Panasonic to move its European HQ out of the UK because Brexit

Panasonic to move its European HQ out of the UK because Brexit
Chalk up yet another Brexit deficit: Japanese electronics firm Panasonic will be moving its European headquarters from the UK to Amsterdam in October because it’s worried about the tax implications if it stays, the Nikkei Asian Review reports.
The company is concerned it could face tax liabilities if the UK shifts its corporate tax regime as a result of Brexit.
Laurent Abadie, CEO of Panasonic Europe, told the publication Japan could treat the U.K. as a tax haven if the country lowers its corporate rate — as the government has indeed suggested it will to try to make itself a more attractive destination for businesses once it’s outside the European Union’s trading bloc.
In November 2016 the UK Prime Minister announced a review of the country’s corporate tax rate — saying the government could move to substantially cut the rate below the current 20%.
Prior to that, former chancellor George Osborne pledged to cut the rate to below 15%.
At the same time as announcing the rate review, the PM unveiled a package of business-focused measures — intended to try to quell fears around Brexit. Although a rate cut evidently isn’t friendly to every business.
In the case of Panasonic, it’s concerned that if the U.K. gets designated a tax-haven by Japan it could be saddled with back taxes back home. So moving to stay regionally headquartered within the European Union removes that risk.
Abadie also told the Nikkei Asian Review that moving its regional HQ to continental Europe will help it avoid any barriers to the flow of people and goods thrown up by Brexit.
The shape of any deal — or even whether there will be a deal between the UK and the EU, post-Brexit — still remains to be seen just a few months before the UK is scheduled to exit the EU, in March 2019. So businesses are having to make key decisions based on possible or potential outcomes.
Meanwhile the UK’s regulatory influence in the region continues to be diminished…

In terms of trade, access to talent, and regulatory influence, we're relegating ourselves to the second division.
— Ian Dunt (@IanDunt) August 30, 2018

Source: Gadgets – techcrunch

Huawei bags Apple’s 2nd place spot in global smartphone sales: Gartner

Huawei bags Apple’s 2nd place spot in global smartphone sales: Gartner

Another analyst has Huawei overtaking Apple in the global smartphone rankings for the second quarter this year. The latest figures from Gartner put Huawei ahead on sales to end users in Q2.

Overall, Gartner says sales of smartphones to end users grew 2% in the quarter, to reach 374 million units.

The analyst pegs the Chinese smartphone maker with a 13.3% marketshare, saying it sold ~49.8M devices in the quarter, up from 9.8% in the year before quarter — ahead of Apple, which it calculates took an 11.9% marketshare (down from 12.1% in Q2 2017), selling ~44.7M iPhones.

According to Gartner’s figures, Samsung also lost share year-over-year — declining 12.7% in the quarter.

The Galaxy smartphone maker retained its no.1 spot in the rankings, with 19.3% in Q2 (vs 22.6% in the equivalent quarter last year) and ~72.3M devices sold. Though Gartner notes it’s being squeezed by “ever-growing competition from Chinese manufacturers”, while slowing demand for its flagships are squeezing its profitability. Not a happy combination.

In recent years Huawei has been one of a handful of Chinese OEMs bucking the trend of a slowing global smartphone market. And Gartner’s data suggests Huawei’s smartphone sales grew 38.6 per cent in the second quarter.

As we noted earlier this month, when other analysts reported Huawei outstripping Apple on smartphone shipments in Q2, the handset maker has built momentum for its mid-range Honor handset brand while performing solidly at the premium end too, with devices such as the P20 Pro (albeit while copypasting Apple’s iPhone X ‘notch’ screen design in that instance.)

“Huawei continues to bring innovative features into its smartphones and expand its smartphone portfolio to cover larger consumer segments,” said research director Anshul Gupta in a statement. “Its investment into channels, brand building and positioning of the Honor devices helped drive sales. Huawei is shipping its Honor smartphones into 70 markets worldwide and is emerging as Huawei’s key growth driver.”

