Counterpoint ‘Grossly Underestimated Our Numbers’, Says Xiaomi India Head Manu Jain

Counterpoint 'Grossly Underestimated Our Numbers', Says Xiaomi India Head Manu Jain

Less than 24-hours after the Counterpoint Research’s Market Monitor analyst report stated thatMicromax’s Yu is outselling Xiaomi online, and that Xiaomi registered a 46 percent drop in smartphone shipments (its first-ever drop in the country), Xiaomi has issued a counterpoint of its own by saying it sold record 1 million plus units in Q2 (July to September).

Addressing this difference directly, Xiaomi India head Manu Jain says that the company does not track analyst reports regularly but adds that there have been some changes to Xiaomi’s business in recent times which could explain the discrepancy, saying, “they [have] grossly underestimated our numbers”.

“For one thing, the numbers we report are units sold, not just shipped, and I’m not sure if this is the case for the other brands, which should explain some of the difference,” says Jain. “The million mark we are announcing today is phones sold.”

Another reason for the discrepancy, Jain says, could be in the fact that Xiaomi isn’t importing all the handsets it sells in India anymore. “In Q3, we also started our Make in India initiative, and the Redmi 2 Prime, which is manufactured in India is our highest selling SKU right now,” says Jain.

All units of the Redmi 2 Prime, and some units of the Redmi 2 are being made in Foxconn’s Sri City facility, and the rest of Xiaomi’s inventory is still imported. However, Jain was not willing to specify what percentage of its sales comes from the made in India products, so it’s not clear if this could really be why Counterpoint’s data contradicts what Xiaomi is saying.

Xiaomi is bringing more and more products to open sales, Jain adds, as it gets better at managing the demand-supply equation. “We had much more supply-demand disparity when we first came to India, but we have been able to move to open sale for almost all our products,” says Jain. “Demand is still more than we can keep up with some times, but make in India is helping us change this. It’s been much more successful than we were expecting, and I’m hoping that at some point in the future, most of our inventory sold here will also be made here.”

He added that in terms of e-commerce too, Xiaomi has been seeing a strong positive reaction from the audience here in India, and pointed out during the Diwali sale the company started a few days ago, it saw over 1 million unique visits on in a single day, and added that the store has seen over 10 million visits.


Ted Cruz Says Would Deport Illegal Immigrants, Sharpens Immigration Stance

Ted Cruz Says Would Deport Illegal Immigrants, Sharpens Immigration StanceTed Cruz speaks at a rally at the Boys and Girls Club of Truckee Meadows in Reno, Nevada February 22, 2016. (Reuters Photo)

WASHINGTON:  Republican presidential candidate Ted Cruz vowed to deport immigrants living illegally in the United States and build a wall to keep others out, sharpening his stance on the issue a week before presidential contests in several southern states.

Cruz’s comments on the eve of today’s Nevada caucuses came hours after the public firing of his main spokesman over misleading social media postings involving rival Marco Rubio.

Rubio won endorsements on Monday from prominent Republicans as he sought to become the party’s mainstream alternative to front-runner Donald Trump after Jeb Bush dropped out of the race for the 2016 Republican presidential nomination.

Cruz was asked on Fox News’ “O’Reilly Factor” if he would round up the 12 million illegal aliens in the country, and how.

“Listen, we should enforce the law. How do we enforce the law? Yes, we should deport them. We should build a wall. We should triple the Border Patrol,” Cruz said. “And federal law requires that anyone here illegally that’s apprehended should be deported.”

Asked if he, like real estate tycoon Trump, would go out and look for them, Cruz replied, “Of course you would. That’s what ICE (Immigration and Customs Enforcement) exists for. We have law enforcement that looks for people who are violating the laws.”

The comments marked a shift from last month, when Cruz rejected sending authorities to find immigrants as “police state” tactics.

“I don’t intend to send jackboots to knock on your door and every door in America. That’s not how we enforce the law for any crime,” Mr Cruz told CNN in an interview on January 10.

Cruz has repeatedly criticized Rubio for having embraced a sweeping immigration reform bill he characterizes as amnesty.

Cruz and other Republican candidates vying to represent their party in the November 8 presidential election have been under pressure to toughen their stance on immigration by Trump’s ferocious rhetoric on the issue.

Trump responded to Cruz’s comments with a trademark Twitter taunt on Tuesday, referring the US senator from Texas’ third-place finish in South Carolina’s primary on Saturday.

“Ted Cruz only talks tough on immigration now because he did so badly in SC. He is in favour of amnesty and weak on illegal immigration,” Trump said.

The New York billionaire has said he would deport all undocumented immigrants, build a wall and rescind US President Barack Obama’s executive orders on immigration.


PF May be Withdrawn Online from August, Says EPFO Official

PF May be Withdrawn Online from August, Says EPFO OfficialNew Delhi: Retirement fund body EPFO may launch by August an online facility to withdraw provident fund, a move that will reduce paperwork and provide hassle-free service to its subscribers.

With the new facility, settling PF withdrawal claims would just take few hours.

“We are hopeful of launching an online facility for PF withdrawal claims by August this year. We have already digitised our records and processes using Oracle operating system,” a senior EPFO official told PTI.

“EPFO will soon buy blade servers for setting up three Central Data Centres at Gurgaon, Dwarka (Delhi) and Secunderabad. All the three centres will be connected to 123 offices of the Employees’ Provident Fund Organisation (EPFO),” he said.

The process of procuring servers would be completed by May while the testing would start in June to gauge the response of the system in place.

“After intensive testing and trials in June and July, we are planning to launch the online PF withdrawal facility in August this year,” the official said.

Once this is operational, subscribers can apply online for PF withdrawal, which will be transferred directly to their bank accounts.

At present, subscribers who wish to settle their accounts with the EPFO are required to apply manually.

For settling online claims, the subscribers would have to activate their Universal (portable PF) Account Numbers which are seeded with KYC details including bank accounts, Aadhaar number and permanent account number.

The EPFO has over five crore subscribers. As many as 6.15 crore UANs were issued by EPFO out of which 2.34 crore were activated by the subscribers so far.

Twitter laughs after Govinda says sorry and offers Rs 5 lakh to fan he slapped eight years ago

Twitter laughs after Govinda says sorry and offers Rs 5 lakh to fan he slapped eight years ago
Photo Credit: AFP
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He was Hero No. 1 and Coolie No.1 through his reign in the ‘90s as the king of slapstick comedy in Bollywood, before trying his hand at politics in 2000s. But not much has been heard about Govinda since his term as Member of Parliament ended in 2009. Now, he’s back in the limelight in rather bizarre circumstances.

On Tuesday, Govinda offered an unconditional apology and Rs 5 lakhs to a fan he slapped on sets of a film in 2008. Still a parliamentarian at the time, Govinda was supposedly provoked by the alleged misbehavior of a fan named Santosh Rai while Money Hai Toh Honey Hai was being shot at Filmistan Studio in Mumbai.

Rai’s case was initially quashed by the Bombay High Court, but the Supreme Court took up the case last year. Govinda’s lawyers had contended that a video clip of the slap had been doctored, but the court rejected this claim.

The Supreme Court had previously faulted Govinda for failing to act with grace and dignity.

On Tuesday, the judges asked Govinda to meet Rai within two weeks and negotiate a settlement. After the hearing, Govinda declared, “I have immense love and respect for my fans who also wanted me to apologise.”

Govinda’s apology and particularly the compensation he offered had social media laughing. Here’s a selection: