Xiaomi Says It Sold Over 2 Million Smartphones in India in Q3 2016

Xiaomi Says It Sold Over 2 Million Smartphones in India in Q3 2016
Xiaomi claims over 2 million smartphones sold in India in Q3
Redmi 3, Redmi 3 Note are some of the popular phones from Xiaomi
Xiaomi claims it achieved over 150 percent year-on-year growth
Xiaomi has claimed that it has sold over 2 million smartphones in India in the third-quarter of 2016. The Chinese company revealed the news via a tweet. Xiaomi also claimed that it achieved over 150 percent year-on-year growth from Q3 2015 to Q3 2016.

The figures claimed by the Chinese company are impressive considering that the third-quarter is yet to be over. In October, the company sold 1 million smartphone units in just 18 days. This was announced by CEO Lei Jun in an open letter to employees.

A recent IDC report had claimed that the Xiaomi Redmi Note 3 and the Redmi 3S series “fuelled the online shipments” to a large extent for the company. The IDC report had also claimed that Xiaomi for the first time made it to the top five smartphone vendors list based on shipments. The research firm had said that Xiaomi grew over 2.5 times over the same period last year.
Xiaomi soon after its Diwali sale had announced that it managed to sell half a million smartphones in just three days. The Redmi 3S (along with Redmi 3S Prime), on the other hand, was also the top-selling product on Flipkart during its Big Billion Days Sale while Redmi Note 3 was the best-selling smartphone of Amazon’s Great Indian Festival sale.
Recently, Flipkart, one of the online retail partners of Xiaomi, had claimed that it managed to sell one million Redmi 3S and Redmi 3S Prime smartphones in India. The smartphone was launched in the country in August this year, and was made available on Mi.com and Flipkart online.

Tags: Xiaomi, Xiaomi Mobiles, Mobiles, Android, Xiaomi Redmi Note 3, Xiaomi Redmi 3S


Ringly Raises $5.1 Million to Create More Gadget Jewelry

012615 ringly

With ideas like the Smarty Ring winning support in crowdfunding campaigns, the market for mart jewelry has already been established.

But a company called Ringly, also known for a ring that lights up to signal incoming notifications, plans to push that market to the next level.

Now, after a successful $5.1 million round of Series A funding, Ringly is ready to develop even more wearables beyond its current offerings.

The influx of investment at Ringly comes primarily from Andreessen Horowitz, according to the company.

Other new investors in the company include High Line Venture Partners, Silas Capital, PCH, and more.

Ringly also received follow-on investments from First Round Capital, Mesa+, Social+Capital, and Brooklyn Bridge Ventures.

Since releasing its first wearable products, Ringly has grown from a group of three co-founders to a company of 12 people, its blog notes.

On the official Ringly blog, founder and CEO Christina Mercando writes:

“I didn’t set out to start a wearable technology company. In fact, when I first had the idea for Ringly, the term ‘wearables’ hadn’t even hit mainstream. I was simply tired of worrying where my phone was — at dinner, meetings, parties, drives, picnics, hikes, everywhere — for fear I’d miss something important.”

Ringly launched with a line of four wearable rings. These rings look the equivalent of some vintage costume jewelry. They have a simple setting with an 18k gold finish and a rather large stone, either a precious or semi-precious gem.

Remember, Ringly founder Mercando said that the company was founded with a fashion-first initiative.

In her blog post, Mercando adds:

“I’m not against the term wearables; it’s an important, growing category and perhaps that is where we fit in the world of tech. But we’re also a piece of jewelry that stands on its own?—it’s a mistake to only think of Ringly as a wearable.”

There’s a discreet light on the side of the ring that notifies users of incoming calls, texts, or any other types of alerts. A mobile app that corresponds with the Ringly ring can be set to alert users for any type of notification.

Ringly can also send a slight vibration to the finger that’s wearing the device when a notification has arrived.

The initial line of four rings was followed by a limited edition ring, too. All five are in the same style. All the rings are meant to be worn by women.

With the infusion of capital, Ringly hopes to expand its line to include more wearable devices.

In her post, Mercando mentions “a shirt that tracks your heart rate while you’re at the gym” and “a bathing suit that monitors sun exposure at the beach.” But she gave no further specifics about what products the company might unveil next.

Though she did hint on a next phase of growth for the company and suggested the next step in the industry would involve diversification of offerings.

TechCrunch reports Ringly may have set its sites on a diversified selection of rings, and perhaps bracelets next.