For Apple the quarter was a flat one (0.9% growth), though that’s to be expected given Cupertino structures its mobile release cycle around a big-bang annual smartphone refresh in the fall, ahead of the holiday quarter, rather than releasing devices throughout the year.

Even so, Gupta noted that Apple is also facing growing competition from Chinese brands, which in turn is amping up pressure on the company to innovate its handsets to keep increasingly demanding consumers happy by delivering “enhanced value” in exchange for the iPhone’s premium price.

And recent reports have suggested Apple is prepping a number of iPhone design changes for fall, including a splash of color.

“Demand for the iPhone X has started to slow down much earlier than when other new models were introduced,” he added, sounding another note of concern for Apple.

Fourth placed Chinese OEM Xiaomi is one device maker putting pressure on longer term players in the smartphone market. In Q2 Gartner reckons the company sold ~32.8M devices, carving itself an 8.8% marketshare — up from 5.8% in the year ago quarter.

The analyst’s data also shows Google’s Android operating system further extending its lead over Apple’s iOS in Q2, securing 88% market share vs 11.9% for iOS.

While the smartphone market is no longer a simple duopoly on the device maker front, with Huawei elbowing past Apple to bag the second spot in the global rankings, it remains very much the opposite story where smartphone operating systems are concerned.

And Gartner’s data now records the ‘other’ category of smartphone OSes at a 0.0% marketshare, down from 0.1% in the year ago quarter…

Source: Mobile – Techcruch

Musical.ly investor bets on internet radio with $17M deal for Korea’s Spoon Radio

Musical.ly investor bets on internet radio with M deal for Korea’s Spoon Radio

One of the early backers of Musical.ly, the short video app that was acquired for $1 billion, is making a major bet that internet radio is one of the next big trends in media.

Goodwater Capital, one of a number of backers that won big when ByteDance acquired Musical.ly last year, has joined forces with Korean duo Softbank Ventures and KB Investment to invest $17 million into Korea’s Spoon Radio. The deal is a Series B for parent company Mykoon, which operates Spoon Radio and previously developed an unsuccessful smartphone battery sharing service.

That’s much like Musical.ly, which famously pivoted to a karaoke app after failing to build an education service.

“We decided to create a service, now known as Spoon Radio, that was inspired by what gave us hope when [previous venture] ‘Plugger’ failed to take off. We wanted to create a service that allowed people to truly connect and share their thoughts with others on everyday, real-life issues like the ups and downs of personal relationships, money, and work.

“Unlike Facebook and Instagram where people pretend to have perfect lives, we wanted to create an accessible space for people to find and interact with influencers that they could relate with on a real and personal level through an audio and pseudo-anonymous format,” Mykoon CEO Neil Choi told TechCrunch via email.

Choi started the company in 2013 with fellow co-founders Choi Hyuk jun and Hee-jae Lee, and today Spoon Radio operates much like an internet radio station.

Users can tune in to talk show or music DJs, and leave comments and make requests in real-time. The service also allows users to broadcast themselves and, like live-streaming, broadcasters — or DJs, as they are called — can monetize by receiving stickers and other virtual gifts from their audience.

Spoon Radio claims 2.5 million downloads and “tens of millions” of audio broadcasts uploaded each day. Most of that userbase is in Korea, but the company said it is seeing growth in markets like Japan, Indonesia and Vietnam. In response to that growth — which Choi said is over 1,000 percent year-on-year — this funding will be used to invest in expanding the service in Southeast Asia, the rest of Asia and beyond.

Audio social media isn’t a new concept.

Singapore’s Bubble Motion raised close to $40 million from investors but it was sold in an underwhelming and undisclosed deal in 2014. Reportedly that was after the firm had failed to find a buyer and been ready to liquidate its assets. Altruist, the India-based mobile services company that bought Bubble Motion has done little to the service. Most changes have been bug fixes and the iOS app, for example, has not been updated for nearly a year.

Things have changed in the last four years, with smartphone growth surging across Asia and worldwide. That could mean different fortunes but there are also differences between the two in terms of strategy.

Bubbly was run like a social network — a ‘Twitter for voice’ — whereas Spoon Radio is focused on a consumption-based model that, as the name suggests, mirrors traditional radio.

“This is mobile consumer internet at its best,” Eric Kim, one of Goodwater Capital’s two founding partners, told TechCrunch in an interview. “Spoon Radio is taking an offline experience that exists in classic radio and making it even better.”

Kim admitted that when he first used the service he didn’t see the appeal — he claimed the same was true for Musical.ly — but he said he changed his tune after talking to listeners and using Spoon Radio. He said it reminded him of being a kid growing up in the U.S. and listening to radio shows avidly.

“It’s a really interesting phenomenon taking off in Asia because of smartphone growth and people being keen for content, but not always able to get video content. It was a net new behavior that we’d never seen before… Musical.ly was in the same bracket as net new content for the new generation, we’ve been paying attention to this category broadly,” Kim — whose firm’s other Korean investments include chat app giant Kakao and fintech startup Toss — explained.

Source: Mobile – Techcruch

Samsung’s official launch video for the Galaxy Note 9 has also now leaked…

Samsung’s official launch video for the Galaxy Note 9 has also now leaked…

The official launch promo video for Samsung’s next flagship smartphone in the long-running Galaxy Note line — the Note 9 — appears to have leaked, with links to the video now cropping up on YouTube.

And via Twitter…

The forthcoming phablet has been pretty comprehensively leaked already. And clearly hasn’t had a radical (cosmetic nor form factor) makeover. (This is not the fabled folding phone Samsung is slated to be working on for next year.)

The Note 9 will also be officially unveiled on August 9. So Samsung fans don’t have long left to wait for any last minute details they were keen to nail down.

But, in the few days remaining, the Samsung-branded video offers a more polished look at what’s going to be up for pre-order next week…

Samsung kicks off touting the power of the Note 9 — telling us it’s not just powerful but “super powerful” (leaked benchmarks have previously suggested a big performance boost); and with a bottoms-up ports & rear view pan that shows a 3.5mm headphone jack sitting in the frame — confirming my TC colleague Brian Heater’s eagle eye.

Also of note: A repositioned fingerprint sensor (now in a less stupid location below the dual lens camera housing).

Next, the video flips focus to a snazzy yellow (or is that gold?) S Pen stylus, which Samsung describes as “all new powerful”, before showing its physical button being pressed by an invisible force (human, we hope) which then does a spot of aimless doodling.

After this, Samsung moves to brag about the Note 9’s “all day battery” (which it’s confidently teased before — so the company looks to have put the Note 7 battery fiasco well and truly behind it), although the usual small print disclaimers warn about variable battery performance.

On the storage front, there’s a big bold claim of the device being “1 terabyte ready” — although this is on account of a 512GB SD card shown being pulled out of the expandable memory slot.

And in the small print displayed on the video at that point the company caveats that the 1TB claim is for 512GB models equipped with another 512GB in expandable memory (at the owner’s separate expense).

“The power to store more” [photos] “Delete less” [photos] is what the company’s marketing team has come up with to try to excite people over the utility of owning a smartphone that can have 1TB in storage capacity. i.e. if you stump up extra for the extra storage.

The video shows a camera roll chock-full of stock photos of pets, snacks and people. Hopefully Note 9 owners will find more creative things to do with 1TB storage.

Source: Mobile – Techcruch

WhatsApp limits message forwarding in bid to reduce spam and misinformation

WhatsApp limits message forwarding in bid to reduce spam and misinformation

In a bid to cut down on the spread of false information and spam, WhatsApp recently added labels that indicate when a message has been forwarded. Now the company is sharpening that strategy by imposing limits on how many groups a message can be sent on to.

Originally, users could forward messages on to multiple groups, but a new trial will see that forwarding limited to 20 groups worldwide. In India, however, which is WhatsApp’s largest market with 200 million users, the limit will be just five. In addition, a ‘quick forward’ option that allowed users to pass on images and videos to others rapidly is being removed from India.

“We believe that these changes — which we’ll continue to evaluate — will help keep WhatsApp the way it was designed to be: a private messaging app,” the company said in a blog post.

