="Ola-Electric-Mobility" source="keywords">Ola Electric Mobility</keyword> were in a freefall today, tanking about 4.55% on the NSE and 4.88% on BSE. Today also marked 30 days since the company was listed on the bourses (August 9th), bringing down shutters on the one-month lock-in window anchor investors are mandated to hold stocks for, before deciding to offload 50% of shareholding. Around 18.18 crore shares, or about 4% of company's outstanding shares were eligible for trading in the market post the 30-day lock-in, which hurtled Ola's stock towards Rs 100. While the stock managed to gain some ground later in the day, and was trading at Rs 114.10 when the markets closed today, slightly up from its intraday low of Rs 109. However, it still remained a far cry from its all-time high price of Rs 157.4, which it had hit on August 20th, 2024. Ola Electric, which currently dominates the Indian EV space, debuted on stock exchanges last month, and was looking to raise Rs 6,145.56 crore via fresh issue, along with an OFS (offer for sale) of 8.49 crore equity shares. The IPO was oversubscribed by around 4x. Going ahead, the Bhavish Aggarwal-led startup is also set to face intense competition from fellow EV maker Ather Energy. With its IPO set to hit the markets soo, Ather is looking to raise Rs 3,100 crore via fresh issue, and an OFS of about 2.2 crore equity shares. Per the DRHP (draft red herring prospectus) filed by Ather, its net worth for FY24 stood at Rs 545.9 crore. The remaining 50% of Ola Electric's shares will be eligible for offloading by anchor investors in 60 days from now, or 90 days since the date of allotment. While this event will certainly test Ola's buoyancy in the market, the fact remains that Ola was off to a stellar start days after its listing, when the stock price accelerated to Rs 157.4 on August 20th, 2024. This skyrocketed the company's valuation well beyond that of established Indian 2-wheeler giants like Hero Moto Corp and Bajaj, albeit briefly. In fact, for a small period, Ola Electric Mobility had recorded valuations higher than that of Tesla's. For perspective, Ola's market capitalization, as of today, stood at Rs 50,327.57 crore. Bajaj Auto, which listed on the exchanges in 2008, presently has a market value of Rs 3,02,993.79 crore, while Hero Moto Corp, which was listed in 2003, currently has a market value of Rs 1,14,788.59 crore. However, ever since hitting this peak on August 20th, Ola's prices have only been on a downward journey. However, now that the stock has witnessed a price correction of sorts, the question remains- has Ola corrected enough, or are we still in for further downside? As per SEBI registered Investment Advisor Gaurav Goel, Ola continues to trade in the expensive zone despite recent correction. "The recent mercurial rise in the stock has been more on the promise it holds for the future. It is the largest <keyword id="23099550" type="General" weightage="20" keywordseo="E-Scooter-Manufacturing" source="keywords">E-Scooter Manufacturing</keyword> company in India, with 31% market share in the E2W sector, selling 3,29,618 scooters in FY24. Recently, it also forayed into the motorcycle segment with several new “Roadster” models at an attractive pricing. It is building an Ola Gigafactory for cell production in Tamil Nadu, and a Battery Innovation Centre in Bangalore", Goel explained. "However, we feel that despite attractive future plans, the stock is currently overpriced. Despite rising revenues, we need to see how quickly it is able to translate widening losses into profits", he continued. <h2>Gaping holes, take a long-term approach </h2>It is hard to overlook the wide, year on year losses that the company continues to incur. As of March 2024, the company had racked up an operating loss of Rs 1,266 crore. Per its Q1FY25 financials, the company's losses before taxes during April-June 2024 grew to Rs 347 crore, up from Rs 267 crore in the year-ago period. The company's cash flows from operating activities continued to be in red, rising from Rs 2,520.25 crores in March 2021 to Rs 15,072.71 crore as of March 2023. Generally, if a company is regularly registering negative cash flows from its primary, operational activity, it is a troubling sign, indicating that the company is spending more than what its making. Ola continues to rack up major losses in its cell business, which reported a loss of Rs 5 crore in Q1FY25. The segment's operating expenses, however, doubled from Rs 11 crore in Q1FY24 to Rs 22 crore in Q1FY25. Per Agrawal, the indigenously developed 4680 Bharat Cell, which will be integrated in all Ola vehicles starting Q1FY26, will help in bettering the company's profit margins, given that cells constitute around 30-35% of overall vehicle's cost. Which is why experts suggest not to buy into any short-term euphoria surrounding the stock, and instead, opt for a long-term approach. While there is scope, it is largely unchartered waters, which will have to face the tides of multiple market volatilities and cycles, before it starts to generate sustainable, significant returns. Goel believes that while the new vehicle segment is a good space to enter, the competition here is going to be stiff. Customer actual response in terms of sales is yet uncertain. "We recommend a buy on dips on this stock. An entry level of Rs 100 would be good point for purchase. It should be kept for the long-term, for a period of at least 3-5 years for realization of its potential"

