realme Strong Start to 2024: Emerging as a Top Smartphone Brand

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realme’s journey into 2024 began on a high note, cementing its position among India’s top five smartphone brands for 2023 and securing the fourth spot overall for Q4, marking a triumphant start to the year. This success is a testament to the brand’s remarkable growth trajectory, highlighted by significant milestones in 2023, including its fifth anniversary and surpassing 200 million global shipments.

In addition to its overall success, realme made significant strides in India’s online smartphone market in 2023, claiming the third position both overall and in the Rs 10,000-Rs 20,000 price segment. Moreover, the brand secured the second spot on Amazon and held the third position on Flipkart in December for smartphones within the same price range, showcasing its strong presence in the online space.

According to Canalys, realme shipped a total of 17.4 million units in 2023, with a record-breaking 4.5 million units in Q4 alone, marking its highest offline shipment share for that quarter. The brand has maintained a balanced channel contribution, with the narzo series driving ecommerce sales while the rest of the portfolio continues to dominate offline channels.

realme’s success can be attributed to its focus on delivering high-quality features and competitive pricing that resonate with Indian consumers. Transitioning from an “opportunity-oriented” to a “brand-oriented” approach, realme aims to deeply understand the needs of its youthful audience and expand its reach across global markets while maintaining its core values.

Looking ahead, realme is strategically positioned to leverage the expected revival of the Indian smartphone market in 2024, driven by the rapid adoption of 5G technology and increasing demand for value-focused offerings. Despite economic fluctuations, Indian consumers are actively seeking enhanced value in smartphone purchases, indicating a strong preference for premiumization.

Setting ambitious goals for 2024, realme targets a sales increase of 10 percent by investing in research and development to roll out innovative technologies tailored to the preferences of the younger generation. This emphasis on innovation is poised to propel realme’s growth and success within the Indian market.

RBI Gives Nod to HDFC Bank’s Stake Purchase in IndusInd

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The Reserve Bank of India (RBI) has given the green light to HDFC Bank to buy up to 9.5% of IndusInd Bank’s shares.

IndusInd Bank shared this news in a stock exchange filing, saying that RBI’s approval came through on February 5, 2024. This means that HDFC Bank can now acquire a stake in IndusInd Bank of up to 9.5% of its total shares or voting rights.

However, there’s a condition attached: If HDFC Bank’s stake in IndusInd Bank falls below 5%, they will need RBI’s approval to increase it back up to 5% or more.

This approval from RBI comes with certain rules that HDFC Bank must follow. These include obeying the Banking Regulation Act of 1949, RBI’s guidelines on shareholding in banks, rules under the Foreign Exchange Management Act of 1999, regulations set by the Securities and Exchange Board of India (SEBI), and other relevant laws and guidelines.

Instagram Threads Surpasses Launch Peak, Reaches 130 Million Users

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Instagram Threads Makes Surprising Comeback

After a promising launch that saw 100 million users register within the first five days, Instagram Threads app faced a decline in interest. However, it seems the platform is experiencing a resurgence. During Meta’s recent earnings call, CEO Mark Zuckerberg announced that Threads now boasts 130 million monthly active users, marking a 30 million increase from the previous quarter and even surpassing its initial launch peak.

Zuckerberg expressed optimism about the app’s trajectory, calling it a “major success” and highlighting its steady growth. This news comes alongside another positive indicator for Meta: the company’s family of apps, including Facebook, Instagram, Messenger, and WhatsApp, saw a daily user base of 3.19 billion in the fourth quarter, up from 3.14 billion previously. The monthly active user count for the entire family of apps also experienced growth, reaching 3.98 billion, marking a 6% increase year-over-year.

Financially, Meta reported strong results for Q4, with $40.1 billion in revenue and $14.02 billion in net income. However, the company did see a slight decrease in headcount compared to the previous year, with 67,317 employees as of December 31, 2023.

Meta’s commitment to advancing AI and the metaverse appears to be yielding positive results, as both Zuckerberg’s remarks and the financial figures indicate continued growth and progress. While it remains to be seen whether Threads can maintain its current momentum and become a truly successful platform, its recent performance is undoubtedly encouraging for the company.

Good news for Kumari Aunty.. Food stall at the same place.. Soon CM Revanth will visit her.