The changes are designed to help reduce the amount of information that goes viral on the service, although clearly this isn’t a move that will end the problem altogether.

The change is in direct response to a series of incidents in India. The BBC recently wrote about an incident which saw one man dead and two others severely beaten after rumors of their efforts to abduct children from a village spread on WhatsApp. Reportedly 17 other people have been killed in the past year under similar circumstances, with police saying false rumors had spread via WhatsApp.

In response, WhatsApp — which is of course owned by Facebook has bought full-page newspaper ads to warn about false information on its service.

Beyond concern about firing up vigilantes, the saga may also spill into India’s upcoming national general election next year. Times Internet today reports that Facebook and WhatsApp plan to introduce a fake news verification system that it used recently in Mexico to help combat spam messages and the spreading of incorrect news and information. The paper said that the companies have already held talks with India’s Election Commission.

Source: Mobile – Techcruch

Samsung forecasts slowing profit growth for Q2, missing analyst estimates

Samsung forecasts slowing profit growth for Q2, missing analyst estimates

Samsung has put out earnings guidance for its Q2 which indicate quarterly growth at its slowest for more than a year — as a lack of new ideas to sell high end smartphones drags on the company’s bottom line.

The electronics maker is reporting estimated profit of 14.8 trillion Korean won (USD$13.2BN) on revenue of 58 trillion Korean won (USD$51.9BN) for the quarter.

Samsung’s expectation just misses an average estimate of 14.9 trillion won from 18 analysts polled by Thomson Reuters, and shares in the company are down just over 2 per cent on the earnings guidance news.

The Q2 forecast compares to profit of 15.64 trillion Korean Won (USD$14BN) on revenue of 60.56 trillion Korean Won (USD$54.2BN) for its Q1 — when Samsung reported a record operating profit off the back of growth in its semiconductor business plus the early global launch of its flagship Galaxy S9 smartphone.

Despite that Q1 high, it had prepared investors for a Q2 slowdown — warning in April of challenging conditions ahead, citing weakness in the display panel segment and a decline in profitability on the mobile side, amid rising competition in the high-end smartphone segment.

At the same time, the global smartphone market is shrinking — even in China, the erstwhile growth engine for smartphones after Western markets saturated. So Samsung’s smartphone business is facing a dual squeeze from shrinking sales opportunities and rising competition from the likes of China’s Huawei and Xiaomi — two rival Android device makers that have been carving out additional marketshare.

Meanwhile, Samsung’s main rival for high end smartphone profits, Apple, beat analyst estimates of iPhones shipments in its Q2 in May, despite an earlier miss in the holiday quarter — showing the staying power of its high end smartphone brand and a positive, if slow burn, response to how it’s iterating its mobile business, with the iPhone X.

Returning to Samsung, the positive story for the company — continued record growth for its chip business — is still not filling the smartphone-shaped profit hole in its books, even as restarting momentum in the smartphone segment is looking increasingly tough in a very tough market

The Galaxy S9 is a solid smartphone but serving up more of the same equals diminishing returns in the fiercely competitive Android space. And investors look circumspect, with shares in Samsung down around 12% this year.

One wild card on the device innovation front: Samsung has been teasing its R&D work to build a foldable smartphone for multiple years. Ahead of Apple’s iPhone X flagship launch last year Samsung suggested it was targeting 2018 to finally release a product.

However this is also a risky strategy given the obvious manufacturing challenges, and — beyond that — question marks over whether a foldable smartphone is really the type of mainstream innovation that could fire up major momentum among high end handset buyers or be viewed as a niche gimmick.

Source: Mobile – Techcruch

India’s Cashify raises $12M for its second-hand smartphone business

India’s Cashify raises M for its second-hand smartphone business

Cashify, a company that buys and sells used smartphones, is the latest India startup to raise capital from Chinese investors after it announced a $12 million Series C round.

Chinese funds CDH Investments and Morningside led the round which included participation from Aihuishou, a China-based startup that sells used electronics in a similar way to Cashify and has raised over $120 million. Existing investors including Bessemer Ventures and Shunwei also took part in the round.

