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21st Century to be The Century of India, Says Amazon CEO Jeff Bezos

Bezos' visit to India comes at a crucial time as the Competition Commission of India has ordered an enquiry into the business practices of the e-commerce majors Amazon and Flipkart

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amazon, jeff bezos
Amazon.in arrived in India on June 5, 2013 and for world's top billionaire Jeff Bezos, has transformed the way the country buys and sells. VOA

Making major investment announcements for small and medium businesses (SMB), Amazon CEO Jeff Bezos on Wednesday said that the 21st century will be the century of India.

Speaking at the Amazon Smbhav event here, Bezos announced that Amazon would invest $1 billion in digitising SMBs in the country.

He further said that the e-commerce major would use its global footprint to export Made in India goods worth $10 billion by 2025.

Amazon
Amazon Logo is seen at the company logistic center in Lauwin-Planquin, France. VOA

“I predict that 21st century is going to be the Indian century,” he said, adding that apart from the dynamism it has, India is a democracy which is a major characterstic of the country.

Also Read: Apple to Launch High-end iPhones Featuring 6GB RAM This Year

He also observed that in terms of alliances, the 21st century would be about the bilateral relations between the US and India.

Bezos’ visit to India comes at a crucial time as the Competition Commission of India has ordered an enquiry into the business practices of the e-commerce majors Amazon and Flipkart. (IANS)

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India Becomes the Second Largest Smartphone Market After China: Report

India surpasses US to become 2nd largest smartphone market

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The Indian smartphone market surpassed the US for the first time on an annual level. Pixabay

New Delhi: Riding on Chinese brands, the India smartphone market surpassed the US for the first time on an annual level and this is the latest science and technology news, becoming the second-largest smartphone market after China globally — reaching 158 million shipments in the calender year 2019 with 7 per cent (YoY) growth, a report from Counterpoint Research said on Friday.

While Xiaomi continued to be the top player with 28 per cent market share in the calendar year 2019, Samsung was second with 21 per cent and Vivo at 16 per cent market share, said Counterpoint’s ‘Market Monitor’ service.

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India has now become the second-largest smartphone market after China globally. Pixabay

“Although the rate of growth for smartphone market hit single digit for the first time ever on an annual basis, India is underpenetrated relative to many other markets with 4G penetration in terms of subscribers being around 55 per cent,” said Tarun Pathak, Associate Director, Counterpoint.

“Chinese brands share hit a record 72 per cent for the year 2019 as compared to 60 per cent share a year ago.

“This year, we have seen all major Chinese players expanding their footprint in offline and online channels to gain market share. For instance, Xiaomi, realme, and OnePlus have increased their offline points of sale while brands like Vivo have expanded their online reach with Z and U series,” said Anshika Jain, Research Analyst at Counterpoint.

Over the past four years, Xiaomi, Vivo, and OnePlus have grown 15 times, 24 times and 18 per cent, respectively.

“This highlights that OEMs are mature enough to capture next wave of growth and expand their operations in India,” Jain added.

Smartphone
Although the rate of growth for smartphone market hit single digit for the first time ever on an annual basis, India is underpenetrated relative to many other markets with 4G penetration in terms of subscribers being around 55 per cent. Pixabay

Samsung shipments remained almost flat (YoY) while it has shown a 5 per cent (YoY) decline in 2019.

“This is for the first time Samsung transitioned to a completely new portfolio targeting different channels (offline with A series and online with M series). However, it needs to double down its efforts to keep the momentum going,” the report noted.

While the smartphone market registered YoY growth, the feature phone market witnessed a steep decline of nearly 42 per cent YoY in 2019 and 38 per cent (YoY) in Q4 2019.

Also Read- Amazon’s Music Streaming Service Hits 55 Million Subscribers Globally

“This is due to slowdown in the new shipments from Reliance Jio. However, the players such as itel, Lava, Nokia and Micromax registered positive annual
growth despite the overall segment declined showing the untapped potential of the market,” said the report.

In fact, itel emerged as the number one feature phone brand in Q4 2019, followed by Samsung and Lava. (IANS)