SpiceJet to Receive funds from Promoter Says Airline to DGCA

first_imgFinancially strapped SpiceJet assured the government that its  promoter, Sun Group, will infuse funds into the airline.However, the sum has not been revealed by the airline. ReutersThe management team of the beleaguered airline promised to submit a detailed plan on the airline’s revival on Monday, in line with the deadline set by the Directorate General of Civil Aviation (DGCA.)SpiceJet COO Sanjiv Kapoor met the civil aviation secretary V Somasundaran on Friday, and reiterated that the promoters remained committed to the airline’s future.He contended the figures quoted by media houses, adding that lessors are owed around  Rs. 200 crore, against the 700 crore making the rounds. Government sources put the figure at Rs.1,630 crore, according to the filing with DGCA.Shilpa Bhatia, SpiceJet’s senior vice-president and head for sales, held a conference call with travel agents, assuring that all dues remained safe and a plan will be shared with them on Monday.The airline’s advance booking facility is limited to a 30-day window, as per DGCA order; with the regulator also withdrawing 186 flight slots held by SpiceJet.SpiceJet delayed salaries of its staff for the first time this month.last_img read more

Did actress Namitha behave rudely with cops and EC officials Her husband

first_imgNamitha.PR HandoutNamitha was recently in the news when reports of the actress behaving rudely with the cops and election commission officials had surfaced on TV channels. Her husband Veerendra Chowdhary has now given a detailed account of the incident.According to Veerendra Chowdhary, they were on their way to Yercaud when their car was stopped by cops in three junctions and they co-operated with them. But the couple had tought times after an official from the election commission stopped their vehicle at Salem-Yercaud junction.He tells that Namitha raised objection when the official tried to check her bag, demanding that a woman cop should inspect her bag. Some media had claimed that she behaved rudely with the official and the cops and displayed tantrum.The complete explanation from Namitha’s hubby can be read below:Let me start by saying that I am utterly sorry! Sorry that you were misguided by all the news that have been in the circulation past few days. On my and my wife Namitha’s defense I’d like to say this. We were travelling to Yercud for shoot and were on road since past 8 hrs. My wife Namitha was sleeping in the back seat as it was 2.30 at night.Before this unfortunate incident we were stopped 3 times at different junctions, and we co-operated with everyone as they all were respectful to us. But when we reached the junction of Salem- Yercud , the gentleman from the Election Commission stopped the car and very rudely spoke to everyone in the car. He was showing his authority to everyone and behaving as if we were CRIMINALS!!He even opened the door of the back of the car despite of my pleas that sir My wife is tired and she’s slepping if you want I’ll wake her up , he still went and open the door and Namitha who was sleeping with her back resting on the door, almost fell out of the car !!! He said sorry but he still went on searching the car as if we were trafficking some illegal substances.Then he started checking everyone’s bags, and when he reached Namitha’s bags she refused to open her bag…. TO HIM! She said if you want to check my bag Kindly arrnage for a FEMALE COP. As its her bag and since it carries some intimate items, she would be comfortable to have a FEMALE COP who checks it. Thats all! That was the only matter!! Its Every Woman’s right to ask for a FEMALE COP if she’s uncomfortable.According to me, this whole matter has been blown out of proportion. If it was a noraml citizen nobody would’ve made a peep about it. But since its asked by a celebrity everyone is taking an advantage and making a mountain out of mole. That’s all. Instead of taking it wrongly , I hope the women of our country learn from this incident And raise their voices and ask for a FEMALE COP’S PRESENCE if she feels she’s uncomfortable. Thank youlast_img read more

Tata Group Launches ECommerce Portal Exclusively for its Employees

first_imgIndia’s largest business house Tata Group aims to take advantage of its huge employee base to drive revenues by launching an e-commerce portal exclusively for its employees to sell a range of goods. The $103-billion conglomerate is testing the online retailing initiative – mytatastore.com  – on a pilot basis that will cover its five lakh employees. “It’s an internal merchandise store for Tata employees across geographies. The thought behind launching it on “tataworld”, the group intranet, was to make Tata branded merchandise easily available to our internal stakeholders across Tata companies,” a Tata Sons spokesperson told The Economic Times.Besides, one of its group companies Tata Steel is rolling out ‘Tata Steel eshoppe’ for its stakeholders. “There was a huge demand from vendors and distributors who wanted to be associated with the Tata Steel brand,” said Viresh Oberoi, managing director and chief executive of mjunction services, a joint venture between steel giants Tata Steel and SAIL.Initially, the online store will offer Tata Steel branded merchandise such as mugs, backpacks, handicrafts, shirts, organisers, T-shirts and books. “We would like the initiative to stabilise in India. The first 10 days of operations have been very encouraging and has attracted close to 2,000 registrations,” Tata Steel MD (India & South East Asia), TV Narendran said.”The practice of involving employees for understanding the market will set the trend for many such corporates in future,” Manisha Rao, Delhi-based retail consultant, said. India is expected to become the second-largest digital market globally by 2030, with China being at first place, according to a report by Goldman Sachs.The banker estimates the country’s e-commerce market to grow 15 times to $300 billion by then, accounting for about 2.5% of the gross domestic product (GDP).last_img read more

Reliance Industries bucks bearish trend to hit 18month high

first_imgWhile the benchmark stock indices plunge to multi-month lows due to fears over China’s turbulent markets, Reliance Industries Ltd (RIL) shares hit an 18-month high on the bourses, supported by improving prospects for the company in 2016.The stock price of RIL ended 2.7% higher at Rs 1,052 on the Bombay Stock Exchange (BSE) on Monday, reaching its highest levels since 24 June, 2014.Overall, the stock gained 6% in the past one week compared to a 3% decline in the benchmark indices. The BSE S&P Sensex closed at a 19-month low of 24,825 points.Analysts attribute the rally in RIL to its positive earnings growth outlook on the back of improvement in its gross refining margins (GRM).”We expect RIL to earn a premium of around $3 per barrel over the Singapore GRM taking the Q3FY2016 GRM to $11 per barrel from $10.6 per barrel in Q2FY2016. The capacity addition in the high-margin petrochemical business would further boost the profitability,” Business Standard quoted brokerage Sharekhan as saying in a Q3FY2016 earnings preview.Another brokerage, CLSA, expects RIL’s earnings before interest, tax, depreciation and amortisation (Ebitda) to increase 50% in the next two years.CLSA maintains a “strong buy” on RIL as the Mukesh Ambani-led business conglomerate is set to commission projects worth $30 billion in 2016.RIL had announced to $55 billion till 2018 to expand capacity in petrochemicals, refining and launch its telecom arm Reliance Jio. Reliance Jio is expected to roll out its 4G services in the next fiscal year. Last month, Reliance Jio had launched its services initially for the group’s employees.CLSA expects the market capitalisation of RIL to go up 25% from current level if its telecom arm manages to acquire 10 crore subscribers in the first year of its launch, reported The Economic Times.Foreign Institutional Investors (FIIs), who have stayed away from the stock for the past few years due to its high capital expenditure and investment in the telecom business, are expected to increase their exposure to it.”Reliance Industries is our top pick in the oil and gas space and the main reasons for it is a fact that the two large projects commencing operations in the next fiscal — the gas cracker and the petro gasification — have the potential to double the earnings before interest, taxes, depreciation and amortisation (EBITDA) of their core business of petrochemicals and refining in the next three to four years. Along with it, the retail business is doing well,” Prayesh Jain, AVP – Research at IIFL, told CNBC-TV18.last_img read more

Game of Thrones season 8 ending preview leaks online furious fans say

first_imgGame of ThronesGame of Thrones Official YoutubeThe final season of Game of Thrones has not lived up to expectations, be it the story, character arcs or the technical details of the show, like the lighting in episode 3 or the coffee cup min episode 4. Fans are dissatisfied by season 8. And to make things worse, reportedly a minute-long preview for the last two episodes of Game Of Thrones’ eighth season was allegedly leaked on Monday, leaving fans livid over the show’s potential ending.According to The Sun, the footage is believed to show major spoilers for the battle of King’s Landing, as well as how the show will end in episode six. Viewers, who had seen the potential spoilers on Twitter, were furious at the prospect of what the leak could mean, with some even going as far as to say that it meant the show had ‘the worst ending in TV history.’ That seems like quite a claim but the way the final season has been progressing, we have to say that we are a little apprehensive about what the last two episodes hold for fans. Game of Thrones season 8 episode 4Game of Thrones (@gameofthrones/Instagram)Spoilers for Episode 4 ahead.The last episode was disappointing as well, with character development and story arcs abandoned at the drop of a hat. Jaime Lannister abandons Brienne of Tarth after making love to her, Brienne of Tarth, a strong, independent warrior Knight is reduced to a sniveling stereotype of a lovestruck woman. And a Dragon is shot down from in the air in an apparent impossible shot. Why? So that the final battle is an even match between Daenerys Targaryen and Cersei Lannister.The fifth episode of the final season of Game of Thrones will air on May 12.last_img read more

