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Apple captures 48% share in India premium phone market in Q1

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Apple

Apple maintained its leading position in the India premium smartphone market with nearly 48 per cent share in the first quarter of 2021, according to a new report.

Apple witnessed a massive 207 per cent growth (year-on-year) in India in Q1 2021, continuing to carry forward its momentum in the January-March period this year.

“The brand maintained its leading position in the premium segment (Rs 30,000 or $400 and above) with almost 48 per cent share. Strong demand for the iPhone 11 coupled with aggressive offers on the iPhone SE 2020 and expansion in ‘Make in India’ capabilities are the driving factors in this growth,” the new Counterpoint Research tracker said.

Apple has also registered more than 1 million shipments for two consecutive quarters for the first time.

In the festive quarter of 2020, Apple was the sixth-largest smartphone vendor in India, registering 171 per cent growth. Apple witnessed its best ever quarter in Q4 2020, selling more than 1.5 million units.

An increase in sales of older-generation iPhone 11 and the newer mid-range iPhone SE helped the company grow in the festive quarter.

For the full year 2020, the iPhone maker grew 93 per cent (YoY).

India’s smartphone shipments grew 23 per cent YoY to reach over 38 million units in Q1 2021. These were the highest ever first-quarter shipments. New product launches, promotions and financial schemes, as well as pent-up demand coming from 2020, drove the smartphone market in Q1 2021.

Business

Zomato shares decline 9%, market cap falls below 1L cr

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Shares of online food aggregator Zomato declined 9 per cent intraday on Friday.

Analysts are linking the decline with unsupportive valuations. Over the past one-month period, Zomato shares fell nearly 18 per cent.

Listed in July 2021, Zomato shares are, however, up more than 50 per cent from its IPO issue price of Rs 76. On Friday’s closing, it was at Rs 114 per share.

“The costs have escalated due to the tax imposed on the aggregator, along with the fact that the lockdown is also not currently happening, which also appears to be a weakness,” said Ravi Singhal, Vice Chairman at GCL Securities.

With Friday’s losses, the company’s market capitalisation fell below the 1 lakh crore-mark, NSE data showed.

According to Ravi Singh, Vice President and Head of Research, Share India Securities: “The technical setup in Zomato stock is in bearish formation on intraday and daily which may drag the stock up to Rs 112-110 levels in the near term.

“The valuations of the company are also not supporting the growth. Zomato is facing tough competition from Swiggy in many ways, mainly having a thinner Metro restaurant network and density versus Swiggy. We recommend investors to maintain the sell position in the stock.”

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Decline in equities continue for 4th straight sessions

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The 30-scrip Sensitive Index (Sensex) and broader 50-scrip Nifty on the National Stock Exchange (NSE) extended their losses from the previous three consecutive sessions and declined on Friday.

At 10.25 a.m., Sensex traded at 58,593 points, down 0.9 per cent from the previous close of 59,464 points. It opened at 59,039 points.

Nifty traded at 17,599 points, down 0.9 per cent from the previous close of 17,757 points. It opened at 17,613 points.

Bajaj Finserv, Tech Mahindra, Coal India, Adani Ports, Bharti Airtel were some of the top losers, NSE data showed.

Top gainers during the early trade were Hindustan Unilever, Tata Consumers, Bajaj Auto, Hero MotoCorp, and Power Grid Corporation.

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Decline in equities continue for 4th straight sessions

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The 30-scrip Sensitive Index (Sensex) and broader 50-scrip Nifty on the National Stock Exchange (NSE) extended their losses from the previous three consecutive sessions and declined on Friday.

At 10.25 a.m., Sensex traded at 58,593 points, down 0.9 per cent from the previous close of 59,464 points. It opened at 59,039 points.

Nifty traded at 17,599 points, down 0.9 per cent from the previous close of 17,757 points. It opened at 17,613 points.

Bajaj Finserv, Tech Mahindra, Coal India, Adani Ports, Bharti Airtel were some of the top losers, NSE data showed.

Top gainers during the early trade were Hindustan Unilever, Tata Consumers, Bajaj Auto, Hero MotoCorp, and Power Grid Corporation.

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