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PayPal Releases Global Impact Report, Processed $16 Billion in Contributions in 2019

Image for Representation

(Image: Paypal)

Image for Representation

(Image: Paypal)

PayPal said it has also taken steps to help more than 24 million merchants impacted by the coronavirus pandemic.

  • IANS
  • Last Updated: April 28, 2020, 4:21 PM IST

Global digital payment platform PayPal leveraged the power of its giving platform to process $16 billion in contributions in 2019, including over $10 billion in contributions to charitable causes, from more than 40 million people around the world, the company has announced. Releasing its third annual ‘Global Impact Report; in COVID-19 times, PayPal said it has taken steps to help more than 24 million merchants impacted by COVID-19, including waiving certain fees and deferring repayments on select business loans. The company said it worked with governments and regulatory agencies to efficiently provide loans to small businesses in the US.

“Given the challenges the world is facing as a result of the COVID-19 pandemic, we are committed to supporting the needs of our employees, customers, and communities and helping them navigate this unprecedented time,” said Dan Schulman, president and CEO of PayPal. In 2019, the company said more than 43 percent of employees participated globally in the Kiva lending campaign, empowering over 10,000 entrepreneurs across 36 countries.

“We maintained 100 per cent pay equity for women globally and ethnic pay parity in the US for the fourth year in a row, and advocated for inclusive public policies such as signing onto amicus briefs in support of the Deferred Action for Childhood Arrivals (DACA) programme.,” said the report. PayPal employees in Mumbai and Chennai undertook initiatives to drive sustainability by volunteering their time and skills to organise clean-up drives, collect e-waste, plant trees and host environmental awareness events.

PayPal’s total diversity in 2019 was 57 percent globally and experienced a 6 per cent year-over-year increase in females in tech roles and 12 per cent increase in ethnic minorities at Director-level roles since 2015. “We matched 65 per cent of the energy in data centres with renewable generation, representing significant progress toward the company’s goal of 100 percent by 2023,” said the company. The PayPal platform is currently empowering more than 300 million consumers and merchants in more than 200 markets globally.

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Tech

Xiaomi Had a Great 2019 With Mi TV And Lifestyle Products Complementing Strong Smartphone Sales

File photo of a Xiaomi Facory in India.

File photo of a Xiaomi Facory in India.

The Beijing-headquartered electronic conglomerate’s adjusted net profit was 11.5 billion Chinese Yuan, up 34.8 per cent Year-over-Year for the calendar year that ended December 31.

  • IANS
  • Last Updated: April 1, 2020, 10:44 AM IST

Chinese conglomerate Xiaomi on Tuesday announced that its total revenue for 2019 exceeded 200 billion Chinese Yuan for the first time, reaching 205.8 billion Chinese Yuan, up 17.7 per cent year-on-year. Its adjusted net profit was 11.5 billion Chinese Yuan, up 34.8 per cent YoY for the calendar year that ended December 31. In the fourth quarter of 2019, Xiaomi’s total revenue grew by 27.1 per cent to 56.5 billion Chinese Yuan.

“Despite headwinds from the Sino-US trade war and global economic downturn, Xiaomi stood out in 2019 with a commendable set of results as our revenue exceeded RMB 200 billion for the first time,” said Lei Jun, Xiaomi Founder, Chairman and CEO. In 2019, Xiaomi’s revenues of the smartphones segment reached RMB 122.1 billion, up 7.3 per cent YoY. In the fourth quarter of 2019, the revenues of the smartphones segment was RMB 30.8 billion, an increase of 22.8 per cent YoY.

For 2019, Xiaomi shipped 124.6 million units of smartphones while in the fourth quarter, its shipments were approximately 32.6 million. In 2019, Xiaomi’s revenues of the IoT and lifestyle products segment were RMB 62.1 billion, an increase of 41.7 per cent YoY. The annual Xiaomi smart TVs shipments in mainland China exceeded 10 million units. Xiaomi also ranked first in India in terms of smart TV shipments for seven consecutive quarters as of the fourth quarter of 2019, according to IDC.

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Tech

Huawei Posts 5.6 Percent Rise in 2019 Profit, Smallest Increase In Three Years

Image for Representation
(Image: Reuters)

Image for Representation
(Image: Reuters)

However, the overall revenue of the Chinese tech giant rose 19% to 858.8 billion yuan, helped by a 34% jump in sales for its consumer business unit which includes smartphones.

  • Reuters
  • Last Updated: March 31, 2020, 5:54 PM IST

China’s Huawei Technologies reported its smallest annual profit increase in three years, hurt by weak overseas sales amid an intensifying U.S. campaign to restrict its global expansion due to security concerns. Net profit for 2019 came in at 62.7 billion yuan ($8.9 billion), up 5.6% compared with a 25% jump a year earlier. Its carrier business, which includes 5G mobile network equipment, saw sales rise just 3.8%.

Accusing Huawei of being a threat to national security, Washington placed the company on its so-called Entity List, which restricts sales of U.S.-made goods and some other items made abroad that contain U.S. technology. U.S. President Donald Trump’s administration is also preparing further measures that will seek to restrict the supply of chips to the company, sources familiar with the matter told Reuters this month. The United States alleges the Chinese government could use Huawei equipment to spy, an accusation Huawei has rejected.

“We will need to further adapt to the long-standing restrictions imposed by the Entity List, while also addressing the impact of the ongoing COVID-19 pandemic,” Liang Hua, chairman of the board, said in a report posted on its website.

Overall revenue rose 19% to 858.8 billion yuan, helped by a 34% jump in sales for its consumer business unit which includes smartphones. That was mainly driven by China, where sales surged 36.2% to 506.7 billion yuan. In contrast, revenue from the Asia-Pacific region excluding China fell 13.9%, while in Europe and the Middle East sales grew just 0.7%. Huawei dominated smartphone sales in China, taking a 38.5% share of the market in 2019 compared with 27% a year earlier, according to research firm Canalys. This was in part due to a boost in nationalist sentiment after the company came under increasing pressure from the United States. It spent 15.3% of its revenue, or 131.7 billion yuan, in research and development last year. Cash flow from operating activities jumped by more than one fifth to 91.4 billion yuan, thanks to a strong performance in its home market.

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Tech

UPI Became the Most Preferred Payment Mode for Indians in 2019

Unified Payments Interface (UPI) remained the most preferred mode of payment in terms of volume followed by debit cards, Immediate Payment Services (IMPS) and credit cards, said a new report on Thursday. UPI recorded a transaction volume of 10.8 billion in 2019, a year-over-year increase of 188 percent, said the report from payments company Worldline India (WI).

“UPI is perhaps the fastest product to hit 1 billion transactions-a-month in 2019 since its inception in August 2016,” said the “India Digital Payments Report 2019”. The findings of the report suggest that in India, digital payment products are being primarily utilised for person-to-person (P2P) transactions than person-to-merchants (P2M) transactions. In terms of value, UPI facilitated transactions worth Rs 18.36 trillion, up 214 percent from 2018. Nine banks were added in UPI ecosystem throughout the year, bringing the total number of banks providing UPI services to 143 as of December 2019.

Some of the key factors that powered UPI’s transaction growth in 2019 are the adoption of UPI 2.0 features by banks, enabling payments for IPO applications, facilitating Foreign Inward Remittance service, supporting donations for several relief programs, and numerous cashbacks and discounts offered by banks and non-bank players, said the report. Immediate Payment Service (IMPS) recorded 55 percent year-over-year increase by facilitating about 2.3 billion transactions in volume. It clocked Rs 21.8 trillion in terms of value, up 41 percent from 2018. In 2019, it on-boarded 165 banks under its ecosystem bringing the total number of banks providing IMPS services to the customers of 559 banks by the end of 2019.

“In terms of value, IMPS attained the ‘numero uno’ position throughout the year followed by UPI. Value of debit and credit cards remained nearly the same throughout the year,” said the report. In 2019, UPI, debit cards, IMPS and credit cards together recorded a combined transaction volume of over 20 trillion and a combined value of over Rs 54 trillion, said the report. The country has witnessed full range of Aadhaar enabled banking services through AePS over the past few years.

