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Samsung has asked all of its Galaxy Note 7 buyers to get their handsets replaced. To end the bad phase, Samsung is offering cash, a Galaxy S7/Galaxy S7 Edge, or even an upgrade programme for next year to placate customers. A small survey done by IDC sheds light on what Samsung Galaxy Note 7 users are inclined to opt for, after returning their recalled unit back to the company.

Market research firm IDC surveyed 1,082 US consumers through an online survey soon after Samsung killed the Galaxy Note 7. The survey had around 24 Galaxy Note 7 users, and half of these users claimed that they would return or have already returned their phones for cash, and will buy/or have already bought an Apple iPhone unit instead. However, 17 percent of these users said that they would opt for another Samsung device.

These figures are not monumental, and what 24 users think cannot really account for the general sentiment of the lakhs of Note 7 buyers. However, it does point to how Samsung may lose few loyalists because of this controversy.Of all the 1,082 consumers surveyed, 507 are Samsung smartphone owners, 347 users were Samsung owners in the past, 228 owners never owned a Samsung smartphone, and 24 were current Note 7 users. The research firm also found out that even though the Galaxy Note 7 recall cost the company billions of dollars, it didn’t impact their overall brand as much. A majority of respondents said it would not impact future decisions to buy other, non-smartphone Samsung products such as televisions and appliances.

Even though many blamed Samsung for poor recall process, the consumers found the company’s response to be largely positive. Interestingly, the report also claims that 13 percent of the data pool hadn’t even heard of the recall at all.

For now, Samsung is scrambling to find the reason for this debacle and all of the engineers’ focus and energy has been shifted to find the cause of these explosions. In South Korea, 527 smartphone buyers are demanding Samsung to pay each plaintiff about KRW 500,000 ($440 or roughly Rs. 29,400) for time and effort lost when the phones were first recalled and then later scrapped altogether.


The October festive sales in the country have proven to be phenomenally successful for Xiaomi. The company’s Indian arm has reported that it has sold more than 500,000 smartphones in less than three days between October 1 and 3, which it claims is an industry first and milestone for the Chinese smartphone maker. The company sold Xiaomi and Redmi devices during the festive season sales on Amazon, Flipkart, Snapdeal, and Tata Cliq. While it also sold products on Mi.com, the company does not appear to be counting sales from its own platform.

The Redmi 3S (along with Redmi 3S Prime) was the top-selling product on Flipkart during its Big Billion Days Sale while Redmi Note 3 was the best-selling smartphone of Amazon’s Great Indian Festival sale. Xiaomi’s Redmi Note 3 (Gold), Redmi Note 3 (Grey), Mi Band 2, and 10000mAh Mi Power Bank were placed among the top six best-selling electronics on Amazon.

Manu Jain, India Head, Xiaomi said, “We are extremely proud to be sharing this milestone with our fans, partners and employees. More than six months of rigorous planning and hard work has helped us set a new benchmark in the industry. Last year we sold more than half a million phones in 30 days during the month of October, and this year we were able to achieve a similar number within three days. Based on what we know, no other brand has ever achieved this in India.”

“We are extremely thankful to all our Mi Fans for their amazing support, and will continue to work hard to constantly outdo ourselves as we have done on many occasions this year. One thing I would like to share with our Mi Fans is that this is just the beginning of a beautiful Mi India journey and there will be many more reasons to celebrate,” he added.

Over 800,000 smartphones were sold in one day during Flipkart’s Big Billion Days Sale which started on October 2 and Xiaomi was the top smartphone brand, contributing significantly to the number.

Meanwhile, Amazon’s Great Indian Shopping Festival began on October 1 which saw deals on the Redmi Note 3, Mi Max, 10000mAh Mi Power Bank, 20000mAh Mi Power Bank, and Mi Band 2.

Xiaomi has seen an incredible growth rate in India ever since the company entered the market in 2014. The company has managed to tap into the huge budget-to-mid-range smartphone market with the likes of the Redmi 3S and Redmi Note 3, which has proved fruitful for the company.

Xiaomi in September also achieved a milestone with the Redmi Note 3 as it became the bestselling online phone in India with 2.3 million units having been sold to date.

As per IDC, Xiaomi is now the third largest smartphone brand across top 30 cities in India.


China’s Huawei Technologies Co Ltd, the world’s third-largest smartphone vendor, said first-half global smartphone shipments jumped 25 percent, helped by rapid growth in traditionally high-end markets such as Europe.

Shenzhen-based Huawei, which competes with Samsung Electronics Co Ltd and Apple Inc, shipped 60.5 million smartphones globally in the first half.