This new capital takes Cashify to $19 million raised to date.

The business was started in 2013 by co-founders Mandeep Manocha (CEO), Nakul Kumar (COO) and Amit Sethi (CTO) initially as ‘ReGlobe.’ The business gives consumers a fast way to sell their existing electronics, it deals mainly in smartphones but also takes laptops, consoles, TVs and tablets.

“When we began we saw a lot of transaction for phone sales moving from offline to online,” Manocha told TechCrunch in an interview. “But consumer-to-consumer [for used devices] is highly opaque on price discovery and you never know if you’re making the right decision on price and whether the transaction will take place in the timeframe.”

These days, the company estimates that the average upgrade cycle has shifted from 20 months to 12 months, and now it is doubling down.

With Cashify, sellers simply fill out some details online about their device, then Cashify dispatches a representative who comes to their house to perform diagnostic checks and gives them cash for the device that day. The startup also offers an app which automatically carries out the checks — for example ensuring the camera, Bluetooth module, etc all work — and offers a higher cash payment for the user since Cashify uses fewer resources.

 

A sample of the Cashify Q&A for selling a device.

Beyond its website and app, Cashify gets devices from trade-in programs for Samsung, Xiaomi and Apple in India, as well as e-commerce companies like Flipkart, Amazon and Paytm Mall.

Used device acquired, what happens next is interesting.

The startup has built out a network of offline merchants who specialize in selling used phones. Each phone it acquires is then sold (perhaps after minor refurbishments) to that network, so it might pop up for sale anywhere in India.

With this new money, Cashify CEO Manocha said the company will develop an online resale site that will allow anyone to buy a used phone from the company’s network. Devices sold by Cashify online will be refurbished with new parts where needed, and they’ll include a box and six-month warranty to give a better consumer experience, Manocha added.

Today, Cashify claims to handle 100,000 smartphones a month, but it is planning to grow that to 200,000 by the end of this year. Cashify said its devices are typically low-end, those that retail for sub-$300 when new. A large part of that push comes from the online site, but the startup is also enlarging its offline merchant network and working to reach more consumers who are actually selling their device. That’s where Manocha said he sees particular value in working with Aihuishou.

Cashify is also developing other services. It recently started offering at-home repairs for customers and Manocha said that adding Chinese investors — and Aihuishou in particular — will help it with its sourcing of components for the repairs service and general refurbishments.

Cashify estimates that the used smartphone market in India will see 90 million phones sold this year, with as many as 120 million trading by 2020. That’s close to the 124 million shipments that analysts estimate India saw in 2017, but with surprisingly higher margins.

A reseller can make 10 percent profit on a device, Manocha explained, and Cashify’s own price elasticity — the difference between what it buys from consumers at and what it sells to resellers for — is typically 30-35 percent, he added. That’s more than most OEMs, but that doesn’t take into account costs on the Cashify side which bring that number down.

“When I sell to a reseller, the margins aren’t that exciting which is why we want to sell direct to consumers,” the Cashify CEO said.

The startup has plenty going on at home in India, but already it is considering overseas possibilities.

“We will focus on India for at least next 12 months but we have had discussions on markets that would make sense to enter,” Manocha, explaining that the Middle East and Southeast Asia are early frontrunners.

“We are working very closely with one of the Chinese players and figuring out if we can do some business in Hong Kong because that’s the hub for second-hand phones in this part of the world,” he added.

Note: The original version of this article was updated to correct that Amit Sethi is CTO not CFO.

Source: Mobile – Techcruch

Google invests $22M in feature phone operating system KaiOS

Google invests M in feature phone operating system KaiOS

Google is turning startup investor to further its goal of putting Google services like search, maps, and its voice assistant front and center for the next billion internet users in emerging markets. It has invested $22 million into KaiOS, the company that has built an eponymous operating system for feature phones that packs a range of native apps and other smartphone-like services. As part of the investment, KaiOS will be working on integrating Google services like search, maps, YouTube and its voice assistant into more KaiOS devices, after initially announcing Google apps for KaiOS-powered Nokia phones earlier this year.