Image: Ringly

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Sony Announces It Has Shipped 47.4 Million PS4 Consoles

Sony Announces It Has Shipped 47.4 Million PS4 Consoles


  • Sony’s latest financial results show a dip in shipped PS4 consoles
  • The company still expects to ship 60 million consoles by March 31, 2017
  • This would include the PS4 Pro that’s launching on November 10

Sony has shipped 47.4 million PS4 consoles by the end of September 30 of this year. The news comes via the company’s latest financial results.

Compared to the same quarter last year, July to September 2015 saw the company ship four million PS4s. This year for the same quarter it is 3.9 million – implying a drop of 100,000 units.

(Also see: PlayStation VR: Almost There but Not Just Yet)

Nonetheless, it’s not gloom and doom just yet. The company is forecasting to ship 60 million consoles by the end of March 31, 2017. Considering that the PlayStation VR (PS VR) headset was met with a solid public reception and the souped up iteration of the PS4, the PS4 Pro is yet to hit the shelves, Sony shouldn’t be too far from the mark.

(Also see: The PS4 Pro Won’t Solve the PS4’s Biggest Problem)As for India, there’s no clarity as to when PS VR or the PS4 Pro would hit the shelves. Though if we were to take a guess given Sony India’s actions in the past, we’d peg them for a January release at Rs. 39,990 each. Reason being, both occupy the $399 price – which is what the PS4 was at launch. This translated to a Rs. 39,990 price. It will be interesting to see if foreign exchange fluctuations result in a higher price though.

Tags: PS4, PS4 Pro, PS VR, PlayStation VR, Sony, PS4 install base, PS4s sold

Mobile Phone Production in India May Reach 500 Million in 2 Years: DoT

Mobile Phone Production in India May Reach 500 Million in 2 Years: DoT

Mobile Phone Production in India May Reach 500 Million in 2 Years: DoT
Mobile phone manufacturing in the country may reach 500 million units in coming two years on the back of good base of talent and an incentive policy, a top Department of Telecom (DoT) official said Sunday.

This year, India produced 100 million phones as compared to 45 million last year.

“The number of phones being manufactured was 10 million sometime back (which increased) to 45 million last year and 100 million this year. The time has come when we will reach 500 million, may be in 2 years,” Telecom Secretary J S Deepak said in New Delhi.

(Also see: Mobile Phone Production in India Reaches 100 Million)

He was speaking on the second day of a seminar on Telecom and Broadcasting theme – ART (Adjudication, Regulation, Telecommunication) of Convergence, TDSAT.

He added that apart from phones, the differential tariff is helping domestic manufacturers to get into other areas like medical electronics, consumer electronics as well as broadband equipment, set up boxes.

“Today with base of talent and incentive policy, India is becoming a global hub for manufacturing of phones and specially low-end phones,” he added.

The government is making efforts to reduce imports of electronic products and meet requirement of domestic market through indigenous production.
The government has received proposals worth Rs. 1.13 lakh crore in the electronics manufacturing segment from major brands under the modified special incentive package scheme (M-SIPS).

M-SIPS has been extended till July 2020, which was earlier valid till July 2017. The scheme offers capital subsidies to large investments in electronics manufacturing and system design.

The Secretary also said that making high-speed broadband available to individuals in rural areas is a priority of the government.

According to a survey, he said, while Internet users may have touched 400 million, broadband users are in the range of 40-50 million and growing very slowly in rural areas.

“May be 7 percent people in rural areas use Internet.

More importantly, it’s the issue of digital divide. We have only 14 percent rural households which are digitally literate…this needs to change,” he said.

Tags: DoT, Mobiles, Telecom


Microsoft CEO Satya Nadella Received $18 Million in 2016 Pay

Microsoft CEO Satya Nadella Received $18 Million in 2016 Pay


  • Nadella received about $5.66 million in salary and bonus
  • He also got $12 million as stock award
  • Satya Nadella took over as Microsoft CEO in 2014

Microsoft Corp. Chief Executive Officer Satya Nadella’s reported compensation fell 3.3 percent to $17.7 million (roughly Rs. 117 crores) in the software maker’s latest fiscal year ended June 30.

Nadella received about $5.66 million (roughly Rs. 38 crores) in salary and bonus and a $12 million (roughly Rs. 80 crores) stock award, according to a preliminary proxy statement filed Monday. About half of the shares will vest in 2018 if Microsoft achieves targets including revenue, operating income and a number of commercial cloud subscribers – and its stock outperforms 60 percent of companies in the Standard & Poor’s 500 Index. The remainder will vest in full by 2019 if he remains on the job.