Huawei’s consumer business group, which includes its smartphone division, booked global revenue of CNY 77.4 billion ($11.6 billion or roughly Rs. 78,124 crores) for the first six months, up 41 percent from last year.

Huawei aims to surpass market leaders Samsung and Apple within five years to become the world’s top smartphone vendor.

Industry watchers, however, are less optimistic. They said Huawei is facing stiffer competition from domestic rivals such as Xiaomi Inc and Lenovo Group Ltd as cost-conscious consumers are looking for alternatives with similar features in an increasingly saturated global market.

Huawei’s head of consumer business Richard Yu was, however, bullish about the firm’s long-term prospects.

“There are only three major smartphone vendors in the world – Apple, Samsung and Huawei. It’s consolidating…other vendors will die in the next three to five years,” he told a news conference.

Research firm TrendForce last week cut its estimate for Huawei’s annual smartphone shipments by 8.5 percent to 119 million units, citing worse-than-expected sales of Huawei’s flagship phone.

“The sales of Huawei’s flagship P9, which features a dual camera, may fall short of expectations as other Chinese brands release competitive products,” said TrendForce analyst Avril Wu.

Huawei held 9 percent of the global smartphone market in the second quarter of this year, a distant third behind Samsung’s 24.5 percent and Apple’s 15 percent, according to TrendForce.


Mumbai: lenders’ hopes of recuperating money from assets qualified as ‘bad’ recently will come authentic within the latter half of the next monetary, as soon as modifications in redressal mechanisms are delivered, BofA-ML stated on Thursday.

the american brokerage stated the banks will hold recognising more stress for as much as a 12 months more, however as soon as all of the important adjustments inclusive of the confused asset fund come to be a fact, the recovery manner should begin.

“We assume October 2017-March 2018 could turn out to be sudden us by means of way of more potent recoveries, mainly if get a few uptick in the macroeconomy,” it said in a be aware.

lenders who’ve posted massive reverses in profitability because of an RBI-mandated increase in stress asset popularity, had been pronouncing that they’ll paintings on money owed for my part and try to opposite the provisions made for bad assets.

The deeper reputation has caused many banks posting document losses due to the excessive provisions for horrific assets.

within the notice, BofAML said the NPAs are at its peak and the focal point is transferring to recovery of bad belongings after the smooth-up workout, which began with the RBI’s asset fine evaluation in overdue 2015.

The RBI had given banks a listing of 130 bills, requested them to categorise the ones as non appearing and take the hit in the quarters ended December 2015 and March 2016.

The RBI is focused on to smooth up the bank balance sheets by March 2017.

The brokerage said interventions like ensuring that the project receives proper capital, a deeper restructuring beneath the strategic debt restructuring direction and additionally the burdened asset fund that is mentioned the most will assist within the restoration procedure.

“while those measures are at an early degree, we think they’ll drastically useful resource the process of pressure resolution presently underway amongst banks,” it stated, including that they’ll act as an “greater fillip” to recoveries.

once they get completed with recognising the stress, the banks may even get more aggressive in stress decision and will pressure the debtors to cooperate, it said.

It added that measures just like the these days handed bankruptcy Code can even help in stress decision.

The brokerage stated private quarter banks and united states of america’s largest lender country financial institution of India could be the most important beneficiaries of this exercising, including that besides SBI all of the state-run banks do not have comfy capital ranges.

nearly eleven in step with cent of the overall assets inside the device are labeled either NPA or restructured, following the AQR exercise.

British banking predominant HSBC Holdings % plans to shut 24 branches in India, a choice in order to effect round 10 consistent with cent of the business enterprise’s retail customer base and lead to 300 jobs losses. HSBC employs over 33,000 humans within the usa.

HSBC’s decision to downsize its India operations comes after a strategic overview of its retail banking and wealth management commercial enterprise, which confirmed customers are more and more choosing virtual banking offerings.

HSBC stated it’d consolidate from 50 branches throughout 29 towns to 26 branches throughout 14 towns, and the closures will take place gradually over the following few months.

“India is a concern marketplace for HSBC and we are able to hold to make investments to reap sustainable growth with the aid of assisting the desires of our customers,” Stuart Milne, organization wellknown manager and leader govt officer of HSBC India, stated in a statement.

The move comes 5 months after HSBC said it become exiting its personal banking unit in India as part of its group strategy.

HSBC stated it plans to make investments further in its retail banking and wealth management business, and could soon announce “an elevated proposition to cater to its pinnacle tier customers and similarly era deployments for the gain of its retail customers.”
tale first published on: may additionally 19, 2016 19:30 (IST)

Tags: HSBC, HSBC task cuts in India, HSBC shutdown, HSBC department ultimate

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