In 2019, the total volume of Aadhaar Enabled Payment System (AePS) transactions (ONUS, OFFUS, DEMO AUTH and eKYC) stood at 2.3 billion, achieving year-over-year growth of 12 percent. The value of transactions achieved a milestone of Rs 1 trillion in 2019 with year-over-year growth of 31 percent, said the report. For the research, Worldline analysed transactions available in public databases as well as transactions processed by the company in 2019. Worldline India (WI) is wholly owned by Worldline SA, a leading payments company in Europe that is listed on Euronext Paris. Worldline entered India in 2010 with the acquisition of Venture Infotek followed by the acquisition of MRL Posnet in 2017.

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Tech

India Shipped 152mn Phones in 2019, Registers 8% Growth as Apple Leads Premium Segment

Representative image of the rise of digital technology usage in India. (Photo: Telenor)

Representative image of the rise of digital technology usage in India. (Photo: Telenor)

According to IDC’s annual data from the Indian smartphone industry, Vivo led the sub-premium category, and OnePlus played a key role too.

  • News18.com
  • Last Updated: February 7, 2020, 3:55 PM IST

India is among the few smartphone markets that are still registering growth, as most developed markets are seeing a slowdown in smartphone shipments due to saturation. According to IDC’s annual data of 2019, India saw a total of 152.5 million phones being shipped through the year, which marks an 8 percent annual growth over what was shipped in 2018. While India no longer remains in double digit growth phase, industry watchers and companies will still take note of the key growth areas that are still contributing to smartphone shipments growing in the country.

IDC’s data further states that the share of online smartphone shipments are steadily on the rise in India. Upasana Joshi, associate research manager at IDC India states on this matter, “The online growth momentum continued through the year with a record share of 41.7% in 2019, growing by 18.4% YoY annually due to deep discounts, cashback offers, buyback/exchange schemes, and complete protection offers clubbed with attractive financing schemes like No Cost EMIs across major model line ups and brands.” In contrast, the offline smartphone market grew only 1.6 percent in India, through the year.

In terms of price distribution in India, IDC states that the sub-$200 (~sub-Rs 15,000) smartphone market in India accounted for 79 percent of the market. The mid-range market, which roughly stands for between Rs 15,000 and Rs 35,000, captured 19.3 percent of the market, while the remaining sliver of 1.7 percent was captured by premium devices. In the latter, IDC notes that Apple crossed Samsung to capture 47.4 percent of the premium smartphone market in India, thanks to the iPhone XR and a lower priced launch of the iPhone 11.

In the premium end of the mid-range phones, IDC states that Vivo led the charts with 28 percent market share, largely thanks to the Vivo V15 Pro. Vivo was closely followed by OnePlus in this segment, thanks to the OnePlus 7. With 5G on the horizon and more interesting form factor smartphones on the way, it remains to be seen how the Indian market fares through 2020 and beyond.

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Tech

Consumers Purchased More Apple Watches Than Traditional Swiss Watches in 2019

Apple Watch. (Image: Vishal Mathur/ News18.com)

Apple Watch. (Image: Vishal Mathur/ News18.com)

Swiss watchmakers, like Swatch and Tissot, are losing the smartwatch wars.

  • IANS
  • Last Updated: February 6, 2020, 4:54 PM IST

Apple Watch outsold the entire Swiss watch industry by a huge margin in 2019. Apple Watch shipped 31 million units worldwide in 2019, compared with 21 million for all Swiss watch brands combined. According to Strategy Analytics a global, independent research and consulting firm, traditional Swiss watchmakers, like Swatch and Tissot, are losing the smartwatch wars. Apple Watch is delivering a better product through deeper retail channels and appealing to younger consumers who increasingly want digital wristwear.

“We estimate Apple Watch shipped 30.7 million units worldwide in 2019, growing a healthy 36 percent from 22.5 million in 2018. A blend of attractive design, user-friendly tech, and sticky apps makes the Apple Watch wildly popular in North America, Western Europe and Asia, Steven Waltzer, Senior Analyst at Strategy Analytics, said in a statement. The latest smartwatch from the Cupertino-based tech giant Apple Watch Series 5 is powered by watchOS 6 and comes with a new ‘Always On’ display feature. The latest smartwatch from Apple features top-of-the-line ECG and fall detection features, among other health benefits.