“This funding will help us fast-track development and global deployment of KaiOS-enabled smart feature phones, allowing us to connect the vast population that still cannot access the internet, especially in emerging markets,” said KaiOS CEO Sebastien Codeville in a statement.

Our mobile world is dominated today by smartphones: there were about 1.6 billion of them sold last year. But feature phones have continued to move, too: it’s estimated that there were about 450 million-500 million of them shipped in 2017. And their sales are actually growing faster right now than their souped-up cousins.

KaiOS-powered phones play squarely in the latter category, and they are gaining traction in markets where feature phones still hold sway. In India, they have overtaken Apple’s iOS to become the second-most popular devices after Android handsets.

KaiOS tells us that there have been more than 40 million KaiOS phones shipped to-date, while data from Counterpoint research suggests its shipments grew 11,400 percent year-on-year to reach 23 million in Q1 2018. The research firm estimates that a more broad uptick in feature phone buying, fueled no doubt by Jio’s huge numbers and HMD Nokia, led to Android-based smartphone shipments declining 14 percent year-on-year in that same Q1 2018 period.

Google’s KaiOS investment could be seen as a way of introducing its services to feature phone users who might eventually graduate to smartphones. However, there is also scope for holding on to these users even as they stay in the feature phone category, which continues to evolve and become more functional.

“We’re excited to work with Google to deliver its services on more mobile devices,” said Codeville, the KaiOS CEO. “Having an intelligent voice assistant on an affordable mobile phone is truly revolutionary as it helps overcome some of the limitations a keypad brings.”

A Nokia device running KaiOS

KaiOS is a U.S.-based project that started in 2017, built on the ashes of Mozilla’s failed Firefox OS experiment, as a fork of the Linux codebase. Firefox OS was intended to be the basis of a new wave of HTML-5, low-cost smartphones. And while those devices and the wider ecosystem never really took off, KaiOS has fared significantly better.

KaiOS powers phones made by OEMs including Nokia (HMD), Micromax and Alcatel, and it works with carriers including Sprint and AT&T — it counts offices in North America, Europe and Asia. But its most significant deployment to date has been with India’s Reliance Jio, the challenger telco that disrupted the Indian market with affordable 4G data packages.

Reliance Jio offers its own range of KaiOS handsets, and coupling that with its low-cost data packages, KaiOS’ share of India’s phone market has reportedly jumped to 15 percent — overtaking Apple’s iOS in the process and putting it second behind only Android. (Jio’s own devices have actually increased the number of feature phones in India, such has been its impact in the country.)

That market share alone in a high-growth market like India is likely enough to pique Google’s interest.

“We want to ensure that Google apps and services are available to everyone, whether they are using desktops, smartphones, or feature phones.” said Anjali Joshi, VP of Product Management for Google’s Next Billion Users division, in a statement. “Following the success of the JioPhones, we are excited to work with KaiOS to further improve access to information for feature phone users around the world.”

Beyond this, the Next Billion business unit works on customizing the Google experience and services to fit the needs of new internet users in emerging markets, including the launch of new services like this neighborhoods app and a successful public WiFi program.

While Google continues to develop its Android smartphone platform, it has long been an advocate of expanding its services to other platforms, too, and that’s been the case with KaiOS.

In February, KaiOS announced that it would be adding Google Search, Google Maps and the Google Voice Assistant to the new Nokia 8110 feature phone, and it seems that this is the Google agreement that will be expanded to all models as part of Google’s investment.

To be clear, Google services are not the only ones on KaiOS. It added apps for Twitter and Facebook earlier this year, and it mixes dedicated KaiOS apps — WhatsApp is said to be coming — with others that are more basic HTML-5 web apps.

Google’s investment in KaiOS is the latest in a line of direct startup deals from the U.S. tech giant that sit alongside investments made by GV and CapitalG, its two investment arms. Google has also backed concierge service Dunzo and is partnering with the carrier Orange to make investments and potentially acquire startups in Europe, the Middle East and Africa.

Note: The original version of this post has been updated to provide more data around KaiOS shipments and Android shipment declines.