Who are Indias Top Ten highest paid executives SLIDESHOW

first_imgAditya PuriMD, HDFC Bank32.8 Navin AgarwalChairman, Vedanta15.1 D.B. GuptaChairman, Lupin37.6 Sunil MittalChairman, Bharti Airtel27.2 Pawan MunjalCMD & CEO, Hero MotoCorp43.9 Rajiv BajajMD, Bajaj Auto20.5 With Infosys filing its annual report for 2015-2016, its executive pay package information is out in the open. Vishal Sikka, the CEO and MD of the Bengaluru-based IT services exporter, took home a salary package of Rs. 48.73 crore in 2015-16. His basic salary was Rs. 5.96 crore, while variable pay, inclusive of bonus, retirals and others, amounted to Rs. 42.77 crore, according to the disclosures in the annual report. The variable pay component included Rs. 14 crore for the financial year 2014-15.Sikka will get about a 50 percent hike in remuneration for 2016-2017. The company approved a compensation of $11 million (about Rs. 74 crore) in February this year.Yet, his compensation will be less when compared to that of Francisco D’Souza, CEO of Cognizant Technology Solutions, who took home $12 million in 2015, the Economic Times reported. It would be interesting here to know India’s top 10 highest paid CEOs in 2014-15 as reported by the Business Standard. (Their earnings for 2015-16 will be available when the companies file their annual reports for the year).   NameNameCompanyCompanySalary (Rs. Crore)Salary (Rs. Crore)NameC.P. GurnaniCompanyMD & CEO, Tech MahindraSalary (Rs. Crore)165.6NamePawan MunjalCompanyCMD & CEO, Hero MotoCorpSalary (Rs. Crore)43.9NameD.B. GuptaCompanyChairman, LupinSalary (Rs. Crore)37.6NameAditya PuriCompanyMD, HDFC BankSalary (Rs. Crore)32.8NameSunil MittalCompanyChairman, Bharti AirtelSalary (Rs. Crore)27.2NameN. ChandrasekeranCompanyCEO & MD, TCSSalary (Rs. Crore)21.3NameRajiv BajajCompanyMD, Bajaj AutoSalary (Rs. Crore)20.5NameK.M. BirlaCompanyChairman & Non-executive director, UltraTechSalary (Rs. Crore)19NameY.C. DeveshwarCompanyChairman & Wholetime Director, ITCSalary (Rs. Crore)15.3NameNavin AgarwalCompanyChairman, VedantaSalary (Rs. Crore)15.1center_img K.M. BirlaChairman & Non-executive director, UltraTech19 Y.C. DeveshwarChairman & Wholetime Director, ITC15.3 C.P. GurnaniMD & CEO, Tech Mahindra165.6 N. ChandrasekeranCEO & MD, TCS21.3 NameCompanySalary (Rs. Crore)last_img read more