Shares of Ola Electric have tapered down from their record-highs. Is this a good time to buy in?

The electric vehicle (EV) market in India is evolving rapidly, and with the festive season approaching, many consumers are contemplating whether to wait for the usual <keyword id="23152657" type="General" weightage="20" keywordseo="festive-discounts" source="keywords">festive discounts</keyword> or take advantage of government incentives. One of the key schemes driving <keyword id="20421629" type="General" weightage="20" keywordseo="EV-adoption" source="keywords">EV adoption</keyword> has been the Faster Adoption and Manufacturing of Hybrid and <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric Vehicles</keyword> (FAME) initiative in 2015, which is transitioning to phase 2 in 2019. As per the recent announcement from the government, the government is replacing FAME II with a new scheme for the next two years. And no, it’s not FAME III! <h2><keyword id="23136597" type="General" weightage="100" keywordseo="PM-E-Drive" source="keywords">PM E-Drive</keyword> subsidy comes into effect</h2>The PM E-Drive subsidy aims to build on the success of previous versions, where over 16 lakh vehicles benefited from FAME 2. However, unlike its predecessor which included subsidies for passenger EVs, PM E-Drive has reportedly limited subsidies to only two-wheelers, three-wheelers, buses, hybrid ambulances and electric trucks. All in all, the scheme, with an outlay of Rs 10,900 crores, is expected to support 24.79 lakh electric two-wheelers, 3.16 lakh e-three wheelers, and 14,028 e-buses, along with a plethora of other features to improve the national e-mobility ecosystem. This also includes 22,100 fast chargers for e-4 Ws, 1800 fast chargers for e-buses and 48,400 fast chargers for e-2W/3Ws that will be set up in selected cities with high EV penetration and highways to allay the “range anxiety” of EV buyers. More specifically, Rs 3,679 crores have been provided to incentivise e-2Ws, e-3Ws, e-ambulances, e-trucks and other emerging EVs. These incentives are expected to help reduce the upfront cost of electric vehicles, making them accessible to a larger segment of the population. Additionally, state-run bus companies will likely see increased support, further boosting the public transport EV ecosystem.<div type="Article" hostid="261" msid="113282182" title="Automobile industry hails PM e-DRIVE scheme to promote EVs" mstype="2" mssubtype="0"></div>As a result, PM E-Drive will particularly benefit individuals and businesses looking for two- and three-wheelers, as well as state transportation corporations. Small businesses that rely on electric three-wheelers for deliveries or passenger services could also see significant savings, which can be reinvested into their operations. <h2>How does it compare to festival deals?</h2>While the <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> under PM E-Drive offer substantial savings, festival season sales from EV manufacturers can provide additional discounts and promotions, such as reduced down payments, lower interest rates, and free charging infrastructure. However, these discounts are often limited-time offers and might not match the long-term financial benefits provided by government subsidies. For example, if you’re in the market for a <keyword id="23152655" type="General" weightage="20" keywordseo="two-wheeler-EV" source="keywords">two-wheeler EV</keyword>, PM E-Drive incentives might be more valuable than a one-time festive discount of Rs 5,000 to Rs 10,000, based on the final discounts that automakers provide. Additionally, manufacturers sometimes adjust their prices before offering festival deals, potentially reducing the actual discount. On the other hand, FAME subsidies are fixed and directly reduce the vehicle's purchase cost. Therefore, if you're primarily looking at entry-level electric vehicles like scooters or bikes, PM E-Drive might offer a more substantial and stable financial benefit than waiting for festive discounts. <div type="Article" hostid="261" msid="113239075" title="Drivers are feeling better about EV range and charging infrastructure, but still aren&amp;#39;t ready to go electric" mstype="2" mssubtype="0"></div><h2>Should you buy now or wait?</h2>The decision to wait for the festival season or go ahead with the purchase largely depends on what you're looking for. If you're in the market for an electric two-wheeler or three-wheeler, the government subsidies under PM E-Drive — when they finally arrive — could be more beneficial than the temporary discounts during the festival season. However, if you're eyeing an electric car, especially a high-end one, the limited scope of PM E-Drive for passenger EVs might mean that festival offers provide better value. If you’re contemplating waiting for the festival season to purchase an electric two-wheeler, these festive offers could stack up alongside the PM E-Drive subsidies, if automakers integrate the scheme into their pricing by then. Festival deals may even provide additional perks such as easy EMI options and free service packages, which aren't typically covered under government schemes. Therefore, it's worth evaluating both festive deals and FAME subsidies to maximise savings. In conclusion, the launch of PM E-Drive brings a solid financial incentive to accelerate India's transition to <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>. Those considering two- or three-wheelers may want to act quickly as these subsidies roll out, while car buyers might want to weigh their options as the festive season approaches.

Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars

<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>The <keyword id="18656923" type="General" weightage="20" keywordseo="Budget-2024-25" source="Orion">Budget 2024-25</keyword> was tabled today by Finance Minister Nirmala Sitharaman.</li><li>The budget has proposed a reduction in BCD for mobile phones, chargers and mobile PCBA.</li><li>The reduction in BCD is expected to bring down the cost of imported mobile phones.</li></ul> Finance Minister Nirmala Sitharaman today presented the Union Budget 2024-25 in the parliament, unveiling the budget for the fiscal year 2024-25. This is the first budget in the third term of the Narendra Modi-led government. In a boost to the smartphone industry, the government has announced a reduction in basic customs duty (BCD) on mobile phones, mobile phone chargers and mobile PCBA. <div type="Article" hostid="261" msid="111951205" title="Budget 2024-25: Changes to tax slabs, increased standard deduction and other changes to direct taxation" mstype="2" mssubtype="0"></div> <h2>Reduced customs duty on mobile phones</h2>The government has reduced the BCD on mobile phones, mobile phone chargers and mobile PCBA to 15% from the existing 20%. The government had increased the BCD on these parts from 15% to 20% in 2018. This reduction in customs duty will help in reducing the cost of mobiles and chargers that are imported from other countries, including select iPhones that are still imported. “The <keyword id="19955368" type="General" weightage="20" keywordseo="Budget-2024" source="keywords">Budget 2024</keyword> decision to reduce BCD on mobile phones, PCBA, and chargers while simultaneously extending exemptions on inputs/raw materials for smartphone manufacturing, capital goods, and inputs for capital goods in the electronics industry is a welcome move that will encourage the domestic electronics manufacturing ecosystem,” said Muralikrishnan B, President, Xiaomi India. A lot of companies also import PCBAs for the devices and they should also record a decrease in costs. At this moment, it is not clear how much of the benefit will be passed on to the consumers. In February 2023, the government <a href="https://www.businessinsider.in/budget/news/from-cheaper-smartphones-to-100-5g-labs-here-are-the-top-tech-announcements-in-budget-2023-24/articleshow/97527763.cms">reduced</a> the customs duty on camera lenses used in smartphones from 2.5% to nil. “Transsion India welcomes the Ministry of Finance's decision to reduce the BCD from 20% to 15% on mobile phones, mobile PCBA and chargers. This move will make smartphones more affordable and help us offer the best-in-class smartphones to the ever-evolving Indian market,” said Arijeet Talapatra, chief executive officer, Transsion India. <h2>Experts predict a small price cut</h2>Despite the reduction in BCD, experts have said that a major price cut must not be expected. “The reduction of BCD on smartphones, chargers and PCBA will not have any major impact on the prices of smartphones. We may expect a price cut of 1-2% on average from this move, however, this depends on OEMs if they want to pass this to end consumers. In the lower price segments, we may not see this as in these price segments, the margins are very low,” said Tarun Pathak, Research Director, Counterpoint Research. “However, on the overall electronics manufacturing, the government has focused on a very key area, which is upskilling. Announcements regarding upskilling shows the government intent to grow high-skilled labor force and will help the electronics manufacturing sector securing high-skilled local talent,” he added. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/mobile-phones-to-cancer-medicines-things-that-are-set-to-become-cheaper-after-budget-2024-25/articleshow/111954947.cms">Budget 2024-25: Here's what is cheaper and costlier</a> <a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms">Budget 2024-25: Changes to tax slabs, increased standard deduction and other changes to direct taxation</a> <a href="https://www.businessinsider.in/stock-market/news/understanding-tax-alterations-affecting-stock-markets-capital-gains-tax-stt-on-fo-and-more/articleshow/111956139.cms">Budget 2024: Tax alterations affecting stock markets — capital gains tax, STT on F&amp;O, and more</a>

Budget 2024 – Customs duty on mobile phones, chargers and more reduced

The e-commerce market in India is projected to increase significantly to over USD 300 billion by 2030 as the country's <keyword id="20107419" type="General" weightage="20" keywordseo="digital-economy" source="keywords">digital economy</keyword> is set to reach a whopping USD 1 billion by the same year. According to <keyword id="19918506" type="General" weightage="20" keywordseo="Invest-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Invest India" meta.hostid="261" meta.entityid="Invest India">Invest India</keyword>, India's online shopper base will be the 2nd largest globally by 2030, with nearly 500-600 Mn shoppers. Even now, India has the 2nd largest Internet user-base globally with 881 million users. India is moving towards becoming a dominant force in global e-commerce by 2030, driven by a growing digital economy and an expanding internet user base. The data from the investment promotion and facilitation agency Invest India from shows India taking the lead in <keyword id="19957108" type="General" weightage="20" keywordseo="online-shopping" source="keywords">online shopping</keyword>, the e-commerce sector in India is valued at USD 70 billion at present. This makes up for just around 7 percent of the total retail market in the country. However, several factors are likely to contribute a bright future outlook for the sector. <cmsannotation type="cmsannotation" annotationid="Growing internet penetration and digital economy" comment="subhead" text="Growing internet penetration and digital economy">Growing <keyword id="20707509" type="General" weightage="20" keywordseo="internet-penetration" source="keywords">internet penetration</keyword> and digital economy</cmsannotation> Internet penetration across has seen substantial growth, with over 60% of the Indian population (918 million) using the internet by September 2023. Further, an estimated 87 percent of Indian households are projected to have internet access as early as 2025. The time spent accessing the internet via mobile devices has also increased by 21 percent compared to 2019. The affordability of data prices in India is a key factor, with one gigabyte of data priced at around USD 0.17 (Rs 13.5), encouraging a large portion of the population to go online. <keyword id="21457667" type="General" weightage="20" keywordseo="mobile-data-traffic" source="keywords">Mobile data traffic</keyword> has tripled from 2018 to 2023, demonstrating the growing dependence on <keyword id="19979951" type="General" weightage="20" keywordseo="digital-platforms" source="keywords">digital platforms</keyword> for diverse requirements. It is projected that by 2026, 1.18 billion people across the country will have access to smartphones, over 80% of India's population. The increasing number of smartphone users along with higher average data consumption per user, boosts the digital economy. The Unified Payments Interface (UPI) has become a major player in digital payments, handling transactions worth USD 1.5 trillion in 2022. There has been a significant increase in the availability of local language and mobile-first content, with about 73 percent of India's internet users utilizing Indian languages. As a result, there is an estimated regional language user base of 540 million, creating a market worth USD 53 billion. Digital infrastructure like UPI, eKYC, and Aadhaar has cut down the consumer onboarding time by 80 percent, enhancing the digital experience. The Open Network for Digital Commerce (ONDC) is another notable initiative by the Government of India, launched in 2022. It aims to provide equal opportunities to MSMEs to thrive in digital commerce and democratize e-commerce. <cmsannotation type="cmsannotation" annotationid="A transition along with growth" comment="subhead" text="A transition along with growth">A transition along with growth</cmsannotation> In FY 2022-23, Government e-marketplace (GeM) registered its highest ever Gross Merchandise Value of $2011 Bn, shows data from Invest India. The projected growth in online shoppers in India is substantial, with a compound annual growth rate (CAGR) of 22 percent to 88 million in rural India and 15 percent to 263 million in urban India from 2019 to 2026. There is a notable transition towards rural-focused value e-commerce, with more than 60 percent of demand anticipated to come from tier 2-4 towns and rural India by 2026. Government programs such as the National Logistics Policy are designed to streamline deliveries to remote areas, improving the efficiency and cost-effectiveness of logistics. The quick commerce market in India's hyperlocal mobility sector is also projected to grow exponentially to achieve a market size of USD 5.5 billion by 2025. Leading companies like Swiggy and Zomato are at the forefront of the market, while startups like Zepto are also gaining substantial market share. <keyword id="20873923" type="General" weightage="20" keywordseo="social-commerce" source="keywords">Social commerce</keyword>, a new trend that uses social networks and digital media to connect buyers and sellers, is also projected to achieve a market size of USD 70 billion by 2030, with small video applications gaining significant popularity. Significant mergers and acquisitions have been observed in the e-commerce sector, with companies such as Zomato and PhonePe making strategic decisions to enhance their positions. Government schemes like Jan Dhan Yojana, BharatNet Project, and the implementation of Goods &amp; Service Tax (GST) have been instrumental in shaping India's digital economy. (With inputs from ANI)

India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030

<ul><li>Starting today, the game will be available to preload on Google Play store for All Android users; playable from May 29th.</li><li>iOS users can download and play from May 29th.</li></ul>Announcing the update on <keyword id="11923507" type="General" weightage="20" keywordseo="bgmi" source="Orion">BGMI</keyword>, <keyword id="10263851" type="General" weightage="50" keywordseo="krafton-inc" source="Orion">Krafton Inc</keyword> said that “India’s most loved battle royale title is available to preload from today, 27th May for ALL Android users." The game will be playable from May 29 onwards. iOS users can download and play starting from the same date. Sean Hyunil Sohn, CEO, <keyword id="10155974" type="General" weightage="80" keywordseo="krafton" source="Orion">KRAFTON</keyword>, Inc. India, said "We are thrilled to announce that <keyword id="11197652" type="General" weightage="50" keywordseo="battlegrounds-mobile-india" source="Orion">BATTLEGROUNDS MOBILE INDIA</keyword> is now available for preload. We are consistently striving to deliver a smooth gameplay experience to our users and are excited to welcome everyone back." "We once again, thank the authorities and our users for their continued support as we look forward to elevating the gaming experience for our community in India. See you on the battlegrounds! Some users have already received an automatic update as part of the preload process. Krafton plans to stagger the availability and playability to ensure uninterrupted gameplay. The company encourages players to dive into action-packed battles and demonstrate their skills. The Indian government lifted the ban on BGMI earlier this month after Krafton's commitment to comply with local laws. <cmsannotation type="cmsannotation" annotationid="New map, in-game events and more" comment="subhead" text="New map, in-game events and more">New map, in-game events and more</cmsannotation> The new update will bring a fresh map, in-game events, and more. Alongside the game's availability, Krafton launched the marketing campaign 'India Ki Heartbeat' that showcases gamers' stories, emphasizing the emotional connection to BGMI. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

