News Digest: Twitter, Nokia, Saholic, Micromax, Tata Sky & More


Twitter has announced that it will be extending its Twitter archiving service to support 12 more languages including Dutch, Farsi, Finnish, French, German, Hindi, Hebrew, Hungarian, Malay, Norwegian, Polish, and Spanish.

The company had first introduced an archiving service in December 2012, allows Twitter users to download all their Tweets, including retweets from the launch of its service in 2006. Users can request for their Twitter archives from their account settings page.

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Nokia has partnered with New India Assurance to offer handset insurance plans for thefts, burglary, malicious acts, riots, among others. The company claims that insurance premium starts at Rs 50 and customers will have to pay 1.25 percent of the handset cost for the plan. The handset insurance plans are available only at Nokia branded retail stores at Delhi & NCR, Jaipur, Mumbai, Ahmedabad, Pune, Kolkata, Chennai, Hyderabad, Bengaluru and Cochin.

Nokia’s insurance plan will offer users with free pickup and drop services in six cities including Delhi & NCR, Mumbai, Bangalore, Hyderabad Chennai and Kolkata; Cashless service; and Standby devices and chargers.

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Saholic.com, Spice Group’s* online retail store which offers Mobiles, Tablets, Laptops & Accessories, has also partnered with New India Assurance to offer one-year worldwide theft insurance on mobile handsets, reports Business Standard. The report states that customers will have an option to pay an additional 1.5% of the handset cost as premium for the theft insurance, while purchasing the handset.

The company also plans to extend this theft insurance service to other mobility products like tablets, laptops, accessories and cameras in the future. It also plans to introduce damage insurance for products sold on its portal in the next four to eight weeks. Interestingly, it also noted that 70% of its revenues are currently from Mobile handset sales, although it didn’t disclose any specific information on this.

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Micromax is reviving its Initial Public Offer (IPO) plans to help its private equity investors to sell a part of its stake, reports The Economic Times. Citing three sources who familiar with this development, the report states that the investors will be soon appointing an investment bank for Micromax IPO in 2013.

Micromax had raised three rounds of funding till now. This includes a $10 million investment from a Chinese fabless semiconductor provider Spreadtrum Communications, in 2012. a Rs 200 crore ($43 million) investment from Sequoia Capital, Sandstone Capital LLC and Madison India Capital in September 2010, and a $45 million investment from TA Associates in late 2009.

In July 2011, Micromax had withdrawn its proposed initial public offering, citing erratic market conditions. Through the IPO, the company was planning to sell 10% stake for Rs 426 crore and had filed a red herring prospectus in September 2010.

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Viacom might buy a 50% stake in ETV’s regional general entertainment channels, reports Business Standard. Viacom currently has a 50:50 joint venture with Network18, called Viacom18 which houses the entertainment businesses of TV18.

It should be noted that TV18 bought 50% stake in R-GECs including ETV Marathi, ETV Kannada, ETV Bangla, ETV Gujarati and ETV Oriya from RIL in 2012. The company had also mentioned that it had an option to buy the balance 50% interest in ETV non Telugu GEC Channels and additional 24.50% interest of ETV Telugu Channels.

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DTH service provider Tata Sky has introduced a new VoD-DIY (Do-it-Yourself) section as part of its Video on Demand (VoD) service for all its Tata Sky+ HD subscribers, reports EFYTimes. The company claims that the service will offer 600 videos across various genres like Musical Instruments, Health & Fitness, Ayurveda, Hobbies, Cooking, and Beauty & Skincare among others. It also hopes to add another 400 videos to this service in the next couple of months.

*Disclosure: Spice Digital is an advertiser with MediaNama


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