Survey shows the Finnish company holds 64.8% of market share; India is expected to be served more than 10 billion ads over mobile phones and continue its scorching growth
According to a report published by BuzzCity, a global mobile media company, India has seen the highest growth among 50 countries in mobile advertising. And this massive growth has been aided by Nokia, which still holds more than 64% of the market.
At 30% growth in mobile advertising, India is way ahead of other South Asian mobile-phone countries—most of whom have seen a decline in growth. More than 9.7 billion ads were served to 80 million unique Indian users in the third quarter, 64.8% of whom are still loyal to Nokia. “In spite of global news focusing on the demise of Nokia, countries like India reveal that the Finnish manufacturer is still a force to be reckoned with, especially in the developing world,” said the report.
Globally, Nokia commands some 52% of the mobile market. In diverse markets like USA, Vietnam, Brazil, Saudi Arabia, Thailand, Egypt and Poland, it continues its dominance.
The report also shows that the Indian growth story is largely dependent on mobile content itself, while some financial services offering home loans ran promotions early in the quarter. Notably, online job portals have been migrating to mobiles and have been promoting heavily in India (as well as South-East Asia and the Middle-East).
Advertisers have focused more on the youth, as more than 50% of the ads have been served to people who are between 20-29 years of age. Even users below 20 years of age have been served 18% of the ads. The most popular content has been related to dating, glamour, entertainment and lifestyle. For the next quarter, India is expected to be served more than 10 billion ads and continue growth.
“In economies where such overheating pressures remain high, inflation remains above target and inflation expectations have continued to rise, such as in China, India, and Korea, the current pace of monetary tightening remains appropriate,” the IMF said in its Regional Economic Outlook for the Asia-Pacific
Washington: Ahead of the credit policy review meeting of the Reserve Bank of India (RBI) later this month, the International Monetary Fund (IMF) has supported the RBI’s monetary tightening strategy for taming inflation, reports PTI.
“In economies where such overheating pressures remain high, inflation remains above target and inflation expectations have continued to rise, such as in China, India, and Korea, the current pace of monetary tightening remains appropriate,” the IMF said in its Regional Economic Outlook for the Asia-Pacific.
The RBI has already hiked interest rates 12 times since March 2010 to control inflation, which is currently hovering near the double-digit mark.
With the rise in key interest rates by 350 basis points over the past 20 months resulting in a slowdown in industrial output, there has been a widespread demand for a pause in the rate hikes. The RBI is slated to conduct its second quarter policy review on 25th October.
“Inflation has been driven by commodity prices, but also in many economies by sustained demand pressures,” the IMF said.
It said that commodity price rise has fed to generalised inflation in countries like the Hong Kong special administrative region, India, Indonesia, Korea, Malaysia and Thailand.
“Inflation expectations have also risen since the first quarter of 2011 in a number of economies,” it said.
The report further said that Asian economies are facing a rising risk to growth on account of increased financial worries in the euro area and the growth slowdown in the US.
The multilateral lending agency projected that gross domestic product (GDP) growth across Asia would average 6.25% in 2011.
“Asia remains vulnerable to further trade and financial shocks given its high degree of integration,” the IMF said, adding that the risks for Asia are decidedly tilted to the downside.
“In addition to a drop in global demand for Asian exports, foreign investors could retrench from the region, reversing their large positions. European banks could reduce cross-border lending, causing credit flows to dry up,” the IMF said.
In the World Economic Outlook report released last month, the IMF projected that India’s economic growth rate would moderate to 7.5%-7.75% this fiscal from 8.5% in 2010-11 on account of slowing investment and the sluggish global recovery.
IDBI Bank has waived the processing fee for loan amounts upto Rs25 lakh. The bank has also reduced the existing floating home loan rates by 25–50 bps
IDBI Bank reviewed its home loan rates in view of market scenario, competition offerings and providing some benefits during festival season. All new borrowers would be given an option of either fully floating rate or a combination of fixed and floating rates. The processing fee for loan amounts up to Rs25 lakh has been waived. The Bank has also reduced the existing floating home loan rates by 25–50 bps. The composite fixed floating home loan scheme and revised floating rates home loan scheme are as under: