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Paytm Parent One97 Says MediaTek to Invest $60 Million
Taiwan’s largest chip designer MediaTek is investing $60 million (roughly Rs. 402 crores) in India’s One97 Communications, valuing the payment services and e-commerce firm at about $5 billion (roughly Rs. 33,517 crores), the company said on Tuesday.

One97, which operates under the trade name Paytm, is looking to raise a total of $300 million (roughly Rs. 2,011 crores) to expand its payments and e-commerce businesses, and also to build a so-called payments bank for which it has won a permit.

The company is in talks with new as well as existing shareholders and expects to raise the remainder of the $300 million in the coming months, a spokeswoman said.

Alibaba Group is One97’s largest shareholder after the Chinese e-commerce giant and its finance arm Ant Financial Services invested last year in the company founded by entrepreneur Vijay Shekhar Sharma.

MediaTek is also a shareholder in Paytm’s competitor MobiKwik which last week sealed an up to $40 million investment from Net1 UEPS Technologies Inc.

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Tags: Paytm, Mediatek, Apps, Internet, India

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cellphone chipmaker MediaTek expects India to account for over 10 percentage share of its worldwideshipments this yr at the returned of burgeoning handset income inside the u . s . a ..

The Taiwanese firm‘s chipsets, that are utilized by organizations like Micromax and Lava, may evenelectricity over 25 models of 4G VoLTE (voice-over-LTE) handsets within the coming months in India.

“India is an crucial part of our growth tale. In 2015, we shipped four hundred million chipsets for smartphones and over 33 million were from India. This yr, we expect India to contribute over 10 percent to the shipment as the adoption of 4G LTE grows in the us of a,” MediaTek senior director and sales head ofrising markets Arthur Wang advised PTI.

He introduced MediaTek shipped one hundred sixty million LTE chipsets in 2015, up from forty millioninside the preceding yr, registering 4 instances boom.

India is one of the global‘s quickest growing cellphone markets. in step with a file by researchcompany Counterpoint, India smartphone marketplace grew 23 percentage in the first area of 2016, surpassing america to end up the second largest country in phrases of users. this is notwithstandingthe fact that worldwide sales remained flat inside the stated period.

“sales of 4G handsets is already developing in India. we are working with leading handset makers like Micromax, Lava, Karbonn, Lenovo and Lyf,” he stated. Wang similarly stated in the coming months, over 25 handset fashions with VoLTE are expected to be launched by using 10 handset maker companions in India.

VoLTE is voice calls over a 4G LTE network in preference to 2G or 3G connections which can be typicallyused. whilst 4G is usually idea to be more about downloading, streaming and net browsing, VoLTE canhelp join calls as much as two times as speedy and gives better excellent as nicely.

MediaTek competes with the likes of the us–based totally Qualcomm and Intel inside the smartphonechipset business. The company has already examined its chipsets with Reliance Jio, that is expected torelease its high–speed internet carrier (4G) later this year.

At gift, Bharti Airtel, Vodafone and idea cellular offer 4G services within the u . s ..

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Tags: 4G, LTE, MediaTek, Mobiles, Smartphones, tablets

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Paytm Parent One97 Says MediaTek to Invest $60 Million

MediaTek Expects India to Account for 10 percent of Its 2016 Shipments