Microsoft’s board moved to tie part of Nadella’s annual stock grant to targets and cut back its discretion over cash bonuses after more than a quarter of voting shareholders rejected its executive compensation program at the company’s last two annual meetings. In talks with directors, investors voiced concerns about excessive payout limits for bonuses and stock awards, and insufficient disclosure of factors used to evaluate performance, the filing said. Companies in the S&P 500 received on average 91 percent support for their pay programs in 2015, according to data compiled by Bloomberg.

Pete Wootton, a spokesman for the Redmond, Washington-based company, declined to comment beyond the filing. Microsoft shares increased 15 percent in the 12 months ended June 30, compared with a 1 percent increase in the S&P 500.

When he was named CEO, Nadella received a stock award valued at $59 million that will vest in three increments in 2019, 2020 and 2021 if Microsoft’s total returns to shareholders exceed 60 percent of companies in the S&P 500 in the five prior years. The face value of the award was disclosed as part of his 2014 compensation. The company’s total return has increased 70 percent since Nadella took the job in February 2014, compared with a 30 percent increase in the index.

Kevin Turner, who left his job as chief operating officer in July, was the second-highest paid executive officer in fiscal 2016 with $13 million.

© 2016 Bloomberg L.P.

Tags: Satya Nadella, Microsoft, PC, Laptops, Internet


Paytm Parent One97 Says MediaTek to Invest $60 Million

Paytm Parent One97 Says MediaTek to Invest $60 Million

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.

© Thomson Reuters 2016
Disclosure: One97 is an investor in Gadgets 360.

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Tags: Paytm, Mediatek, Apps, Internet, India


BlackBerry to Raise $605 Million From Shareholder Fairfax, Others

BlackBerry to Raise $605 Million From Shareholder Fairfax, Others

BlackBerry to Raise $605 Million From Shareholder Fairfax, Others


  • BlackBerry will also redeem $1.25 billion worth of outstanding debentures
  • The Canadian company now holds just a sliver of the global market
  • BlackBerry said last month it would stop making its Classic model

Troubled smartphone maker BlackBerry said it would raise about $605 million (roughly Rs. 4,062 crores) by selling convertible debentures to shareholder Fairfax Financial Holdings and other investors.

The Canadian company will also redeem on September 2 roughly $1.25 billion (roughly Rs. 8,393 crores) worth of outstanding debentures carrying a coupon of 6 percent, it said on Friday.

The new debt that BlackBerry plans to issue will have a coupon of 3.75 percent and will be due in November 2020.

If all of the new debt is converted into stock, it will represent about 11.57 percent of BlackBerry’s outstanding shares, the company said.

FairFax, led by well-known contrarian investor Prem Watsa, is BlackBerry’s second largest shareholder with a stake of about 8.9 percent, according to Reuters data.

Once a dominant force in smartphones, BlackBerry now holds just a sliver of the global market.

BlackBerry said last month it would stop making its Classic model, raising further doubts about the future of the company’s money-losing handset business as it shifts focus to software.


In July, the company unveiled a second Android-based handset, which combines Alphabet’s popular software and broad app catalog with its security and productivity features at a lower price.

BlackBerry Chief Executive John Chen has expressed confidence that the company’s trimmed-down handset business can meet its September target to turn profitable.

Analysts, however, have urged the company to sell or shut down the unit.

BlackBerry’s US-listed shares were little changed at $7.96 in afternoon trading.

© Thomson Reuters 2016

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Tags: BlackBerry, Mobile, Smartphone



SecureWorks Raises $112 Million in Year’s First Technology IPO

SecureWorks Raises $112 Million in Year's First Technology IPO

Dell Inc’s cyber-security unit SecureWorks Corp raised $112 million in the first US initial public offering of a technology company in 2016, less than it had hoped for, amid investor skepticism over its profit margins and prospects.

Market jitters and fluctuations in technology stocks have kept investors skittish about the sector. This time last year, six technology companies had already priced their IPOs, raising a total of $1.6 billion, according to Thomson Reuters data.

SecureWorks priced 8 million shares on Thursday at $14, missing its previously indicated $15.50-$17.50 range, according to a person familiar with the matter. The company was originally aiming to price 9 million shares.

The source asked not to be identified ahead of an official announcement. SecureWorks did not immediately respond to a request for comment.

Technology investors are hoping SecureWorks will open the door for other IPOs in the sector. Technology companies such as storage provider Nutanix Inc have kept their IPO plans on hold, waiting for a more favourable market environment.