For added personal safety while traveling, users with cellular models of Apple Watch Series 5 can now complete international calls to emergency services, regardless of where the device was originally purchased or if the cellular plan has been activated. New location features, from a built-in compass to current elevation, help users better navigate their day. Apple Watch Series 5 is available in a wider range of materials, including aluminum, stainless steel, ceramic and an all-new titanium variant.

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Tech

One-Third of All Phones Sold Above Rs 30,000 in India in 2019 were by OnePlus

According to Counterpoint’s latest market data, Samsung ranks third in the premium market with 26 percent share, while Apple ranks second with 25 percent.

IANS

Updated:February 4, 2020, 2:05 PM IST

One-Third of All Phones Sold Above Rs 30,000 in India in 2019 were by OnePlus
According to Counterpoint’s latest market data, Samsung ranks third in the premium market with 26 percent share, while Apple ranks second with 25 percent.

Riding on its OnePlus 7 series, Chinese smartphone maker OnePlus led the Indian premium smartphone market in 2019 with 33 per cent market share. The company became the first-ever premium smartphone brand surpassing 20 lakh shipments in a year in India. Samsung with 26 per cent was second while Apple with 25 per cent market share came third in the premium segment, according to Counterpoint Research’s ‘Market Monitor Service for 2019.’

Apple was the fastest growing premium smartphone brand in 2019 with 41 per cent (YoY) driven by multiple price cuts on iPhone XR throughout the year. Overall, the premium smartphone segment in India (above Rs 30,000) registered its highest ever recorded shipments this year, growing 29 per cent in the year. “2019 has been a remarkable year for us at OnePlus. Every milestone we have achieved strengthened our pursuit for excellence in technology. We will remain dedicated towards creating burden-less and best-in-class user experience,” said Pete Lau, Founder and CEO, OnePlus.

OnePlus 7 device emerged as the number one premium smartphone model in 2019. The contribution of OnePlus’ ultra-premium segment to overall OnePlus portfolio grew to a whopping 25 per cent in 2019 — from just 2 per cent in 2018. According to Karn Chauhan, Research Analyst, Counterpoint Research, OnePlus’ ongoing retail expansion in India can be attributed to the increased sales volumes. “Its recent partnerships with renowned retail distributors, as well as successfully extending its unique premium brand experience to retail customers through OnePlus Experience Centers, have played a crucial role in its growth,” said Chauhan.

Similarly, the ultra-premium segment (above Rs 45,000) emerged as the fastest growing segment with 63 per cent (YoY) growth. “OnePlus continues to enjoy strong word of mouth communication from existing users, which also led the brand to have over 5 million strong community in India alone, a substantial number for a premium tech brand,” said Chauhan. Examples of innovations include its adoption of high refresh rate (90Hz), almost bezel-less displays and being first to launch smartphones with Qualcomm’s Snapdragon 855 Series application processor in India.

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Tech

LG Electronics Logged Net Losses of $717 Million in Q4 2019

LG Electronics said that its fourth-quarter deficit widened due to losses in its equity ties with a display-making affiliate, while its mobile business remained in the red. The tech giant said it logged a net loss of $717 million in the October-December period, compared with a $67.7 million net loss a year earlier, Yonhap news agency reported. The company’s operating profit increased by 34.5 percent on-year to 101.8 billion won in the fourth quarter, but this was an 87 percent drop compared to the previous quarter. Sales rose 1.8 percent on-year to $13 billion in the last three months of 2019. For the whole of 2019, LG Electronics’ net income tumbled 87.8 percent on-year to $150.9 million.

Operating profit dropped 9.9 percent on-year to $2.01 billion, but sales inched up 1.6 percent on-year to a record $52 billion. LG Electronics said its equity ties with LG Display Co. hurt its bottom line. The company holds a 37.9 percent stake in the world’s leading OLED panel maker. LG Display, which is scheduled to announce its fourth-quarter earnings on Friday, has been suffering from falling LCD panel prices.

Analysts here expect LG Display to suffer more than $839 million in losses in 2019. Aside from equity losses, LG Electronics saw its mobile business extend a slump to 19 consecutive quarterly losses. LG Electronics’ mobile business unit posted $278 milion in operating loss in the fourth quarter, widening from a loss of $267 million a year earlier. The unit’s sales plunged 21.2 percent on-year to $1.09 billion.