Source: Mobile – Techcruch

Xiaomi posts $1.1B quarterly loss ahead of much-anticipated IPO

Xiaomi posts .1B quarterly loss ahead of much-anticipated IPO

A month after it filed for a much-anticipated Hong Kong IPO, Xiaomi has revealed a little more financial information after a monster 621-page document disclosed a $1.1 billion (seven billion RMB) loss for the first quarter of the year.

The IPO, which could raise up to $10 billion value Xiaomi at high as $100 billion, is set to be the largest IPO raise since Alibaba went public in the U.S. in 2014. That prospect got a boost with a dose of positive financial growth despite a loss incurred by one-off payments.

The document filed was an application to issue a CDR as part of a dual-listing that would include Mainland China, showed that Xiaomi’s revenue for the quarter jumped to 34 billion RMB, or $5.3 billion. That’s compared to 114.6 billion RMB ($17.9 billion) in total sales for all of last year, according to digging from TechCrunch partner site Technode.

While Xiaomi posted a loss for the quarter, the firm actually posted a 1.038 billion RMB ($162 million) profit for the period when one-time items are excluded. Xiaomi previously registered a 43.9 billion RMB ($6.9 billion) loss in 2017 on account of issuing preferred shares to investors (54 billion RMB) but it did post a slim profit in 2016.

The company is ranked fourth based on global smartphone shipments, according to analyst firm IDC, and it is one of the few OEMs to buck slowing sales in China.

China is, as you’d expect, the primary revenue market but Xiaomi is increasingly less dependent on its homeland. For 2017 sales, China represented 72 percent, but it had been 94 percent and 87 percent, respectively, in 2015 and 2016. India is Xiaomi’s most successful overseas venture, having built the business to the number one smartphone firm based on market share, and Xiaomi is pledging to double down on other global areas.

Interestingly there’s no mention of expanding phone sales to the U.S., but Xiaomi has pledged to put 30 percent of its IPO towards growing its presence in Southeast Asia, Europe, Russia “other regions.” Currently, it said it sells products in 74 countries, that does include the U.S. where Xiaomi sells accessories and non-phone items.

Despite its design progress, relative age as an eight-year-old company and the fact it is shooting for a $100 billion, Xiaomi left some spectators disappointed when it wheeled out a very iPhone X-looking new device earlier this month. While the company claims the Mi 8 is packed with new technology, it’s hard to look past the fact that a number of its visual designs are identical to Apple’s flagship smartphone. Xiaomi could have made a stronger statement of intent with the launch, but it will hope its financials can do the talking as it moves into the last moments of preparation before its public listing.

Source: Mobile – Techcruch

Indiegogo expands its efforts to help Chinese startups reach global consumers

Indiegogo expands its efforts to help Chinese startups reach global consumers
While crowdfunding company Indiegogo has been running a pilot program in China for the past couple of years, it’s now building on those efforts with the launch of the Indiegogo China Global Fast-Track Program.
CEO David Mandelbrot is in Shenzhen, China this week to announce the program, which is designed to help Chinese entrepreneurs reach a global audience. In an email, he told me:
The China Pilot Program is officially out of pilot phase — today, we are officially launching the Indiegogo Global Fast Track. During the pilot phase, the team experimented with different ways to help service Chinese brands and manufacturers who were looking to launch products overseas. After helping companies raise over $100 million and launch over 3,000 China-based projects over two years time, the team has finalized its new suite of services.
Those services include guidance around crowdfunding and marketing in the United States and other countries, access to a network of more than 65 service providers (including retailers and marketing firms, as well as Indiegogo’s manufacturing partner Arrow Electronics and shipping partner Ingram Micro) and Chinese-to-English consultation with bilingual staff.
Even while in the pilot phase, Indiegogo has had some success stories in helping Chinese companies launch globally. For example, Bluetooth headphone company crazybaby raised more than $4 million across three campaigns.
Mandelbrot said Indiegogo also has opened a satellite office in the Tencent incubator in Shenzhen — a manufacturing hub that’s become a hub for hardware startups, too.

Source: Gadgets – techcrunch