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Flipkart eyes 40% share of Indian mobile phone sales by 2020

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Mumbai :E-commerce giant Flipkart said it was planning to grab 40% of market share by 2020 as part of its ‘Mobiles 40by20’ strategy. The company stressed that sales of mobile phones on its platform has significantly grown in last four-five years.

Outlining the details, Flipkart VP (Mobiles and Large Appliances) Ajay Yadav said the company already is a preferred partner for a number of handset brands and is taking a number of steps to further consolidate its leadership position in the category.

“Approximately, one in 4 phones bought in India is through Flipkart. We have achieved 60 per cent growth in the mobile phone category, compared to an industry growth of 14 per cent. With ‘Mobiles 40by20’, Flipkart will contribute significantly towards adding the next 100 million smartphone users by 2020,” he told reporters here.

 

Flipkart aspires 40% of overall market share by 2020, Yadav added.

As part of the strategy, Flipkart has formed a long-term strategic partnership with Taiwanese handset maker, Asus. The first smartphone under this partnership — ZenFone Max Pro — will be launched on April 23.

The partnership will cover sales and marketing of products by Flipkart and see both the companies collaborating for co-creation of new products for the Indian market based on consumer insights.

Commenting on the partnership, Asus CEO Jerry Shen said the company sees tremendous opportunity in creating products and services that address India’s market needs.

“With Flipkart’s partnership, we aim to gain more insights about Indian consumers’ needs which can help us develop even more suitable products for the Indian market,” he added.

Citing various industry reports and internal estimates, Flipkart CEO Kalyan Krishnamurthy said the retail market in India is expected to grow 1.6X to USD 972 billion by FY21 from USD 600 billion in FY16.

E-commerce, on the other hand, is forecast to grow at 8.5X to USD 50-60 billion by FY21 from USD 9-10 billion in FY16.

He noted that e-tailing has also played an important role in organising the mobile phone market in India.

Offline smartphone sales in the country grew 1.2X to 82 million units in 2017 from 70 million units in 2012, while online sales grew 4.2X to 42 million units from 10 million units in 2012, he said.

“Flipkart has driven the adoption of smartphones in India, and grown the market, through innovations and a deep sense of knowing what consumers want,” Krishnamurthy added.


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US to eliminate Iran oil sanctions waiver for India, 7 others:Report

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Washington: The United States is expected to announce that all importers of Iranian oil will have to end their imports shortly or be subject to US sanctions, a source familiar with the situation told Reuters.

The source confirmed a report by a Washington Post columnist that the administration will terminate the sanctions waivers it had granted to some importers of Iranian oil late last year.

US President Donald Trump has been clear to his national security team over the last few weeks that he wants the waivers to end, and national security adviser John Bolton has been working the issue within the administration.

 

The US reimposed sanctions in November on exports of Iranian oil after Trump unilaterally pulled out of a 2015 nuclear accord between Iran and six world powers Washington is pressuring Iran to curtail its nuclear program and stop backing militant proxies across the Middle East.

Along with sanctions, Washington has also granted waivers to eight economies that had reduced their purchases of Iranian oil, allowing them to continue buying it without incurring sanctions for six more months

They were China, India, Japan, South Korea, Taiwan, Turkey, Italy and Greece.

But on Monday, Secretary of State Mike Pompeo will announce “that, as of May 2, the State Department will no longer grant sanctions waivers to any country that is currently importing Iranian crude or condensate,” the Post’s columnist Josh Rogin said in his report, citing two State Department officials that he did not name
Frank Fannon, US Assistant Secretary of State for Energy Resources, repeated the administration’s position that “Our goal is to get to zero Iranian exports as quickly as possible.

“Other countries have been watching to see whether the United States would continue the waivers. Last Tuesday, Turkish presidential spokesman Ibrahim Kalin said that Turkey expects the United States to extend a waiver granted to Ankara to continue oil purchases from Iran without violating US sanctions.

Turkey did not support US sanctions policy on Iran and did not think it would yield the desired result, Kalin told reporters in Washington.

Washington has a campaign of ‘maximum economic pressure’ on Iran and through sanctions, it eventually aims to halt Iranian oil exports and thereby choke Tehran’s main source of revenue.

So far in April, Iranian exports were averaging below 1 million barrels per day (bpd), according to Refinitiv Eikon data and two other companies that track such exports and declined to be identified.

That is lower than at least 1.1 million bpd as estimated for March, and down from more than 2.5 million bpd before sanctions were reimposed last May. Brent crude futures , the international oil benchmark, were up nearly 2 per cent at USD 73.25 a barrel, on the report that the waivers were to end.

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Maruti drives in Baleno with BS VI compliant petrol engine

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New Delhi: The country’s largest carmaker Maruti Suzuki India (MSI) Said it has launched its premium hatchback Baleno with BS VI emission norms compliant petrol engine, priced between Rs 5.58 lakh and Rs 8.9 lakh (ex-showroom Delhi).

The auto major has also introduced two variants of the car with smart hybrid technology. The trim with 1.2 litre DUALJET, DUAL VVT petrol engine is priced at Rs 7.25 lakh, while the Zeta variant is tagged at Rs 7.86 lakh. As per the company, the models with smart hybrid technology would deliver a fuel efficiency of 23.87 km/litre.

“At Maruti Suzuki, we strive to bring newer, better and environment friendly technologies to our products. Baleno Smart Hybrid with BS VI stands testament to the same. We are confident that the premium hatchback Baleno will present a complete package in line with aspirations of evolving customers,” MSI Senior Executive Director Marketing & Sales R S Kalsi said in a statement.

 

The company said in order to achieve the stringent emission regulation requirement, it has upgraded both engine hardware and software along with exhaust system.”Baleno is country’s first premium hatchback to be offered with Smart Hybrid technology,” it added.

MSI has sold over 5.5 lakh Baleno units since its launch in 2015. It sold more than 2 lakh units of the hatchback in the last fiscal year.

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SpiceJet, Emirates sign MoU for code share partnership

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Mumbai: Budget carrier Spicejet announced signing of an initial pact for code share partnership with Gulf carrier Emirates.

The reciprocal partnership will allow opening of new routes and destinations for passengers of the two airlines, SpiceJet said in a statement.

“I am delighted to announce that as part of SpiceJet’s international expansion strategy, we have signed a Memorandum of Understanding (MoU) for a code share agreement,” SpiceJet Chairman and Managing Director Ajay Singh said in the statement.

 

SpiceJet passengers from 51 domestic destinations will be able to access Emirates’ network across the US, Europe, Africa and Middle East, it added.

Code-sharing allows an airline to book its passengers on its partner carriers and provide seamless travel to destinations where it has no presence.

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