Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Lenovo on Friday launched India’s cheapest smartphone that can work on fourth-generation telecom technology, pricing it aggressively at Rs 6,999 to take on offerings from Microsoft, Xiaomi and Micromax that have recently launched 4G devices costing less than Rs 10,000.
The Chinese company will sell the 4G LTE smartphone, A6000, exclusively via online marketplace Flipkart through flash sale, a model that has been adopted by Xiaomi and Motorola in India with great success. The first flash sale is on January 28.
The registration-based flash sale will allow the company to determine the real demand coming out of market, enabling it to tweak supply accordingly, said Sudhin Mathur, director-smartphones, at Lenovo India. “We are hopeful for this product as it has a mass appeal attached to it,” he told ET, while not disclosing the number of devices it would offer on January 28. Original post at ET Telecom