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Top 10 stories of the week: October 24th to October 30th 2016

In no particular order, here are MediaNama’s top 10 stories of the week ended 30th October 2016

MediaNama would like to thank its sponsors: Akamai, Fortumo, Info Edge, MapmyIndia, Microsoft, Times Internet, Xapads and E2E for their support.

– Samsung’s Note 7 recall: Revenues decline by $2.84 billion YoY

Samsung, which has been suffering from the Note 7 recall fiasco, reported total revenues of $41.74 billion (47.8 trillion Won), a 7.5% decline from $38.9 billion (44.54 trillion Won) in the same quarter last year. The decline was mainly due to the Note 7 problem, with its mobile division reporting sales of $19.3 billion (22.1 trillion Won), down by 15% year-on-year from $22.6 billion (25.9 trillion Won) and 15% quarter-on-quarter from $22.8 billion (26.1 trillion Won).Read it here

– Amazon net profit down with more investments on video and fulfillment centres

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Amazon’s net profit stood at $252 million for the quarter ended September 2016, down 70.59% from the preceding quarter. Net profit was lower as Amazon continues to invest in more fulfillment centres and costs related to video associated marketing.

Net sales, however, stood at $32.7 billion growing 29% from $25.4 billion in the same quarter last year. On a sequential basis, net sales increased 7.57% from $30.4 billion.Read it here

– Info Edge net profit soars 159% to Rs 80.06 crore due to tax writeback

Internet company Info Edge has posted a net profit of Rs 80.06 crore for the quarter ended September 2016. This was up a whopping 159.89% from Rs 30.8 crore from the same quarter last year. On a sequential basis, net profit was up 80.51% from Rs 44.355 crore.Read it here

– MakeMyTrip posts a net loss of $34.9 million in September quarter

Online travel agent MakeMyTrip has reported a loss of $34.9 million for the quarter ended September, 2016 (Q2 FY17). This is the 16th straight quarter of losses for the company. Losses were up from $12.2 million in the same quarter last year. However, the company reported revenues of $83.1  million during the quarter which was up 26.89% from $64.5 million in the same quarter last year.Read it here

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– Airtel’s data revenues at Rs 3583.1 Cr with broadband making for 65% of data connections

Airtel made Rs 3583.1 crore from its Mobile Internet services accounting for around 24.7% of Airtel’s mobile revenues in the quarter ended September 2016 (Q2 FY17). The mobile Internet revenues grew to 22.04% year-on-year. The pace of growth slowed as compared to 35% in the preceding quarter.Read it here

– Handsets mandated to support Indian language keyboards July 1st 2017

By July 1st 2017, all handsets being manufactured, stored, sold and distributed in India will have to support the inputting of text in English, Hindi and at least one more official Indian language (of 22), and support reading of text in all these languages, as per an order passed a couple of days ago by the central government.Read it here

– Idea Money’s total transactions increased 21% to 3.32M

Idea Money’s user base increased to 5.012 million in Q2 FY17 showing a growth of 47.1% from the preceding quarter. The transaction count increased 21.6% to 3.32 million from 2.747 million in the previous quarter but the the average transaction value decreased 5.08% to Rs 317 from Rs 334 in the preceding quarter. The total transaction value increased 15.2% q-o-q to Rs 105.5 crore.Read it here

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– Maharashtra City Taxi Rules 2016: The good & the unnecessary

The Maharashtra Government released its draft of City Taxi Rules 2016 for online cab aggregators earlier this month for the Mumbai metropolitan area. Among its requirements was that app based taxis run on clean fuel, have a designated uniform and not accept street hails. The government will finalise these rules on 5th of November, taking into consideration suggestions from all the involved stakeholders.Read it here

– Maharashtra Govt’s app based cab aggregator rules: Fixed fares & no street hails

Licensed cab operators in Maharashtra must have vehicles running on clean fuel (unleaded petrol, CNG, Hybrid or electrical power), have separate colour scheme for vehicles and fares prescribed by the government, the state’s draft City Taxi Rules say.Read it here

– Uber says Maharashtra taxi rules ‘unviable’; suggests open pricing

Uber has written to the Devendra Fadnavis, the chief minister of Maharashtra, stating that it welcomes the move to segregate guidelines for app-based taxis in the state, but some of the rules in the proposed Maharashtra City Taxi Rules 2016 would hurt its business in the state.Read it here

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