Game Over 2 day box office collection Taapsee Pannu film shows 100

first_imgTaapsee Pannu in Game OverPR HandoutTaapsee Pannu’s Game Over opened to a good response at the Indian box office on Friday and has gone on to show massive growth of 100 per cent on Saturday. Its business has improved on Sunday.Taapsee Pannu started her acting career down south and she has gone on to make it really big in Bollywood. She has created a huge fanbase across India with the kind of movies she has been doing. The makers of Game Over made it multi-lingual film and released it in Telugu, Tamil and Hindi on June 14.Taapsee Pannu’s success rate and the amazing promos had created a lot of curiosity about Game Over and the hype helped it register decent advance booking. But the movie had to compete with some small movies in Telugu and Tamil, which made the trade experts keep their crossed about its prospects at the box office.Released in the decent number of screens, the Ashwin Saravanan-directed suspense thriller opened to good occupancy everywhere in the domestic market on Friday. All the three versions of Game Over collected Rs 97 crore net together at the Indian box office on the first day.The Taapsee Pannu starrer was successful in striking a chord with the audience and the word of mouth boosted its collection in the ticket counters. Game Over has collected Rs 1.94 crore net at the India box office on the second day. Its two-day total has reached Rs 2.91 crore net in the domestic market.Y NOT Studios and Reliance Entertainment have jointly bankrolled Game Over and the producers are thrilled over the huge growth in its collection. Shibasish Sarkar, CEO of Reliance Entertainment, tweeted, “Game Over 1st Day Hindi-38 lacs Tamil-30 lacs Telugu- 29 lacs Total Friday 97 lacs 2nd Day Hindi-88 lacs Tamil-50 lacs Telugu-56 lacs Total Saturday 194 lacs 2 Days Total 291 lacs. Growth of 100%.”last_img read more

Shocking Radhika Apte was the first choice for Vicky Donor was replaced

first_imgRadhika AptePR HandoutIf sipping coffee with Karan Johar on his chat show Koffee with Karan was not enough, celebs seem to be having a rough time dealing with Neha Dhupia’s scary spice on her chat show – No Filter Neha. From candid revelations to shocking confessions, celebs on the show have said it all, bared it all. And the recent revelation that comes from Radhika Apte has taken us aback.Radhika Apte and Ayushmann Khurrana graced the finale episode of No Filter Neha and bared their hearts out. Talking about a role she lost out on due to body issues, Radhika Apte revealed that she was the first choice for ‘Vicky Donor’. She said that she had been selected without giving an audition for the female lead in the film, but, the makers wanted her to lose weight. She revealed that though she was never fat, the makers had a particular weight and shape in mind and hence had asked her to lose weight. Radhika, who was supposed to go on vacation had promised them that she would lose all the weight within the given time frame of two months. First, the makers agreed, but, later decided to replace her with Yami Gautam.Radhika revealed that though she takes criticism at work very positively, this particular didn’t go down well with her and left her worried. She revealed that she had stopped eating for a long period after that episode.Well, with the fabulous choices that Radhika seems to be making these days and the amount of popularity she has gained, it was certainly a loss for the makers Shoojit Sircar and the team and definitely a massive gain for Yami Gautam, who hasn’t had the same amount of success after that.last_img read more

Aishwarya Rai to be roped in for Koratala Shivas next movie with

first_imgThe first look teaser of Chiranjeevi’s Sye Raa Narasimha Reddy is unveiled. It hints the life of Indians during the British rule and the rise of a hero who led a revolutionary movement against them.Finding a heroine for Megastar Chiranjeevi is definitely a big task for any director nowadays. The actor is too old for any young heroine in the industry now and not all the actresses with whom he was worked are not in acting anymore.For Sye Raa Narasimha Reddy, he has teamed up with Nayanthara and in Khaidi No.1, he was seen shaking leg with Kajal Aggarwal. Well, it is known that Chiranjeevi is going to team up with director Koratala Shiva, who made films like Mirchi, Janatha Garage, Srimanthudu and Bharat Ane Nenu. All these films have been huge hits at the box office and the director has nothing but back to back hits in his kitty now.So his upcoming film with Chiranjeevi is said to be going on the floors next year and it is expected to be launched on Ugadi.As per the source, after getting in touch with all the possible heroines for this film, it is said that the director is now in the process of getting in touch with Aishwarya Rai Bachchan to play the leading lady in this film. If this news is true, there’s no wonder why he has approached the Bollywood diva.The senior most actresses down south are Nayanthara, Shriya Saran, Trisha, Tamannaah Bhatia and Anushka Shetty. But it looks like none of them has given nod to this project.Well, bringing Aishwarya Rai to act with Chiranjeevi is definitely not a bad idea. “The makers are trying to bring the best actress on board and they are not going to compromise with the budget. Because it is still in the pre-production stage and hasn’t been launched, the producers do not want to make any official statements about the cast,” said a source close to the direction team. Aishwarya Rai Bachchan on the Cannes 2019 red carpet.Twitter / RCFAOn the work front, Chiranjeevi has even completed dubbing for Sye Raa and as per the reports, the film is going to hit the screens on October 2.last_img read more

How Air Arabia turned secondary airports into its primary success factor VIDEO

first_img Biz Talk – This low-cost airline is changing the way the gulf flies! Close IBTimes VideoRelated VideosMore videos Play VideoPauseMute0:01/20:07Loaded: 0%00:01Progress: 0%Stream TypeLIVE-20:06?Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window. COPY LINKAD Loading … Air Arabia, with its low-cost model, managed to disrupt the aviation industry in the United Arab Emirates (UAE). An idea which was initially seen as ‘non-viable’ by many, managed to catapult itself from a $13 million to a $5 billion company. This Low-cost carrier has now expanded its wings globally.But why would someone start a low-cost carrier model in the oil-rich gulf? International Business Times India’s Executive Editor, Danish Manzoor, sat down with the Group CEO of Air Arabia, Adel Abdullah Ali, to explore this. “Everybody’s wish was to travel in the region as UAE has a lot of expat population,” said Adel.When asked about the idea and how his peers reacted to it, Adel said, “Affordability stopped people from traveling home. People were taking holidays after 4-years sometimes. Nobody believed that a low-cost airline will work in the gulf. Many felt we would be bankrupt within 3 to 6 months. But soon we were running at 60% seat occupancy.” “Our model works so well that even the Bus company ferrying people from UAE to the Levant even threatened to sue Air Arabia,” Adel quipped.In 2004, the company broke even and then there was no looking back for Air Arabia. The company currently operates in several countries, including India, Saudi Arabia, Egypt, Morocco, and Russia. These are also the most profitable routes for the airline. Air Arabia’s business model of affordable flying helped the airlines gain early success as continues to expand beyond the Gulf countries as well.In the video interview, Abdullah Ali spoke about the challenges his company faced and his plans to expand and grow operations in Egypt, Morocco as well as in India. Abdullah Ali also busted the long-circling rumor about Air Arabia and Air India merger. “Two business models don’t match. It makes no sense and it will confuse our people and Air India flyers,” Abdullah Ali told Danish on BizTalk.last_img read more

What is bitcoin worth Barclays has an answer to that

first_imgBitcoin, Ethereum are types of cryptocurrencies availableReutersBe it analysts, cryptocurrency experts, renowned researchers, no one has so far been able to derive the real value of bitcoin till date.However, analysts at Barclays think they have a useful method for tracking bitcoin trends — infectious disease models. And by their analysis, the cryptocurrency fever may have broken.The Barclays model divides the pool of potential bitcoin investors into three groups: susceptible, infected and immune.Just like any infectious disease, rise in prices is spread by word-of-mouth – via blogs, news reports and personal anecdotes – as nobody wants to miss out on the rally that made their friends and colleagues rich.”However, once full adoption is approached, the price decline is sustained and rapid,” Barclays analyst Joseph Abate wrote in a note to clients.”As more of the population become asset holders, the share of the population available to become new buyers — the potential ‘host’ population — falls, while the share of the population that are potential sellers (‘recoveries’) increases. Eventually, this leads to a plateauing of prices, and progressively, as random shocks to the larger supply population push up the ratio of sellers to buyers, prices begin to fall. That induces speculative selling pressure as price declines are projected forward exponentially.”The Barclays model suggests that awareness around cryptocurrencies is now almost universal, and only a small group of the population could now catch speculative interest, and buy in.”We believe the speculative froth phase of cryptocurrency investment – and perhaps peak prices – may have passed,” Abate said.Bitcoin has fallen by more than 50 percent in 2018, trading near $6,969 as of 9:00 a.m. Indian Standard Time.The cryptocurrency rose more than 1,300 percent last year, reaching a peak near $20,000 in December.While the cryptocurrency bounced back from past price collapses in 2011 and 2013, the high level of awareness this time around signals bitcoin may never return to its peak of nearly $20,000 in December, according to the Barclays model.last_img read more