BGMI release date announced: Available to Android users for download starting today

<ul><li>Amazon is currently offering festive discounts on smartphones as part of its yearend offers.</li><li>Smartphones such as iPhone 13, Galaxy S23 FE and more are available at discounted prices.</li><li>The etailer is also offering attractive discounts on iPhones.</li></ul>As the year 2023 comes to a close, deals are flying all across the internet. And if you are looking to buy a new smartphone, now is the right time to purchase a new smartphone. Amazon India has announced several offers and discounts on smartphones as the year comes to an end. As part of the sale, smartphones from brands like OnePlus, Apple, Samsung, Xiaomi, Realme and others are being offered at a discounted price. In this post, we look at some of the <keyword id="400134" type="General" weightage="20" keywordseo="best-deals" source="Orion">best deals</keyword> on smartphones on Amazon. Apple iPhone 13 <cmsannotation type="cmsannotation" annotationid="B09G99CW2N" comment="amazoncard" text="B09G99CW2N">B09G99CW2N</cmsannotation> If you are looking to get an iPhone but do not wish to splurge a lot of money, the iPhone 13 is a good option for you. While the<a href="https://www.businessinsider.in/tech/mobile/news/iphone-15-iphone-15-plus-with-usb-type-c-port-improved-cameras-launched-starting-at-799/articleshow/103615581.cms"> iPhone 15</a> is out, the iPhone 13 is still a good device for those looking for a daily user. It offers a decent camera setup, good performance and a stable user experience. The iPhone 13 is currently available for ₹50,499, down from its original price of ₹69,900. OnePlus 11R 5G <cmsannotation type="cmsannotation" annotationid="B0BSNQ2KXF" comment="amazoncard" text="B0BSNQ2KXF">B0BSNQ2KXF</cmsannotation> The OnePlus 11R 5G is another good option if you are in the market for a new smartphone. The OnePlus 11R 5G is a mid-range smartphone that comes with a good display, decent hardware and a smooth user experience. It is a good option for youngsters and professionals looking for a new smartphone. The device is currently available for ₹39,999, with a discount of up to ₹35,100 on exchange of older smartphones. Samsung Galaxy S23 FE <cmsannotation type="cmsannotation" annotationid="B0CJ4S724M" comment="amazoncard" text="B0CJ4S724M">B0CJ4S724M</cmsannotation> The Samsung Galaxy S23 FE, the company’s latest offering in its Galaxy S23 series is up for grabs at a discounted price. The Galaxy S23 FE is a good option for those looking for a hassle-free smartphone that runs without any issues. The device offers a good camera setup, making it a great option for those looking for a camera-centric smartphone. The Galaxy S23 FE is currently available for ₹59,999, down from its original price of ₹79,999. Motorola Razr 40 <cmsannotation type="cmsannotation" annotationid="B0C7QLL8QJ" comment="amazoncard" text="B0C7QLL8QJ">B0C7QLL8QJ</cmsannotation> If you are in the market for a foldable smartphone, the Motorola Razr 40 Ultra is currently available with a huge discount. The latest flip smartphone from Motorola is a great option for those bored with traditional smartphones and looking for something unique without having to break the bank. The Motorola Razr 40 is currently available for ₹44,999, down from its original price of ₹99,999. iQOO Neo 7 Pro 5G <cmsannotation type="cmsannotation" annotationid="B07WFPLL3C" comment="amazoncard" text="B07WFPLL3C">B07WFPLL3C</cmsannotation> The iQOO Neo 7 Pro 5G is another good option if you are looking for a powerful mid-range device that is good for gaming, multi-tasking and more. The device offers a decent camera setup and is a great option for youngsters looking for a daily-driver. The iQOO Neo 7 Pro 5G is currently available for ₹32,999, down from its original price of ₹39,999. Redmi Note 12 <cmsannotation type="cmsannotation" annotationid="B0C1GKQ79V" comment="amazoncard" text="B0C1GKQ79V">B0C1GKQ79V</cmsannotation> It’s not just premium and mid-range smartphones that are being offered at a discount as part of the sale. The Redmi Note 12 affordable smartphone is also being offered at a discounted price. The device offers good performance and a decent camera setup in the budget segment. The Redmi Note 12 is currently available at ₹11,999, down from its original price of ₹18,999. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/inox-india-ipo-how-to-check-allotment-and-gmp-value/articleshow/106109279.cms">Inox India IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-and-suvs-in-india-in-2023/slidelist/106092280.cms">From WagonR to Nexon to Creta – top selling cars in India in 2023</a> <a href="https://www.businessinsider.in/stock-market/webstories/motisons-jewellers-ipo-at-a-glance-price-band-to-risk-factors/slidelist/106081719.cms">Motisons Jewellers IPO at a glance – Price band to risk factors</a>

