VARINDIA IT MAGAZINE

Flipkart is all set to host its Big Billion Days sale from October 3 2021:  The popular e-commerce platform   Flipkart   will be starting its   The Big Billion Days sale on October 3 . As part of the sale, several smartphones will be available with steep discounts. Additionally,   Axis Bank   and   ICICI Bank   debit and credit cardholders can get an additional 10% instant discount.   The homegrown e-commerce giant, now controlled by Walmart, however, now advancing the opening date to October 3 and the sale will now end on October 10   In a communication to employees,  Flipkart Group CEO Kalyan Krishnamurthy  said TBBD is critical for lakhs of sellers as they continue to strive to revitalise their businesses after the pandemic and noted that the event also generates a massive scale of employment across the supply chain - helping make "the festivities a reality for numerous households".... Read More

ED issues Rs 10,600-crore notice on Flipkart for forex violations:  The   Enforcement Directorate (ED)   has issued a show cause notice of about Rs 10,600 crore to   Flipkart   and its promoters for alleged violation of the foreign exchange law.   The notice under various sections of the  Foreign Exchange Management Act (FEMA)  was issued to 10 people last month that includes Flipkart, its founders  Sachin Bansal  and  Binny Bansal , among others. According to sources, the notice was issued after completion of an investigation and the charges include violation of the foreign direct investment (FDI) rules and those that regulate multi-brand retail. The company and its executives will now undergo adjudication that will be conducted by a Special Director-rank officer of the agency based in Chennai.   Proceedings under FEMA are civil in nature and the final penalty, post-adjudication, can be at least three times the amount contrave...

India’s e-commerce industry is transforming to the next era of transformation. It is like who can take maximum attention of the prospective buyer by using various technology tools. The war is between two super powers – USA and China and among Amazon, Alibaba and Walmart. To make the shopping experience more convenient, brick and mortar developers are focusing on enhancing the convenience of shopping centre automate mode. Experts say that India is poised to become one of the largest and fastest e-commerce growth markets in the next decade. The Government of India is also supporting this growth wave by permitting foreign retailers to own stakes of as much as 51% in multi-brand retail ventures, after securing government approval. The online retail sector is expected to grow at 30% a year to reach a gross merchandise value of $200bn by 2026. With 1.3 billion population, India sees a rapid growth of internet users, with 430 million people in India having access to the internet, ...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE India’s e-commerce industry is transforming to the next era of transformation. It is like who can take maximum attention of the prospective buyer by using various technology tools. The war is between two super powers – USA and China and among Amazon, Alibaba and Walmart. To make the shopping experience more convenient, brick and mortar developers are focusing on enhancing the convenience of shopping centre automate mode. Experts say that India is poised to become one of the largest and fastest e-commerce growth markets in the next decade. The Government of India is also supporting this growth wave by permitting foreign retailers to own stakes of as much as 51% in multi-brand retail ventures, after securing government approval. The online retail sector is expected to grow at 30% a year to reach a gross merchandise value of $200bn by 2026. With 1.3 billion population, India sees a rapid growth of internet users, with 430 million peop...

The market for used and refurbished mobile phones has skyrocketed in the last couple of years with technology becoming a necessity with each passing day as the population as well as the penetration of phones is extensively high. The expansion of e-commerce and retail chains has made the availability of used and refurbished mobile phones easy and the easy accessibility has triggered strong growth in India too. Experts and analysts expect the market for refurbished phones to rise by a compounded 27% over 2019 and 2020 as new players join existing online marketplaces Amazon, Cashify, Shopclues and Togofogo. In India, millions of mobile phone users still purchase second-hand phones as they prefer buying refurbished or used phones with the features they need in less price than settling for a new phone at a comparatively higher price with lower specifications. Refurbished mobile phones category is growing at 400% year-on-year and its contribution in overall mobile phone sales has a...

Absolutely it has proved again by the battleground in the space of e-commerce. It is among the top US based multinationals outside of USA between Walmart and Amazon, each of which lost out on the world’s largest e-commerce market - China. There are other significant shareholders in the company include early investor Accel Partners, South African media conglomerate Naspers and US-based online marketplace eBay. Walmart and Alphabet are seen joining forces once again as they seek to take on Amazon’s growing retail clout, this time in a market outside the US. Walmart will acquire about a 60 percent stake in Flipkart, while Alphabet will get a roughly 15 percent stake in the online marketplace for about $3 billion, one of the sources said. US retailer Amazon is Flipkart’s largest online competitor in India, though Flipkart has the biggest market share. Amazon was also reportedly interested in a Flipkart buyout, which would give it control of around 90% of the market. If the Walmart...