In November, payment provider Square Inc completed an IPO that valued it at $2.9 billion, nearly half of the $6 billion valuation that private investors had previously assigned to it.


Founded in 1999, SecureWorks helps small- and medium-sized businesses manage their security services and protect their networks. Large technology and services firms have bought many of SecureWorks’ rivals in recent years such as Solutionary, Trustwave and SilverSky. It has 4,200 clients in 59 countries.

Cyber-security companies captured investors’ attention last year, amid a spate of high profile hacker attacks. Nevertheless, several of the cyber-security companies that went public in recent years have faltered in the public market. Firms such as FireEye continue to trade under their 2013 IPO price.

Several security companies remain on deck for an IPO. SoftOptiv Security LLC and Blue Coat Systems Inc have both hired investment banks for IPOs expected to come later this year.

The IPO comes as its parent company Dell Inc, which purchased SecureWorks in 2011, is awaiting approval for its proposed acquisition of EMC Corp. SecureWorks has said it will use proceeds from the offering to fund growth initiatives and not support Dell’s own business.

SecureWorks shares are scheduled to start trading on Nasdaq on Friday under the symbol “SCWX.”

Bank of America Corp, Morgan Stanley, Goldman Sachs Group Inc and JPMorgan Chase & Co are among the underwriters for SecureWorks’ IPO.

© Thomson Reuters 2016

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Tags: Apps, Dell, Internet, Laptops, PC, SecureWorks


Yahoo Investigating Claims of Huge Data Breach Affecting 200 Million Accounts

Yahoo Investigating Claims of Huge Data Breach Affecting 200 Million Accounts


  • Hacker also responsible for selling LinkedIn data dumps earlier
  • Yahoo’s exposed considered to be really old
  • Verizon recently bought Yahoo for roughly Rs. 32,500 crores

After a hacker going by the name of Peace put up for sale a cache of what’s alleged to be 200 million stolen Yahoo user account credentials earlier this week, the Internet company says it has started investigating the matter, claiming that it is taking this breach “very seriously”.

Peace has listed an advert on the TheRealDeal marketplace claiming that about 200 million Yahoo accounts are up for sale for three Bitcoins (roughly Rs. 1,07,000). The cache supposedly contains usernames, passwords, and dates of birth, and appear to be hashed by the md5 algorithm, Motherboard reports. The hacker has also submitted a way to unscramble the hashed credentials as well, and claims the cache contains records that are from “2012 most likely.”

Yahoo has confirmed that it is aware about this data breach, and is investigating it. “Our security team is working to determine the facts. Yahoo works hard to keep our users safe, and we always encourage our users to create strong passwords, or give up passwords altogether by using Yahoo Account Key, and use different passwords for different platforms,” the company told Motherboard.

Peace is also known for selling data dumps of other major tech companies like MySpace and LinkedIn. This data is especially useful for phishers who look to monetize through illegitimate ways. Motherboard got hold of a small sample of 5000 Yahoo accounts, and when it tested about a hundred of them; it found out that most IDs seem to be inactive, disabled, or discontinued.

Because of this, it’s being speculating that either the data is too old to be considered valuable or the advert is just fake. Yahoo gave away very little about the investigations and only said that it was “working to determine the facts”. If real, affected users can expect password reset links to be sent to them at some point.

(Also see: When Yahoo Refused to Buy Google for $1 Million)

Verizon recently bought Yahoo’s core business for $4.83 billion (roughly Rs. 32,500 crores). Yahoo will be rolled into Verizon’s AOL operations and CEO Marissa Meyers will be working again with AOL CEO Tim Armstrong, who worked with Mayer at Google for years and tried unsuccessfully to convince her to combine the two companies when they both remained independent.

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Tags: Data Hack, Internet, Peace, Yahoo, Yahoo Accounts Hack


BSE plans to hire banks for $150 million IPO

Deutsche Bank, Motilal Oswal and SBI Capital Markets will also be hired as bookrunners. Photo: Mint

Deutsche Bank, Motilal Oswal and SBI Capital Markets will also be hired as bookrunners. Photo: Mint

Mumbai: BSE Ltd, India’s second-biggest exchange, plans to hire Axis, Edelweiss, Jefferies and Nomura as joint global coordinators for a $150 million initial public offering in India, IFR reported, citing two sources close to the transaction.

Deutsche Bank, Motilal Oswal and SBI Capital Markets will also be hired as bookrunners, reported IFR, a Thomson Reuters publication.

BSE will file a draft prospectus for the IPO by next month and plans to launch the offering before 31 March 2017, IFR added. Reuters