iPhone 13 to Redmi Note 12 – Best deals on 5G smartphones

<keyword id="6409600" type="UNKNOWN" weightage="20" keywordseo="PUBG-MOBILE">PUBG Mobile</keyword> and <keyword id="6788542" type="UNKNOWN" weightage="20" keywordseo="pubg-mobile-lite">PUBG Mobile Lite</keyword> will no longer work for gamers in India starting from Friday, the company has announced. <keyword id="6151051" type="UNKNOWN" weightage="20" keywordseo="Tencent-Games">Tencent Games</keyword>, that owns the mobile game, said on <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> that it "deeply regrets this outcome" and thanked PUBG Mobile and PUBG Mobile Lite fans for their support in India. The company said on Thursday that "protecting user data has always been a top priority and we have always complied with applicable data protection laws and regulations in India. All users' gameplay information is processed in a transparent manner as disclosed in our privacy policy". The announcement came on the back of the Indian government's decision to ban PUBG Mobile and PUBG Mobile Lite on September 2. The game was banned under Section 69A of the Information Technology Act. <keyword id="9900533" type="COMPANY" weightage="20" keywordseo="pubg-corporation">PUBG Corporation</keyword> recently announced that they are withdrawing their partnership with Tencent, and that they will work with the Indian government to look for a quick resolution. PUBG game, which has more than 600 million downloads and 50 million active players globally, has nearly 33 million users in India. PUBG Mobile saw a global revenue gain of $1.3 billion (roughly Rs 9,731 crore) in the first half of this year, bringing its lifetime collection to $3 billion (nearly Rs 22,457 crore) with the highest number of downloads in India which ranks at the top with 175 million installs as people stayed home owing to the Covid-19 pandemic and lockdowns. Additionally, the Indian gaming company nCore announced indigenous multiplayer action game FAU-G to fill the void of PUBG Mobile. FAU-G is slated to launch next month. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/kepler-estimates-there-are-at-least-300-million-potentially-habitable-planets-within-the-milky-way-galaxy/articleshow/78946863.cms">Kepler estimates there are at least 300 million potentially habitable planets within the Milky Way galaxy</a> <a href="https://www.businessinsider.in/science/health/news/mit-has-a-new-ai-model-that-can-detect-asymptomatic-covid-19-patients-just-by-the-using-the-sound-of-their-coughs-recorded-over-phone-calls/articleshow/78927475.cms">MIT has a new AI model that can detect asymptomatic COVID-19 patients just by the using the sound of their coughs recorded over phone calls</a> <a href="https://www.businessinsider.in/business/corporates/news/tata-communications-executive-explains-how-iot-is-expanding-beyond-manufacturing-and-which-sectors-are-showing-the-fastest-growth/articleshow/78924587.cms">EXCLUSIVE: Tata Communications’ IoT head explains how COVID is driving the next wave of Internet of Things</a>

PUBG Mobile and PUBG Mobile Lite cease operations in India just ahead of Halloween

<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. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/auto-giants-look-at-hybrids-and-cng-vehicles-to-plug-the-gap-as-evs-catch-on/slidelist/105011258.cms">Auto giants look at hybrids and CNG vehicles to plug the gap as EVs catch on</a> <a href="https://www.businessinsider.in/tech/mobile/news/india-q3-smartphone-shipments-apple-gains-34-pc-market-share-in-india/articleshow/104907807.cms">Smartphone shipments: Apple gains 34% market share in India as Samsung, Xiaomi decline</a> <a href="https://www.businessinsider.in/business/auto/news/indias-electric-two-wheelers-up-and-running-after-reduced-fame-subsidy-bump/articleshow/104912419.cms">India’s electric two-wheelers up and running after reduced FAME subsidy bump</a>

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

<keyword id="6409600" type="General" weightage="20" keywordseo="pubg-mobile" source="Orion">PUBG Mobile</keyword> from Tencent was the top grossing mobile game worldwide for November 2021 with close to $254 million in player spending, which represented nearly 46 per cent growth from November 2020. Approximately 66 per cent of <a href="https://www.businessinsider.in/tech/apps/news/users-spend-133-billion-on-apps-as-apples-app-store-continues-to-lead-revenue-shares/articleshow/88157952.cms" data-type="tilCustomLink">PUBG Mobile's</a> revenue was from China, where it has been localised as Game For Peace, followed by 7.3 per cent from Turkey and 6.8 per cent from the US, reports Sensor Tower. Genshin Impact from miHoYo was the second highest earning mobile game worldwide for November 2021 with almost $207 million in gross revenue, which represented approximately 47 per cent year-over-year growth from November 2020. About 36 per cent of Genshin Impact's revenue was from China, followed by 24 per cent from Japan. The next top grossing game was Honor of Kings from Tencent, followed by Coin Master from Moon Active and Lineage W from NCSOFT. The global mobile games market generated an estimated $7.1 billion from player spending across the App Store and Google Play in November 2021, marking an increase of 7 per cent year-over-year. The number one market for global revenue in November 2021 was the US, which generated approximately $2 billion, or nearly 29 per cent of total player spending worldwide. Japan ranked number two for revenue at 20 per cent, followed by China, where Google Play is not available, at close to 18 per cent. Coin Master had its best month ever in November, generating approximately approximately $125 million worldwide, a rise of 4 per cent year-over-year. The title's best day for revenue last month was on November 26, coinciding with both Black Friday and the Thanksgiving weekend, when it accumulated approximately $7.5 million. During this period, Coin Master offered players the chance for free currency and spins, as well as a special Cyber Season event. In India, PUBG Mobile and many other apps are banned under Section 69A of the Information Technology Act, since they were involved in activities causing prejudice to the sovereignty and integrity of the country. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/oneplus-is-likely-to-debut-its-first-tablet-in-india-late-next-year/articleshow/88199648.cms" data-type="tilCustomLink">OnePlus is likely to debut its first tablet in India late next year</a> <a href="https://www.businessinsider.in/tech/news/government-to-offer-76000-crore-incentive-package-for-semiconductor-manufacturing-in-india/articleshow/88199708.cms" data-type="tilCustomLink">Indian government to offer ₹76,000 crore incentive package for semiconductor manufacturing in India, report says</a>

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PUBG Mobile and PUBG Mobile Lite cease operations in India just ahead of Halloween

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

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PUBG Mobile was the top grossing game globally in November 2021

IANS

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