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Indian Consumers Cautious of Data Misuse Through Technological Devices

Executives in the technology sector believe that their company's information security function is highly engaged with the organization's digital transformation agenda. 

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cyber security
"It's clear that organisations are still prioritising their bottomline ahead of consumer expectations and concerns, despite the opportunity to use effective cyber security strategy to build consumer confidence and engagement," says Akhilesh Tuteja, KPMG Global Co-Leader, Cyber Security. Pixabay

Nearly 86 per cent of the consumers in India are concerned about eavesdropping of their conversations or theft or misuse of their messages through their devices, a KPMG report said on Thursday.

According to KPMG’s “Consumer Loss Barometer” report, the focus of the organisations has to be on building trust with customers in the digital era through adequate cyber security to propel business growth.

Nearly 84 per cent of the consumers in India prefer mobile device usage over apps and cloud.

phone

While 51 per cent respondents in India believe that additional levels of privacy and security should be embedded within the design of new types of “connected” devices, 59 percent said that it is their own responsibility to ensure the devices you are using have been secured. Pixabay

However, more than 50 per cent of respondents have limited personal information stored on the Cloud primarily due to security and privacy concerns, the findings showed.

The report that surveyed more than 2,000 consumers and 1,800 Chief Information Security Officers (CISOs), identified a mismatch between the priorities of CISOs and consumers in the event of a breach.

“The proliferation of connected and IoT devices will have a cross-sector impact on areas around data security and privacy. In response to this, regulators will need to establish mandatory data security requirements,” said Atul Gupta, Leader-IT Advisory and Cyber Security Leader, KPMG in India.

Executives in the technology sector believe that their company’s information security function is highly engaged with the organization’s digital transformation agenda.

However, only 33 percent of the executives in the automotive sector believed so. A sizeable minority said executives were infrequently briefed on cyber security, with only one per cent of the total number of executives briefed on a monthly basis.

“Security leaders prioritise financial loss (60 per cent), costs of business disruption, recovery, and remediation (51 per cent) and reputational risk (31 per cent) over the impact relationship with consumers (21 per cent),” the report added.

cyber security
According to KPMG’s “Consumer Loss Barometer” report, the focus of the organisations has to be on building trust with customers in the digital era through adequate cyber security to propel business growth.  Pixabay

While 51 per cent respondents in India believe that additional levels of privacy and security should be embedded within the design of new types of “connected” devices, 59 percent said that it is their own responsibility to ensure the devices you are using have been secured.

Also Read: WhatsApp Designs Its Business Communication App for Apple Users

Around 87 percent of the consumers are concerned that retailers will misuse or improperly distribute their information.

“It’s clear that organisations are still prioritising their bottomline ahead of consumer expectations and concerns, despite the opportunity to use effective cyber security strategy to build consumer confidence and engagement,” says Akhilesh Tuteja, KPMG Global Co-Leader, Cyber Security. (IANS)

Next Story

OnePlus Plans To Bring Premium Technology for Offline Users in India

The company is also mulling to inaugurate its largest and one-of-its-kind Experience Centre, spanning 16,000 sq ft, in Hyderabad soon

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OnePlus
This comes at a time when OnePlus is experiencing stiff competition from Apple, which has witnessed a turnaround in the highly-competitive premium smartphone market with an increased market share. Pixabay

Aiming to cement its position in the highly-congested premium smartphone market in India, Shenzhen-headquartered handset maker OnePlus is working towards bringing premium technology to more offline users in the country in 2020, a top company executive has said.

OnePlus continued to lead the premium smartphone market in India in Q3 (July-September period) last year, according to Counterpoint Research. The company, with 35 per cent market share, grew 95 per cent year-over-year (YoY).

“In 2020, we plan to scale up investments in the offline retail space and bring premium technology to more consumers who are primarily offline-based through our OnePlus Experience Centres and retail partnerships,” Vikas Agarwal, General Manager, OnePlus India, told IANS in an interview.

This comes at a time when OnePlus is experiencing stiff competition from Apple, which has witnessed a turnaround in the highly-competitive premium smartphone market with an increased market share.

According to the International Data Corporation (IDC), Apple garnered 51.3 per cent share in the Rs 35,000 and above price segment in Q3 of 2019 that ended on September 30.

According to Agarwal, “Expansion of retail presence is one of our key focus areas this year.”

OnePlus
Aiming to cement its position in the highly-congested premium smartphone market in India, Shenzhen-headquartered handset maker OnePlus is working towards bringing premium technology to more offline users in the country in 2020, a top company executive has said. Wikimedia Commons

The company is investing heavily in creating premium service experiences for customers so that every touchpoint with the brand is a remarkable experience for its users.

“The plan is to have at least over 5,000 stores across India in 2020. We are already working to open 100 new ‘Experience Centres’ in the country’s top 50 cities this year,” the OnePlus executive informed.

In terms of offline presence, the company has collaborated with large-format retail chains including Croma, Reliance Digital, Vijay Sales, Bajaj Electronics, Poorvika Mobiles and Sangeetha Mobiles.

It currently has presence in over 2,000 retail stores.

“We will continue to expand our partnerships so that our community and OnePlus enthusiasts can walk into their nearest electronic store to experience our latest products,” added Agarwal.

The company is also mulling to inaugurate its largest and one-of-its-kind Experience Centre, spanning 16,000 sq ft, in Hyderabad soon.

Asked if OnePlus also wants to bring its concept phone with colour-shifting glass technology that makes the rear camera “invisible” to India, Agarwal said: “The OnePlus Concept One phone and its camera setup are an innovative experiment in the future of smartphone design, and OnePlus’s R&D and product teams are continuing to test and extend this technology.

“A new technology application requires valuable user and market feedback, and when the time is ripe, we will introduce it to the market.”

OnePlus
OnePlus continued to lead the premium smartphone market in India in Q3 (July-September period) last year, according to Counterpoint Research. The company, with 35 per cent market share, grew 95 per cent year-over-year (YoY). Pixabay

The handset maker unveiled the OnePlus Concept One at the CES 2020 in Las Vegas.

ALSO READ: New Foldable Samsung Smartphone “Galaxy Z Flip” May Price as Low as $860

Concept One is an exploration into the future form of smartphones (including camera layouts and exterior form) and ECMF (electronics’ colour, materials and finishing), and offers a breakthrough solution to the growing problem of unsightly protruding camera designs. (IANS)