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iPhone 7 world’s best-selling smartphone in Q1

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San Francisco, May 11: Apple iPhone 7 has emerged as the worlds best-selling smartphone model in the first quarter of 2017, with an estimated shipment of 21.5 million units that captured six per cent market-share worldwide, a new report said.

Apple iPhone 7 Plus, with a bigger screen and higher price, shipped 17.4 million units for second place and 5 per cent market-share worldwide in first quarter of 2017, according to market research firm Strategy Analytics.

“Global smartphone shipments reached a robust 353.3 million units in first quarter of 2017. The top-five most popular models together accounted for 1 in 6 of all smartphones shipped worldwide during the quarter,” said Neil Mawston, Executive Director Strategy Analytics, in a statement on Wednesday.

Apple today accounts for two of the world’s top five smartphone models.

Meanwhile, Apple iPhone 5S has emerged as the top premium smartphone in seven states of India while other versions of iOS-driven devices occupy the top five premium spots in non-metro states.

OPPO R9s was declared as the star performer, shipping 9 million units globally and becoming the world’s third most popular smartphone model.

OPPO R9s shipped 8.9 million units for third place and 3 per cent market-share worldwide in first quarter and is a popular brand in China and growing rapidly across India.

“Samsung was still gearing up for the launch of its new Galaxy S8 portfolio, but managed to get two models in the top five during first quarter of 2017,” noted Linda Sui, Director Strategy Analytics.

Samsung Galaxy J3 captured 2 per cent global smartphone market-share and fourth place, while Galaxy J5 took 1 per cent global share to become the world’s fifth most popular model.

“Samsung’s J3 and J5 are midrange devices that sell very well across Europe and Asia and they helped to offset Samsung’s troubles with the Note 7 battery fiasco in the quarter,” Sui added.

IANS

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Equities recoup on value buying after 3 weeks of losses

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Mumbai, Feb 24: After three weeks of consecutive losses, the key Indian equity indices bounced back from their lows to close this week with humble gains on value buying by investors.

Market observers said futures and options (F&O) expiry infused volatility in the domestic markets, amid global cues and a slew of domestic developments like the $1.8 billion fraud reported by the Punjab National Bank (PNB) and a weakening rupee due to the continuous outflow of foreign funds.

However, losses were trimmed as bargain-hunting by investors on the last trading day of the week lifted the benchmark indices.

On a weekly basis, the barometer 30-scrip Sensitive Index (Sensex) of the Bombay Stock Exchange (BSE) edged higher by 131.39 points or 0.39 per cent to close at 34,142.15 points.

The wider Nifty50 of the National Stock Exchange (NSE) closed trade at 10,491.05 points — up 38.75 points or 0.37 per cent from its previous week’s close.

“The week gone by saw the Nifty bouncing back from a low of 10,302 to finally end with a modest gain. This week’s gains came after three weeks of losses,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.

According to D.K. Aggarwal, Chairman and Managing Director of SMC Investments and Advisors, markets across the globe fluctuated wildly — highlighting the market’s fragility — as investors continued to assess the quickening pace of economic growth and the prospects of the US Federal Reserve’s tightening efforts.

“Back home, the sentiment of market participants have been dented by factors such as surging US bond yields, a multi-crore fraud in India’s second-largest public sector lender PNB and the return of long-term capital gains (LTCG) tax on equities, which put a break on the record-setting market rally,” he added.

During the eight trading sessions following the detection of a $1.8 billion fraud in one of the branches of the PNB, the bank’s shares on the BSE have plunged almost 30 per cent to Rs 113.40 per share.

Gitanjali Gems, the other listed entity involved in the fraud case, also witnessed an eight-day fall in its shares, nosediving 60.54 per cent to Rs 24.80 per share.

“The consolidation in the domestic market continued due to the NPA (non-performing assets) issue in public-sector banks, trade deficit, conflict between NSE and SGX, rise in bond yield and depreciation in rupee due to selling by FIIs (foreign institutional investors),” said Vinod Nair, Head of Research, Geojit Financial Services.

On the currency front, the rupee weakened by 51-52 paise to close at 64.73 against the US dollar from last week’s close of 64.21-22.

Provisional figures from the stock exchanges showed that FIIs sold-off scrips worth Rs 5,781.98 crore, while domestic institutional investors (DIIs) purchased scrips worth Rs 5,972.69 crore during the week.

Figures from the National Securities Depository (NSDL) revealed that foreign portfolio investors off-loaded equities worth Rs 3,054.94 crore, or $468.06 million, during February 20-23.

Sectorwise, Jasani said: “The top sectoral gainers were IT, metal and Bank Nifty indices. The top losers were auto, realty and pharma indices.”

The top weekly Sensex gainers were: Tata Consultancy Services (up 4.76 per cent at Rs 3,076.90); Yes Bank (up 3.75 per cent at Rs 323.60); Infosys (up 2.74 per cent at Rs 1,155.65); Kotak Bank (up 2.67 per cent at Rs 1,079.85); and Coal India (up 2.49 per cent at Rs 310.55).

The losers were: Bajaj Auto (down 3.70 per cent at Rs 2,988); Asian Paints (down 3.65 per cent at Rs 1,101.90); Mahindra and Mahindra (down 3.29 per cent at Rs 719.30); Tata Motors (down 2.73 per cent at Rs 360.45); and Tata Motors (DVR) (down 2.32 per cent at Rs 203.85).

IANS

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In the Indian system politicians are accountable but regulators are not: FM Jaitely on Banking frauds

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Finance Minister Arun Jaitely at Global Business Summit (Photo-ANI)

Finance Minister Arun Jaitley on Saturday told that cases of periodical willful default are much more dangerous than business failure and bank frauds.

Speaking at Global Business Summit the leader pointed out that these kinds of incidents not only harm the economic atmosphere like the ease of doing business but also scars the economy.

The finance minister Jaitley also said, “If a fraud is taking place in multiple branches of banking system & no one raised the red flag, doesn’t that become worrisome for a country. Similarly, top management who were indifferent, multiple layers of auditing system which chose to look another way, it creates a worrisome situation.”

The leader also referred that Regulators plays important roles and decide the rules of the game and they have to have a third eye which perpetually is open.

“Unfortunately, in the Indian system we politicians are accountable but regulators are not,” he added.

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How to start your own cryptocurrency

Hands up who’ll buy an IdiotToken from me? And no, you can’t pay me in cryptocoins. I want hard cash. I may be an idiot but I’m not stupid.

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Fed up of standing by watching while others make and lose fortunes on cryptocurrencies? Now you too can make and lose a fortune!

This columnist realised it was time to tackle this topic when a news report said more than 1,500 Bitcoin-like cryptocurrencies had been launched and a reader asked me for advice on starting his own.

Easy, I said. Whose head would you like to be on it? He chose his own, which showed me that he had no idea what a cryptocurrency was. They are not physical coins, so don’t have anyone’s heads on them.

Never mind. Most people don’t understand these things. This is good.

Things you can sell to unsuspecting friends as Bitcoins: 1) game arcade tokens; 2) foreign coins; 3) toy medals; and 4) chocolate money.

But one of my more serious colleagues is starting his own cryptocurrency; so I know the system.

1. Download the main coin mining software from a website called Github, then hire a nerd, as you have to tweak the programme (with C++) to make it unique.

2. Think of a theme. It is impossible to be too wacky. For example, one person made a cryptocoin called “Offerings to Cthulhu”, named after an alien from a 1928 sci-fi story. You’d think that was too silly to work, but it is going strong after several years.

3. When people start buying your currency, sell them all and run away as fast as you can.

If the last part of this process reminds you of anything, it should. It is the same technique used by people working for criminal gangs (“banks”) for pushing evil scams such as sales of stocks and shares, unit trusts, investment bonds, Ponzi schemes, etc.

It’s an exciting field. In January this year, the value of Bitcoins was going up and down so fast (in a $10,000 range) that you had to discuss it with a live price tracker in your hand. Here’s a typical conversation:

ME: “I’ll buy your car for one Bitcoin.” HIM: “No way! This car’s worth more than… $9,845.” ME: “More than… $11,245? No, it isn’t. That’s a good price.” HIM: “Okay, you got a deal.” ME: “I’m now transferring to you one Bitcoin.” HIM: “Wait. This is only worth… $7,231.” ME: “Too late, Byeee.” [Drives off.]

Bitcoin analysts say the number of new coin issues is accelerating so we’ll each have our own currency in “the mid-to-long-term future”, meaning a week next Tuesday. Shopping will be challenging.

SHOPPER: “Do you accept Flurgles?” SHOPKEEPER: “Yes, but your change will be in Oogliewooglies.”

What to call your coin? All the cool names have already been taken, including Mysterium, Einsteinium and BitBean. Others are odd, like the Melon, or desperately unimaginative, like the Namecoin.

I reckon it’s time to stand out and get attention by using an ironically humorous name for your new Bitcoin. Four suggestions:

1) SweetLittleNothings; 2) Don’tBuyThese; 3) Moneypits; and 4) IdiotTokens.

Okay, hands up who’ll buy an IdiotToken from me? And no, you can’t pay me in cryptocoins. I want hard cash. I may be an idiot but I’m not stupid.

By : Nury Vittachi

(Nury Vittachi is an Asia-based frequent traveller. Send ideas and comments via his Facebook page)

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