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…
Microsoft Mobiles, maker of Lumia smartphones, has tied up with Idea Cellular for enabling the telco’s 34 million data users to purchases apps and pay for them through monthly bills or prepaid balances. Idea Cellular’s customers will be able to make the purchases from Microsoft’s Windows Store, the companies said on Monday.
Partnerships where telcos team up with app stores may work better in India where credit card adoption and use for making payments over mobile is far less than nbanking or debit card usage. India is estimated to have about 19 million credit card users, but over 135 million use smartphones, executives said.
“The smartphone market in India is poised to grow over 70% this fiscal and the app ecosystem is also booming,” said Nikhil Mathur, director for operator relations at Nokia India Sales, a Microsoft Mobile Oy subsidiary. “However, multiple factors like low credit card penetration, monetisation models and preference for free apps have restricted the growth.” Original post at ET Telecom