Officials from the Enforcement Directorate (ED) will also probe the spot-fixing case to find out if there was any money laundering involved. Meanwhile, officials from the Board of Control for Cricket in India's anti-corruption unit will meet with the Delhi Police today. The board's chief N Srinivasan told the media yesterday that that an internal inquiry will be conducted into the spot-fixing scandal.
Sunday, 19 May 2013
ZTE India to launch 5 smartphones, eyes No. 3 spot
ZTE, which supplies handsets to Indian handset-makers such as Micromax and Karbonn and telecom operators Reliance Communications and Idea Cellular, has set a target of selling one million smartphones in the first year.
"With our foray into the open handset market in India, we want to become a dominant player here and be among the top 3 in the next three years....handsets already contribute 10 per cent of our revenues here," ZTE India CEO Xu Dejun said.
As a part of the partnership, Calyx, a real estate player will be responsible for distribution, sales and marketing of ZTE phones in India.
"We will initially focus on five states - Maharashtra, Goa, Gujarat, Madhya Pradesh and Chhattisgarh. ZTE devices will be available pan-India by October," Calyx Telecommunications Executive Director Gaurav Somani said.
He added that the company will invest about Rs 500 crore in getting the inventory, marketing and distribution of ZTE products.
"At a later stage, we are also looking at setting up ZTE My Shop to sell the products," Somani said.
ZTE is introducing five models, priced between Rs 5,799 and Rs 14,999, followed by the introduction of tablet PCs by Diwali.
"Our tablets will be in the premium category based on 3G or 4G technology and we are looking at launching them by Diwali," Xu said.
According to Cybermedia Research, smartphone sales in the country stood at 15.2 million in 2012 against 11.2 million in 2011, a growth of 35.7 per cent.
Samsung led the pack with 43.1 per cent share, followed by Nokia (13.3 per cent) and Sony (8.2 per cent)
"With our foray into the open handset market in India, we want to become a dominant player here and be among the top 3 in the next three years....handsets already contribute 10 per cent of our revenues here," ZTE India CEO Xu Dejun said.
As a part of the partnership, Calyx, a real estate player will be responsible for distribution, sales and marketing of ZTE phones in India.
"We will initially focus on five states - Maharashtra, Goa, Gujarat, Madhya Pradesh and Chhattisgarh. ZTE devices will be available pan-India by October," Calyx Telecommunications Executive Director Gaurav Somani said.
He added that the company will invest about Rs 500 crore in getting the inventory, marketing and distribution of ZTE products.
"At a later stage, we are also looking at setting up ZTE My Shop to sell the products," Somani said.
ZTE is introducing five models, priced between Rs 5,799 and Rs 14,999, followed by the introduction of tablet PCs by Diwali.
"Our tablets will be in the premium category based on 3G or 4G technology and we are looking at launching them by Diwali," Xu said.
According to Cybermedia Research, smartphone sales in the country stood at 15.2 million in 2012 against 11.2 million in 2011, a growth of 35.7 per cent.
Samsung led the pack with 43.1 per cent share, followed by Nokia (13.3 per cent) and Sony (8.2 per cent)
The rupee weakened by 10 paise to 54.98 against the dollar
The rupee weakened by 10 paise to 54.98 against the dollar on the Interbank Foreign Exchange market in early trade today.
Increased demand for the dollar from banks and importers mainly put pressure on the rupee, dealers said.
A firm opening in the domestic equity market and easing dollar against other currencies overseas, however, capped the fall, they added.
The rupee had lost 11 paise to close at 54.88 against dollar in the previous session on Friday due to sustained demand for the US currency for oil and gold related payments.
Will India and China go beyond niceties?
The Indo-China joint statement expected on Monday is not likely to include an affirmation of the One China policy that recognises Tibet and Taiwan as part of China. This would assume significance in light of China’s recent incursion into Ladakh, India’s concerns about Chinese infrastructure-building activities in Pakistan-occupied Kashmir and issues of sovereignty.
The joint statement, still in the works, is to be issued after PM Manmohan Singh holds talks with visiting counterpart Li Keqiang on Monday.
The joint statement, still in the works, is to be issued after PM Manmohan Singh holds talks with visiting counterpart Li Keqiang on Monday.
At the talks, India is set to raise the issue of the Chinese incursion and hope for a “more favourable response” on the Brahmaputra joint mechanism that Delhi had proposed after Beijing unveiled plans to build three more dams on the river. But no big breaks are expected.
India abides by the One China policy but the absence of its mention will be a second — the first being in 2010 during then premier Wen Jiabao’s visit.
Sources explained the likely absence by saying that India insists on "mutual respect of each other's concerns". But it is learnt that China hasn't pushed for a mention of the policy either.
What China is expected to take up is the issue of Indian activities along the line of actual control and also push for the early conclusion of the border defence cooperation agreement. But Indian sources said that concrete movement on the border mechanism is expected only when Singh visits Beijing later this year.
At least five pacts will be signed after the leaders meet, while one to simplify the visa regime will also be set in motion. Both sides will also boost their trade and business ties and cooperation in the international arena, including Afghanistan.
But Indian efforts to get a stronger position on terrorism didn't work because of Beijing's closer ties with Pakistan, sources said.
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