Companies & Sectors
Smartphone market in India declines for first time in December quarter
According to IDC, during October-December 2014 quarter, Samsung maintained its leadership in India in smartphone and feature phone category 
 
For the first time, India's smartphone market fell by 4% during the October-December period compared with the previous quarter, research firm IDC said in a report.
 
Overall, IDC said, mobile phone shipments in one of the world's fastest growing handset markets stood at 64.3 million units during Q4 2014, reflecting a quarter-on-quarter drop of 11% over Q3 2014 and an annual drop of 5%.
 
"India's smartphone market observed shipment contraction in Q4 for the first time ever (q-o-q basis). This was largely owing to a high channel inventory at the beginning of the quarter amongst general trade which in turn was caused by the surge witnessed in online sales during festive season," IDC said in a statement.
 
The fourth quarter in 2014 was seen as a "correction phase" wherein the smartphone market declined by 4%, while the feature phone market tanked by around 14% over July-September 2014, it added.
 
Going ahead, IDC projects a sluggish January-March 2015.
 
However, few global vendors who were in the inventory correction phase until now are likely to exhibit big shipment numbers starting Q1.
 
"Operators are gearing up for 4G network rollout. For vendors and ecosystem partners, greater emphasis on 4G-enabled handsets at competitive price points will be the order of the day. End-users' desire to upgrade and keeping abreast with the latest technology will continue to drive a strong growth for the smartphone market in 2015," IDC Research Manager (Client Devices) Kiran Kumar said.
 
In the smartphone category in October-December 2014, Korean electronics giant Samsung maintained its leadership in India with 22% market share, followed by home grown vendors Micromax (18%), Intex (8%) and Lava (7%) and Chinese smartphone maker Xiaomi with 4% share, IDC said.
 
In the mobile phone segment (smartphones and feature phones), Samsung again led the market with 17% share followed by Micromax (15%), Nokia (10%) and Intex and Lava at 8%, each, it added.
 

 

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Finance Commission suggests higher share for states in central taxes

As per the increased devolution suggested by the 14th Finance Commission, states will get a share of Rs3.48 lakh crore in 2014-15 and Rs5.26 lakh crore in 2015-16 in central taxes

 

The Finance Commission has suggested raising share of states, including taxes and grants, in central taxes to 42% from current 32%. 
 
As per the increased devolution suggested in the report of the 14th Finance Commission, the states will get Rs3.48 lakh crore in 2014-15 and Rs5.26 lakh crore in 2015-16.
 
"The higher tax devolution will allow states greater autonomy in financing and designing of schemes as per their needs and requirements," the report tabled by Finance Minister Arun Jaitley in Parliament on Tuesday says.
 
The commission, headed by former Reserve Bank of India governor Y V Reddy, said the states should use this extra fiscal space for productive assets.  
 
The report, however, has a dissenting note from Abhijit Sen, a member of the now defunct Planning Commission. 
 

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COMMENTS

MG Warrier

2 years ago

The rise in the states' share of central taxes is indicative of Centre'sresolve to respect the rights of, and extend a helping hand to, states. This should be followed up with support to states to mobilise resources to meet internal needs.

Maharashtra govt to provide home loans to its employees

To be eligible, an employee from Maharashtra government should have completed five years’ service and should have five more years of service left

 

Maharashtra government has decided to provide home loans ranging from Rs20 lakh to Rs50 lakh to its employees. However, there is no mention of the rate of interest.
 
The decision has been taken considering the rising housing prices in urban areas, and the loan amount would be provided based on the pay grade of the staff, says an official release.
 
The sixth pay commission has already fixed the categories of cities, depending upon the prevailing rates of properties like independent houses, flats and plots, it said.
 
"In cities falling in the 'X' category, the government has offered principal home loan up to Rs50 lakh, while in 'Y' category cities the same will be up to Rs30 lakh. For the remaining areas, it is around Rs20 lakh," the release added.
 
To be eligible, an employee should have completed five years’ service and should have five more years of service left, it said.
 
If both the husband and wife are government employees, then the loan would be available only to one of them, it said.
 
The property to be bought should be in the name of the person who is opting for the government loan facility.
 

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