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Police have registered a case against Kumari Aunty. Recently the traffic police entered the field and decided that it is not possible to sell food on the roads. They decided to shift the food stall to another area. She complained that her stomach was being beaten. She appealed to get justice for her. When this matter came to the attention of CM Revanth Reddy, he responded. She suggested that permission be issued to set up a food stall in the same area.

good news for kumari aunty
Good news for Kumari Aunty

He said that he can stay in the same place and do business as usual. He said that under the rule of the people, the government will be with the businessmen. He said that the Congress government will be on the side of the poor. Government sources have informed us that soon CM Revanth Reddy will go to Kumari Aunty’s food stall and enjoy the food.

IKEA Launches E-Commerce Deliveries in Southern and Western States

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On Tuesday, Swedish home furnishing retailer IKEA unveiled the launch of its e-commerce deliveries, extending its services to thousands of PIN codes across 62 districts in Telangana, Andhra Pradesh, Maharashtra, and Karnataka. This expansion aligns with IKEA’s response to sustained demand and visits from customers in nearby cities and towns to their physical stores.

The newly established customer meeting points will provide access to a comprehensive range of over 7,500 home furnishing products. Customers can effortlessly search, find, and purchase their preferred items through the IKEA app, online via the brand’s website (www.ikea.in), or leverage the “Shop by Phone” assistance service.

Susanne Pulverer, CEO & CSO (Chief Sustainability Officer) of IKEA India, expressed, “IKEA has received a lot of customer love and trust over the last five years from Telangana, Andhra Pradesh, Maharashtra, and Karnataka. Expanding our reach further in these markets means making IKEA more accessible to our customers, more convenient, and truly omnichannel.”

Presently, 72% of customer orders in existing markets are fulfilled through Electric Vehicles. With this expansion, IKEA aims to enhance capacities in its supply chain, emphasizing sustainability.

Flipkart Co-founder Binny Bansal Farewell to Flipkart Board After 16 Years

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Binny Bansal, one of the co-founders of Flipkart, has officially stepped down from the e-commerce platform’s board after more than 16 years. Sachin Bansal, the other co-founder, had already left the board in 2018. Binny expressed confidence in Flipkart’s strong position and leadership team, stating that he is stepping aside with the knowledge that the company is in capable hands.

Earlier this month, Binny Bansal announced his new venture called ‘OppDoor,’ which focused on helping e-commerce companies expand globally by providing end-to-end solutions. Flipkart Group CEO Kalyan Krishnamurthy acknowledged Binny’s significant impact on the Indian retail ecosystem and wished him the best in his new venture.

Sony Culver Max Cancels USD 10 Billion Merger with Zee

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Culver Max Entertainment, previously known as Sony Pictures Networks India (SPNI), has canceled plans to merge with Zee Entertainment. The merger, initially announced on December 22, 2021, aimed to create a massive USD 10 billion media entity in India.

A statement from Sony Group Corporation revealed that SPNI, a wholly-owned subsidiary of Sony, issued a notice terminating the merger agreements with Zee Entertainment Enterprises Ltd (ZEEL). According to the deal, the merger was expected to be completed before December 21, 2023, with regulatory approvals and other conditions.

If the merger didn’t close within 24 months after the signature date, the parties were supposed to discuss extending the end date. However, as the closing conditions were not met by the end date, Sony sent a termination notice to ZEEL after a one-month grace period.

Although ZEEL had sought a deadline extension on December 17, SPNI initially did not agree but later agreed to discuss the matter. The proposed merger had already received regulatory approvals from the Competition Commission of India (CCI), NSE, BSE, shareholders, creditors, and the National Company Law Tribunal (NCLT) in August.

In summary, the planned merger between Culver Max Entertainment and Zee Entertainment has been called off due to unmet closing conditions within the specified timeframe.

Bengaluru Welcomes Apple: New Office in India

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On Wednesday, Apple revealed its plans to grow its presence in India by opening a new office in the center of Bengaluru, solidifying its position in the country by increasing local manufacturing.

Situated at Minsk Square, a key location in the city, the new office can accommodate up to 1,200 employees. With 15 floors, the office includes dedicated lab space, areas for collaboration and wellness, and Caffe Macs.

“Bengaluru is already home to so many of our talented teams, including software engineering and hardware technologies, operations, customer support, and more,” an Apple spokesperson told IANS.

“Like everything we do at Apple, this workspace is created to foster innovation, creativity, and connection. It’s an amazing space for our teams to collaborate,” the company spokesperson added. The interiors feature locally-sourced materials like stone, wood, and fabric in the walls and flooring, and the office is filled with native plants.

The new office follows best practices in energy conservation, running on 100 per cent renewable energy, and aims to achieve a Leadership in Energy and Environmental Design (LEED) Platinum rating — the highest level of LEED certification.

Apple has been carbon neutral for its corporate operations since 2020, and has run all Apple facilities using 100 percent renewable energy since 2018.

The office is the latest addition to the company’s corporate office footprint in Bengaluru, Mumbai, Hyderabad, and Gurugram, marking another important milestone in Apple’s more than 25-year history in the country.

Apple has nearly 3,000 employees in India and collaborates with Indian suppliers supporting hundreds of thousands of jobs across the country.

The company works with partners advancing critical work to protect the environment and expand access to education and employment, including Frank Water, which helps empower communities to protect their own watersheds on the outskirts of Bengaluru.

Apple’s teams in Bengaluru work across a wide range of Apple’s business — from software, hardware, services, IS&T, operations, customer support, and others. As India focuses on local manufacturing, Apple assembled iPhones worth more than Rs 1 lakh crore in India in 2023, according to industry data.

However, industry sources suggest the actual market value of the iPhones manufactured/assembled in India could be much higher, depending on taxes in other countries.

Stock Market Shake-Up: Sensex and Nifty Falls

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The stock market had a rough start on Wednesday, with the Sensex dropping by 900.68 points to begin at 72,228.90. At the same time, the Nifty went down by 243.30 points, starting at 21,786.00. The market was not looking good, reflecting worries about the economy.

Looking at Nifty companies, there were 12 going up and 38 going down, showing a not-so-happy picture of the overall market.

Some winners were HDFC Life, Adani Ports, TCS, and Infosys, while Ultra Cement also did well. On the other side, HDFC Bank, Hindalco, Tata Steel, Bajaj Auto, and Axis Bank faced losses and were the top losers.

The big surprise was HDFC Bank, dropping a huge 7%, causing Nifty to go down by 385 points and Bank Nifty to drop by 1200 points.

This decline in HDFC Bank seemed to have a big impact on the overall market, suggesting a broader correction.

Experts mentioned that Nifty had recently reached its highest point ever at 22,124.15 but started showing signs of slowing down. Previous warnings about a potential correction of 5-10% seemed to be happening now.

Experts said that until the market went above recent highs, it would stay in a not-so-strong state.

HDFC Bank’s big drop was because it had its first YoY earnings per share (EPS) decline in ten years, making it a disappointing quarter for the bank. Net Interest Margins (NIMs) didn’t grow compared to the previous quarter, and borrowings were more than deposit growth.

The fall of this stock affected Nifty and Bank Nifty a lot since HDFC Bank is a big player in both indexes.

Varun Aggarwal, founder and managing director of Profit Idea, said, “People in the market are worried about the bigger economic picture, with uncertainties about global economic conditions, supply chain problems, and increasing inflation pressures.” The bad performance of a big bank like HDFC Bank made people more concerned about how well the financial sector can handle these challenges.

Experts said that the market would be watching closely for signs of recovery or more problems.

The reports from other big companies, what’s happening in the world economy, and decisions by central banks are crucial things that could change how people feel about the market in the next few weeks.

Investors and traders are getting ready for more ups and downs, changing how they do things to handle the changing market.

The next days will probably see more attention on how well companies are doing and what economic signs show, affecting how the Indian stock market moves.

Maruti Suzuki India Raises Car Prices by 0.45%

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Maruti Suzuki India has implemented a price hike across its entire model range. The average increase, calculated based on ex-showroom prices in Delhi, stands at around 0.45%. This adjustment comes into effect from January 16, 2024.

Maruti Suzuki’s diverse lineup, featuring models from the budget-friendly Alto to the premium Invicto, caters to a wide range of customers. The price range for these models varies between Rs 3.54 lakh and Rs 28.42 lakh (ex-showroom). This move aligns with the industry’s dynamics, where automakers occasionally adjust prices to account for various factors, including rising input costs and economic conditions.