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India smartphone shipments forecast down to 170M units in 2021

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The current Covid wave has hit the smartphone players in India and the market is likely to see a decline of nearly 12 million units from 182 million to 170 million — for the year, a new report forecast on Thursday.

India’s smartphone market will definitely witness a significant dip of more than 30 per cent in the ongoing second quarter (April-June period) and the festive season and pent-up demand are expected to drive the market in Q3 and Q4, according to Counterpoint Research.

Consumers will prefer online channels for buying smartphones due to Covid-19 fears.

India’s smartphone shipments grew 23 per cent (on-year) in Q1 to reach over 38 million units.

“The current COVID-19 wave will have an impact on the coming quarters, with Q2 2021 being impacted the most. We have cut our Q2 2021 forecast by more than 30 per cent compared to the previous forecast,” the report showed.

“The uncertainty will prevail in the market till June or July before we see demand coming back strongly during the festive season in late Q3 and early Q4,” it added.

The demand for smartphones has already been impacted in April (and now May) due to a surge in COVID cases and restrictions/lockdown in various states.

“We believe that the shipments will witness a dip of 35-40 per cent of the BAU (business-as-usual), which corresponds to 7-8 million shipments in April. With the COVID rate, still not declining, it is not likely that the market would return to a business as-usual state before Q3 2021,” said Counterpoint Research.

“We have reduced our smartphone forecast for Q2 2021 to 26 million units from 39 million units, our previous forecast”.

Overall, the Indian smartphone market is estimated to grow by 12 per cent (YoY) to reach 170 million units in 2021.

“The online segment grew in 2020 despite the overall market registering negative growth. Online channels will be leveraging the festive season sales to drive the market. Device affordability will be a major factor in driving up the volumes,” the report said.

The year will also see the adoption of 5G devices in India.

“In 2021, the market for 5G devices will grow by over 8 times to reach 31 million units in 2021 which will make up 18 per cent of the overall market,” the report added.

The price of entry-level 5G devices has come down by 40 per cent in the last six months and the cheapest phone with 5G now cost almost Rs 15,000.

“We expect this price to go below Rs 15000 by Q3 2021,” the report said.

source: The Statesman

Business

Delhi: Businesses can now remain open 24×7, over 300 applications cleared by L-G

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Photo by Rehan Fazal on Unsplash

From restaurants to transport services and BPOs to online delivery services, all those who apply for exemptions will be allowed to operate 24×7 in Delhi starting next week, with Lieutenant Governor V K Saxena approving the proposal to exempt 314 such places to operate all day long, some of them pending since 2016, officials said.

“The L-G has directed that notification to this effect be issued within seven days. The decision of providing exemption under Sections 14, 15 & 16 of the Delhi Shops & Establishment Act, 1954, is expected to boost employment generation and promote a positive and favorable business environment that is a prerequisite for economic growth. The decision will also provide a fillip to the much desired ‘nightlife’ in the city,” said an official.

Source: IndianExpress

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Business

Swiggy Instamart figures, Mumbaikars ordered 570 times more condoms in the last one year

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Customers are also ordering medical-related things through online shopping platforms. In metros like Mumbai, Hyderabad, Delhi, and Bangalore, people are buying goods online in large numbers. People living in metro cities including Bengaluru, Delhi, and Mumbai ordered an average of 6 million eggs in the last year.

These days people are doing online shopping fiercely in the country. Through Grocery Service Platforms, the goods of need are easily reaching people’s homes. From vegetables to medicines, just a few clicks on the smartphone are reaching people’s doorsteps. According to a survey, Swiggy Instamart has provided service to more than 9 million users between June 2021 and June 2022. In metros like Mumbai, Hyderabad, Delhi, and Bangalore, people are buying goods online in large numbers.

Healthcare products orders

Customers are also ordering medical-related things through online shopping platforms. According to a survey, Mumbaikars have ordered 570 times more condoms in the last 12 months. At the same time, in 2021, Instamart received orders for about two million sanitary napkins, menstrual cups, and tampons. Apart from this, a lot of orders have also been received for grocery items.

56 lakh packets of noodles ordered

According to the survey, between April and June last year, there was a 42 percent increase in the demand for ice cream in these metro cities. It was also learned that most of the orders were placed after 10 pm. In metro cities, people have ordered 5.6 million packets of instant noodles. In Hyderabad, users ordered around 27,000 bottles of fresh juice during the summer months.

60 lakh eggs ordered

The demand for eggs has increased manifold in the last two years. People living in metro cities including Bengaluru, Delhi, and Mumbai ordered an average of 6 million eggs in the last year. According to the report, customers from Bangalore and Hyderabad ordered the maximum number of eggs for breakfast. At the same time, people of Mumbai, Jaipur, and Coimbatore have ordered the maximum number of eggs online at the time of dinner.

Demand for dairy products

There has been a huge jump in orders for both tea and coffee. According to the report, there has been an increase of 2,000 percent in its demand. At the same time, 3 crore orders of milk have come for milk. People from Bangalore and Mumbai have placed more orders in the morning. Regular milk, full cream milk and toned milk are the most ordered dairy products.

Ordering fruits and vegetables

Orders for 62,000 tonnes of fruits and vegetables have been received in the last year. With 12,000 orders, Bengaluru tops the list of organic product buyers. At the same time, Hyderabad and Bangalore together have ordered more than 290 tonnes of green chilies in 12 months. Over 2 lakh orders have been received for bathroom cleaners, scrub pads, drain cleaners, and more in the last year.

Source: Aajtak

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Brand Story

Zepto, 10-minute grocery delivery app, raises $100 million

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Only five months subsequent to dispatching, 10-minute basic food item conveyance application Zepto on Tuesday reported it has raised $100 million driven by Y Combinator, taking its valuation to $570 million.

Other than the raise money, Zepto has been developing staggeringly rapidly and is significantly increasing its client base consistently.

In the course of recent months, Zepto has extended past Mumbai by dispatching in Bengaluru, Delhi, Gurgaon, Chennai, Hyderabad, and Pune (Kolkata to follow), the organization said in an assertion.

“Financial backers are reliably deciding to back Zepto due to our top tier execution. This is giving us extraordinary energy – we’re developing at an amazing rate, clients are adoring the item experience, our center unit financial matters are solid, and we have one of the most outstanding startup groups in India today,” said Aadit Palicha, Co-Founder and CEO.

The Series C raising money round saw support from new and existing financial backers, including Glade Brook, Nexus, Breyer Capital, Lachy Groom, Global Founders Capital, Contrary Capital, and that’s just the beginning.

The round came 45 days later the organization reported its $60 million raise money in November.

Conveying food in a short time is a game-changing encounter for clients in the nation, and a few players are presently joining the race.

“We are eager to twofold down and lead this round in Zepto. They initially dispatched with an alternate model, quickly turned to speedy trade in August 2021, and are presently adding 100,000 new clients consistently, 60% of the ladies,” said Anu Hariharan from Y Combinator.

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