For all of 2019, its mobile business had sales of $4.9 billion, down from $6.62 billion in 2018, while the operating loss was tallied at $847 million, also widening from $661 million in 2018. Analysts here predict that LG Electronics shipped only 29 million smartphones in 2019, down 28 percent from a year earlier.

“Sluggish sales of mass-tier smartphones in overseas markets, increased marketing expenses, and retail inventory adjustments led to operating loss in the mobile business,” the company said.


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Tech

Windows 10 November 2019 Update Now Available to All Users

Microsoft has announced that the Windows 10 November 2019 Update is now available for all users. The company confirmed the news on Twitter saying that version 1909 is available for all users and one can manually check by clicking “Check for updates” under Windows Update in Settings.

The Windows 10 November 2019 Update features all the services that were available on the previous version, the May 2019 Update. Here are a few new features on Windows 10 November 2019 Update:

• Following the update, users can create new events in the Calendar app on their devices by clicking the date and time on the Taskbar.

• The update brings Cloud Clipboard that will allow users to copy text, links, graphics and more from one device and paste it onto another. History of what was copied recently can also be checked now.

• The update brings a CPU rotation policy that will distribute the work “more fairly among the favoured cores”.

• Several improvements have been made to manage as well as configure notifications. These include a “Manage Notifications” button at the top of Action Centre, users can now configure and turn off notification both from the banner and from Action Centre, the default sorting for notification senders will now be by most recently shown notification instead of sender name.

• The update has added additional debugging capabilities for newer Intel processors.

• The update will enable users to activate third-party digital assistants above the Lock screen using voice commands.

Here’s how to download Windows 10 November 2019 Update:

• Go to ‘Start’ menu

• Click on ‘Settings’

• Select ‘Update & Security’

• Tap on ‘Windows Update’

• Click on ‘Check for updates’

• Users would get to see ‘Feature update to Windows 10, version 1909’, select ‘Download’ to install it.

In December last year, Microsoft had announced that it had started rolling out the Windows 10 November 2019 update to those who are still using the October 2018 Update.

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Tech

Digital Transactions in Delhi-NCR Grew 235 Per Cent in 2019: Razorpay Report

In the Delhi-NCR region, Amazon Pay was the most used digital wallet among consumers, followed by Ola Money, while Google Pay topped the list among UPI apps.

IANS

Updated:January 22, 2020, 10:42 AM IST

Representative image. (Illustration: Shutterstock)
Representative image. (Illustration: Shutterstock)

Digital transactions in Delhi-NCR grew by 235 per cent from 2018 (January-December) to 2019 (January-December) and the region was the third most digitised state in 2019, thus, contributing 13.05 per cent in 2019 (up from 10.9 per cent in 2018), said a new report by full-stack financial services company Razorpay on Tuesday.

“The last year has been buzzing for the fintech sector in Delhi, with the adoption of new digital payment modes and bringing the digital currency to the mainstream. The last six months saw a tremendous shift in the consumption patterns of businesses and consumer preferences of digital payments in the region. With UPI growing by a whopping 442 per cent in Delhi, I am certain that this payment method will overtake cards by at least 20 per cent in the next 12 months,” Harshil Mathur, CEO and co-founder of Razorpay, said in a statement.

In 2019, Karnataka saw the highest adoption of digital payments (26.64 per cent) followed by Maharashtra (15.92 per cent) and Delhi NCR (13.01 per cent). While the usage of cards (46 per cent) and net banking (11 per cent) saw a decline in 2019, down from 56 per cent and 23 per cent for cards and net banking, respectively in 2018, UPI (38 per cent) went up from 17 per cent in 2018.

Amazon Pay was the most preferred wallet among consumers (33 per cent), followed by Ola Money (17 per cent) in 2019. The top three sectors in digital payment adoption for 2019 were food and beverage (26 per cent), financial services (12.5 per cent) and transportation (8 per cent). Among UPI, Google Pay contributed 59 per cent, PhonePe contributed 26 per cent, followed by Paytm (7 per cent) and BHIM (6 per cent) in digital transactions in 2019.

 

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| Edited by: Chhavianshika Singh