Sensex continues to trade flat ahead of noconfidence motion against Modi government

first_imgIndian pedestrians walk on Dalal Street – Trader’s Street – next to the Bombay Stock Exchange (BSE) in Mumbai on March 7, 2014.INDRANIL MUKHERJEE/AFP/Getty ImagesIndian shares were muted on Thursday with losses in heavyweights such as Tata Consultancy Services Ltd offsetting gains in consumer stocks including Hindustan Unilever Ltd, a day ahead of a no-confidence motion against the government.The broader NSE Nifty was flat at 10,980.35 as of 0717 GMT while the benchmark BSE Sensex edged up 0.19 percent to 36,441.69.On Friday, the parliament will debate a no-confidence motion tabled by opposition parties against the Prime Minister Narendra Modi’s government on Wednesday, the first day of the monsoon session. Visitors walk outside at the opening of the Winter session of Parliament in New Delhi on December 5, 2013.RAVEENDRAN/AFP/Getty ImagesBroader Asian shares struggled to hold earlier gains made after upbeat Wall Street earnings, with MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.19 percent.”The participation is sort of muted with individual portfolios not doing well. Only Nifty-based portfolios are protected … frustrating investors,” said Deepak Jasani, head of retail research at HDFC Securities.”They are disappointed their portfolio values do not seem to reflect Nifty’s bullishness seen in recent times,” Jasani said.Nifty mid-cap 50 index fell as much as 1.8 percent and is down over 13 percent this year as of the last close.Technicals suggest Nifty has strong support at 10,929 points whereas 11,046 acts as a strong resistance. The BSE index, which hit a record high on Wednesday, has strong support at 36,278 and resistance at 36,692.Housing Development Finance Corp and Tata Consultancy Services, down nearly 1 percent each, were the top drags on the NSE index.Mid-cap IT stock Mindtree Ltd lost 12.2 percent, its biggest intraday fall since Sept. 2011. Larsen & Toubro Infotech Ltd and Hexaware Technologies Ltd were also trading lower.State-run lenders, however, gained with the Nifty index of PSU banks trading 1.6 percent higher. Bank of Baroda Ltd advanced 3.9 percent.Consumer stocks advanced, with Hindustan Unilever gaining 1.3 percent.last_img read more

The Deadman to rise again Undertaker returns to SmackDown on September 10

first_imgWWE WebsiteArguably the greatest figure in the history of pro-wrestling, The Undertaker, is coming back to WWE’s flagship weekly program SmackDown. He would be part of a special episode that would take place at the iconic Madison Square Garden on September 10.This would be a special moment for the former World Heavyweight Champion as it would be his first appearance on an episode of SmackDown at the legendary arena. September 10 would also be special because both Raw and SmackDown will take place back-to-back at the same venue.The Undertaker had been out of action for a substantial amount of time at the beginning of the year and also was absent from Wrestlemania 35. In this time, he appeared out of character on some non-WWE shows. Eventually, WWE decided to re-sign the superstar and agreed on a highly-lucrative contract for the Deadman.Since then, the superstar has made numerous appearances on WWE and has also competed in two matches. His contest with Goldberg had turned out to be a complete disaster while a tag-team match, with Roman Reigns as his partner, against Shane McMahon and Drew McIntyre fared better.WWE has also teased a storyline between the Phenom and Hall of Famer Sting. Only time will tell whether this appearance of Undertaker would lead to a new feud.last_img read more

JioPhone tops Indias feature phone market Samsung close second in Q1 2019

first_imgJioPhoneRIL Press KitWith 30 per cent market share, Reliance JioPhone has become the leading feature phone brand in India in the first quarter of 2019, Counterpoint Research said on Friday.While the smartphone market offers a big opportunity, one can’t ignore the 400 million feature phones users in the Indian market which too is likely to stay for the next five years in India, said Counterpoint’s “India Smartphone Market Share Q1 2019” report.Samsung stood second in the feature phone category with a share of 15 per cent while domestic handset maker LAVA grabbed the third spot with a market share of 13 per cent.Unlike the smartphone market, which contracted for the first time in 2018, the feature phone market has continued to grow over the last three years, the report said.Earlier in March, a Counterpoint Research report had estimated that a little more than 400 million feature phones would be sold globally this year. Feature phone shipments are also expected to cross one billion units by 2021.Brokerage firm CLSA’s telecom sector outlook for February had noted that Jio will lead the subscriber market share this year. Currently, Jio now has a customer base of 30.6 crore.last_img read more