There is a literally financial turf war among two world's biggest retail giant of America Walmart's and Amazon in India. Walmart is closed the deal with 75% stake in Flipkart, amidst the speculations of exits of co-founders of the SoftBank-backed e-commerce marketplace.The biggest e-commerce business in India has closed for $15 billion.The sale values Indian e-commerce market leader at around $20 billion. With this India has become the main battleground for Walmart and Amazon, each of which lost out on the world’s largest e-commerce market - China. A question comes why these two global giants are targeting India as a opportunity geography, reason could be of population of 1.3 billion that is expected to surpass China’s in the coming years. Amazon reportedly offered to buy a 60% stake in Flipkart on Monday, a deal that would have included $2 billion to cover the “breakup fee” Flipkart would have had to pay Walmart for pulling out of the deal. Amazon declined to issue a...

Every opportunity comes with a cost. One thing that comes to my mind is that if someone had developed one App with a cost, why he will give his customers free of cost. You are using the App or services which means that you are the first customer. You are the data and asset of the App developing company. They may not do any direct business with you but your information/data could make the App development company the next millionaire or billionaire. For instance, see the business model of Facebook, they acquired WhatsApp and now WhatsApp got very popular with the power of instant messaging and have entered into the payment business after they saw good customer base. They may even move into banking if the payment business becomes a success. After you are used to the communication method, it becomes difficult to leave a technology behind. If WhatsApp wants to charge a certain price (may be a small amount) for using its App, I am sure at least there will be 70% conversion rate. It...

New technologies that are poised to redefine our economy. Such as, Blockchain is a technology for a new generation of transactional applications that establishes trust, accountability and transparency while streamlining business processes. A blockchain has two main concepts. A business network, where members exchange items of value through a ledger, which each member possesses and whose content is always in sync with the others. It is the most disruptive technology of this decade.Blockchain technology market size will be worth 2.3 billion by 2021. A blockchain is a shared, encrypted ledger that is maintained by a network of computers. It's like a giant spreadsheet shared by many, that shared by multiple people, better known as blockchain, has the potential to eliminate huge amounts of record-keeping, save money.Blockchain is getting implemented across industries and professions. Several technology companies have already moved into this area, including Microsoft with the...

Flipkart Group (“Flipkart”) has announced an investment - a mix of primary and secondary capital - from SoftBank Vision Fund (“Vision Fund”). This is the biggest ever private investment in an Indian technology company, and will make the Vision Fund one of the largest shareholders in Flipkart.  The investment is part of the previously announced financing round, where Flipkart had raised capital from three of the world’s premier technology companies - Tencent, eBay and Microsoft. After this financing round, Flipkart will have in excess of $4 billion of cash on balance sheet.... Read More

In 2016, the renewed smartphone market was a $17 Billion market with customers selling 120M used smartphones at an average value of $140 per device. It is estimated that it represents a 7% of total smartphone sales.at the same time refurbished market is booming in India . Flipkart is also looking to organise the "unorganised" refurbished market of India, and build it too. The selling of refurbished smartphones to start from Diwali and will be sold on the online marketplace and offline retail stores, for which discussions have been held with distributors. Flipkart will use its logistics arm Ekart for deliveries.... Read More

After six months of negotiations, the e-tailer giant, Snapdeal has closed all talks with Flipkart about its merger. According to the news report, a company spokesperson has said that the company has been exploring strategic options for the past several months, but it has now decided to follow an independent path. Snapdeal has always focussed on creating a life-changing experience for the buyers and sellers and to take it further. The company is expected to be financially self-sustainable with the sale of certain non-core assets..... Read More

Snapdeal’s board has approved its competitor Flipkart’s revised takeover offer of up to $900 million. The announcement of approval has also brings to an end the long-delayed merger talks that began almost a year ago with Snapdeal sending feelers to Flipkart.  According to the reports, The Snapdeal board will now consult other shareholders, and the deal is likely to formally conclude early next month.  Snapdeal, which posed a challenge to Flipkart’s leadership in its prime, began losing traction after Amazon doubled down on its India expansion plans. Investors’ reluctance to pump more money into the troubled e-tailer decelerated it even more, forcing it to opt for a merger with .... Read More

The new Moto E family, Moto E4 Series come with extra power to meet the requirements and make the smartphone experience smarter. With sharper looks and major upgrades, they deliver the things you want – all day battery, outstanding display and advanced camera capabilities – at just the right price. Moto E4 Plus, outfitted with a vibrant, 13.97 cm (5.5”) HD display wrapped in smooth metal, it will be hard to put it down. With a 5000 mAh battery, you can go longer without worrying about recharging for up to 48 hours. Moto E4 Plus comes with the 10W rapid charger, which gives you hours of battery life in minutes of charging. The Moto E4 Plus comes with the dual SIM slots and lets you store as much as you want on the 32 GB internal storage that’s expandable up to 128 GB with a dedicated MicroSD .... Read More

