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News on Medial
Russians unfazed by higher prices as iPhone pre-order demand soars
Economic Times
·
9m ago
Medial
Pre-order demand for the new iPhone in Russia is reportedly 15% higher than its predecessor, despite the fact that it is at least 50% more expensive than in the West. This is attributed to the legalization of grey or parallel imports, which allowed goods to enter the country without brand permission after Western companies imposed export bans in response to the conflict in Ukraine. Countries such as Turkey, China, India, Kazakhstan, and other former Soviet states have seen increased trade with Russia. Retailers in Russia have launched pre-orders, with prices significantly higher than in the US. Apple has not yet commented on sales and pricing in Russia.
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Post-poll pickup in capex will drive steel demand: JSW Steel CEO
Money Control
·
1y ago
Medial
JSW Steel, a steel manufacturing company in India, predicts a strong domestic demand for steel after the elections. JSW Steel plans to spend INR 20,000 crore to increase its capacity to 50 million tonnes by 2031. The company expects to finance this expansion through internal cash generation and has no plans for an equity issue. Despite a decline in net profit in Q4 due to higher coking coal prices and weaker steel prices, JSW Steel remains optimistic, as it expects a correction in raw material prices and anticipates strong steel demand in India.
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Amid Apple’s record streak in India, iPhone sales in the country hit $10bn | Company Business News
Livemint
·
5m ago
Medial
Apple Inc. achieved an 11th consecutive record quarterly revenue in India, with iPhone sales estimated at $10 billion last year. Apple's growth in India has been propelled by rising iPhone demand and a higher average selling price compared to the market. The company is expanding its presence with four new stores and tapping into enterprise markets. Analysts forecast continued double-digit growth, supported by a potential mid-range iPhone 'SE' launch and other strategic moves.
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Quick commerce feels the love as Valentine day sales surge
Economic Times
·
1y ago
Medial
Quick commerce platforms like Zepto, Swiggy, and Blinkit reported record-breaking sales on Valentine's Day. Orders for items such as flowers, chocolates, perfumes, and contraceptives surged, with Zepto experiencing a 20-25% increase compared to normal days. Swiggy Instamart saw a significant spike in sales for roses and chocolates, while Blinkit reported their highest-ever orders per minute. The average order values also increased due to higher prices in high-demand categories. These occasions are becoming key drivers for user acquisition and retention in the quick commerce industry.
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Why fixed income investors must now opt for shorter duration
Money Control
·
1y ago
Medial
balanced, resulting in stable prices. However, markets are rarely in a state of perfect equilibrium. Instead, they fluctuate as various factors impact the supply and demand for goods and services. One such factor is investor behavior. As more investors enter the stock market and increase their demand for equities, the prices of stocks gradually rise. This is because an increase in demand pushes up the price at which sellers are willing to sell their stocks. Investors are driven to invest in equities for various reasons, such as the potential for high returns and the desire to diversify their investment portfolios. Their actions and decisions collectively contribute to the overall movement and direction of the stock market. Therefore, as more investors flock to equities, their increasing demand will gradually drive up stock prices. This movement towards higher prices is a natural consequence of market dynamics and reflects the ongoing imbalance between supply and demand in the market.
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India iPhone business outpaces individual EU countries for Apple, Morgan Stanley says | TechCrunch
TechCrunch
·
1y ago
Medial
Apple's iPhone revenue in India increased by 42% YoY to $8.7 billion in 2023, with shipments growing by 39% to 9.2 million units, making India its fifth-largest smartphone market, according to Morgan Stanley. Although India's iPhone market is not yet big enough to offset declines in China, if growth continues at the same pace, India could overtake China by 2027. The demand for premium devices with higher storage capacities is driving growth in India. Apple sees India as a significant growth engine, with revenue estimated to reach $40 billion by 2032.
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Netflix India’s net profit soars 75% to INR 35 cr in FY23
Inc42
·
1y ago
Medial
Netflix Entertainment Services India LLP, the Indian arm of streaming giant Netflix, reported a 75% increase in net profit to INR 35 Cr in the financial year 2022-23. The company's operating revenue also grew by 24% to INR 2,214 Cr. The rise in revenue is attributed to an increase in subscribers and comes at a time when Disney is in talks with Reliance Industries for a potential merger in the streaming industry. Netflix reduced its subscription plan prices in 2021, leading to improved customer engagement and higher subscriber numbers in 2022.
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IOCL, BPCL, HPCL could see record profits on falling crude prices, Investec hikes target price
Money Control
·
9m ago
Medial
A decline in crude prices is beneficial for oil marketing companies (OMCs) as it reduces their input costs, allowing them to generate higher margins. As crude prices hit lows, foreign brokerage Investec predicts that OMCs could see record profits due to high marketing margins. However, potential government intervention to lower fuel prices ahead of the Maharashtra state election may impact these profits. The fall in crude prices also negatively affects oil drilling stocks like ONGC and Oil India as it squeezes their profit margins. Brent crude prices fell to their lowest levels in almost nine months due to concerns of a demand slowdown in China.
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Russia to limit only VPN services which pose a 'threat' to security
Economic Times
·
1y ago
Medial
Russia is set to block certain Virtual Private Networks (VPNs) and protocols identified as threats by a commission of experts, according to the digital ministry. VPN demand surged after Russia restricted access to some Western social media following the invasion of Ukraine. The move aligns with a 2017 law requiring VPN providers to cooperate with Russian authorities. The plan aims to filter VPN services and protocols on the mobile communication network for foreign traffic identified as a threat, but concerns have been raised about increased pressure on Russians.
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E-commerce GMV grows 5% in Q1 amidst offline retail surge; new categories adoption to slow down
Business Today
·
1y ago
Medial
In the first quarter of the fiscal year 2024, e-commerce Gross Merchandise Volume (GMV) grew 5 per cent compared to the same period in the previous year even as offline retail witnessed a more rapid expansion. The offline retail growth is attributed to increased Fast-Moving Consumer Goods (FMCG) volume and a decrease in prices, according to a new report by Redseer Strategy Consultants. Higher rural demand, particularly FMCG, and a steady uptick in urban demand too helped offline growth.
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iPhone 16 launch: Top Apple products discontinued this year
Livemint
·
10m ago
Medial
Apple unveiled its latest iPhone 16 series at the 'It's Glowtime' event. The lineup includes the iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max, all designed for Apple Intelligence tasks. As expected, Apple discontinued older models like the iPhone 15 Pro and iPhone 15 Pro Max, which were the only smartphones supporting the Apple Intelligence feature. Additionally, Apple reduced the prices of iPhone 14, iPhone 14 Plus, iPhone 15, and iPhone 15 Plus by ₹10,000. Pricing for the new iPhone 16 series in India ranges from ₹79,900 to ₹1,84,900.
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