Flipkart's Gridlock Hackathon, a one-of-a-kind initiative to crowdsource innovative, implementable solutions from the tech community and concerned citizens, that could help ease Bengaluru’s perennial traffic problem has seen participation from 400 companies.  The initiative was announced as part of the ‘Month of Innovation’ at Flipkart, a part of its 10 year anniversary celebrations.  Gridlock Hackathon was announced on 7 June and concluded the online submissions on July 2, 2017. The contest witnessed close to 3,000 registrations including over 1,000 teams. The top 10 entries will be shortlisted and invited to present their solutions on July 8 to the panel of esteemed jury comprising Binny Bansal, Group CEO, Flipkart; Sridhar Pabbisetty, CEO, Namma Bengaluru Foundation; and Abhishek Goyal, DCP, Traffic East Division, Bengaluru City.  The jury will pick the best 3 ideas judged on parameters like impact, feasibility, scalability, sustainability, and complete...

Flipkart, India’s largest e-commerce marketplace, has collaborated with HP to offer Intel Core i3 Windows 10 laptop at Rs. 36,000, for as low as Rs. 999 per month.  By availing a 36-month EMI option, an industry first; on Flipkart, consumers will be able to buy a full-fledged laptop from HP, powered by a 6th Generation Intel Core i3 Processor, and Windows 10 OS. This collaboration is the companies’ effort to tap college students and first-time PC buyers. Flipkart has also partnered with ICICI Bank and CitiBank to provide hassle-free financing options to consumers.  Speaking on the collaboration, Amitesh Jha, VP - Electronic Devices, Flipkart said, “We are delighted to collaborate with HP, Intel and Microsoft to make this unique proposition a reality. With Flipkart’s wide market reach combined with an industry-first affordable 36-month EMI option, we are certain that this offering is a winning combination and will strike a chord with our customers reinforcing our un...

Xiaomi has launched a range of accessories in India, including Mi Wi-Fi Repeater 2, Mi Bluetooth Speaker Mini, 10,000mAh Mi Power Bank 2, and 20,000mAh Mi Power Bank 2.  Mi Wi-Fi Repeater 2 delivers fast, stable connections for up to 16 devices, and has two built-in high-performance PCB antennas to expand router signal range and boost download speeds. That can be easily adjusted at a 180° rotation, Mi Wi-Fi Repeater 2 takes up minimal space, while eliminating Wi-Fi dead zones. The Mi Home app identifies, analyzes and resolves Wi-Fi issues easily. The USB connector on Mi Wi-Fi Repeater 2 gives multiple power possibilities. Simply plug-and-play with power sockets, power strips, power banks, or laptops to power up.  Mi Wi-Fi Repeater 2 is compatible with most popular router brands, and will be available exclusively on Mi.com and Mi Home at Rs.999 from June 20, 2017.  The Mi Bluetooth Speaker Mini is small in size, but big on sound. The smooth metal housing ha...

Alcatel has introduced the A3 10’’ tablet for Rs.9,999 in India. The A3 10 is a 4G LTE- supported device and will be now available exclusively at Flipkart from 15th June. Praveen Valecha, Regional Director, Alcatel India, said, “The new A310 was designed to provide our users with a complete immersive experience. The tablet comes with an array of features that are unprecedented at this price and shall change the shape of this segment entirely.” Bipul Kumar, Category Head, Flipkart, added, "The new tablet from Alcatel looks like a potential game-changer. We have had fruitful association with Alcatel in the past, with their innovative products and our wide reach making it an ideal partnership. I believe the new A3 10 is a fantastic offering for our consumers." Read More

Motorola has announced that the Moto G (3rd-Gen) and Moto G Turbo edition will now also be available on Amazon.in . Motorola continues to give its customers the p ower to choose  and in line with this philosophy, apart from being on Flipkart , the Moto G range will also be available on Amazon.in. While the 8+1GB variant of the Moto G (3rd-Gen) will be available by the end of the week, you can go ahead and order the 16+2GB variant of the device in white and black.  All variants of the two models will be sold with the Moto G (3rd- Gen) starting at INR9,999 and Moto G Turbo edition starting at INR12,499. In addition to this, there are exciting EMI offers on both the products that customers can avail... Read more

Micromax Informatics expands its portfolio with Canvas Fantabulet that sports a 6.98-inch HD IPS screen. It has a display with a resolution of 1,280×720 pixels along with dual-box speakers deeply integrated with DTS Sound Technology, making it an entertainment powerhouse for a complete audio-visual experience. Vikas Jain, Co-Founder, Micromax Informatics , said, “We ignited the phablet category with the launch of Canvas range of devices which proved to be extremely popular among the consumers. With the launch of Canvas Fantabulet, we are yet again pioneering a new category that will change the way people use smartphones making it their first choice for consumption and productivity needs. The launch comes at the most appropriate time when mobile internet is on the rise and there has been persistent increase in demand for larger screens and video consumption.” Read more