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Krafton launches ‘Game Responsibly’ drive to promote responsible gaming habits

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South Korean video game developer Krafton Inc. is driving a ‘Game Responsibly’ campaign for BGMI (Battlegrounds Mobile India).

Starting with a series of films, the campaign encourages gamers to take a pledge of taking care of themselves and their squad mates’ mental health as they take on the Battlegrounds. It promotes safer and responsible gaming habits and builds awareness amongst players to cultivate safer and healthy gaming habits.

The first film which is out on YouTube addresses parents and tackles the core problem of continuous gaming in a light-hearted manner. The second film will encourage players to occasionally “look up” from the phone they’re always buried into. Overall, the films drive home the message of responsible gaming with BGMI’s safety features. These films reinforce the significance of the campaign, and will work with key gamers and partners to raise awareness.

One of the first games in the world to implement measures for the well-being of its players, including steps to reduce game time, this initiative is primarily aimed at promoting better game-life balance while enjoying the Battlegrounds.

Battlegrounds launched with an array of efforts to make sure that while players have a fun time playing BGMI, they take adequate care of their physical and mental health, and parents are also equipped adequately with tools to impart healthy checks and balances while playing BGMI.

“We care deeply for our gamers, hence we acted. These changes have been made to ensure responsible gaming practices are adopted by gaming enthusiasts; specially minors. It also asserts the integrity and fairness of our business practices of putting community first. Yes, we aim to offer the best entertainment and experiences to our gamers, but at the same time mental and physical health of our players remains one of our top priorities,” said Wooyol Lim, Head of Battlegrounds Mobile Division at Krafton.

Building a responsible gaming culture in a country that loves video games is crucial. The campaign pivots on addressing the imbalance behind continuous gaming to bring balance to the game, and aims to raise awareness about building a responsible gaming culture for all gamers.

Also Read | Krafton rolls out 1.7.0 for Battlegrounds Mobile India

Here are some important steps which exist within the game for parents to know, and understand.

Virtual World Warning Message: Just before the game starts, we have made sure that our players are aware of the virtual world they are entering. The in-game audio reinforces that this game exists in a virtual world and is not their real life.

OTP Authentication: Every player, below the age of 18, needs to register a parent or a guardian before they start play for the first time. An OTP will be sent to the registered person’s number, post which the minor is allowed to play the game.

Breaktime Reminders: Some games can get intense and make players lose track of time. But with our timely breaktime reminders, we have made sure that our players get the required downtime. These reminders help them look up from their game and get back to real life, maintaining a healthy game-life balance.

Gameplay Limits: With a strict gameplay limit in place, we have made sure that players below 18 years do not indulge in gaming for more than 3 hours per day. This automatically helps them treat gaming as an activity performed in moderation.

Daily Spend Limits: We have also set an in-game daily spend limit of Rs 7,000 that automatically stops them from overspending and overgaming.

Moderated Game Graphics: We have sensitised in-game graphics to inculcate a healthy and responsible gaming culture. We have reduced violence, bloodshed and set parameters that keep the language in check.

Also Read: Tech NewsWrap: Play to launch two new smartwatches in India… and more

Tech NewsWrap: Play to launch two new smartwatches in India… and more

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Play to launch two new smartwatches in India

Domestic wearable brand Play is all set to launch its new smartwatches in India. The yet-to-launch smartwatches will sport a round dial and will have Bluetooth calling functionality. The models also appear to be integrated to their proprietary android and iOS application, PlayFit. According to the company, these smartwatches will be available to purchase from November 30, 2021 at the competitive pricing of Rs 3,999 for PlayFit Slim and Rs 4,999 for PlayFit Strength.

OnePlus RT, Buds Z2 to launch in India next month

The OnePlus RT and Buds Z2 TWS earphones are tipped to launch in India in December, 2021. The OnePlus RT is likely to be the same as the OnePlus 9RT that was unveiled in China last month. The colour options of OnePlus RT and OnePlus Buds Z2 have also been leaked. Besides, the TWS earbuds by OnePlus come with active noise cancellation support and include 11mm drivers.

Apple to use its own modem chip for iPhones in 2023

As per the reports, Apple has roped in TSMC (Taiwan Semiconductor Manufacturing Co.) to manufacture custom 5G modems for iPhones in 2023. The partnership with the Taiwanese chipmaker could see 5G iPhone modems being produced from 2023. Apple analyst Ming-Chi Kuo had earlier claimed that such a modem chip could see the light of day by 2023. Also, a new report by Nikkei Asia corroborates the claim made by the tech analyst.

Fold partners with Niantic to create AR-based Bitcoin rewards app

Pokémon Go developer Niantic has joined hands with payments app Fold to launch an alternate vision for the metaverse where players can earn Bitcoin. Currently, the feature is available for Fold App users to play in beta that enables them to earn Bitcoin and in-app benefits by exploring their physical surroundings. Niantic is working on expanding this experience, buoyed by Coatue’s most recent $300 million (approx. Rs 2,234.7 crore) investment into the company.

Also Read: Madhya Pradesh’s Aakansha Gupta crowned first-ever National Fantasy Cricket Champion

“Aisle is a high-intent dating app that measures its success by the number of relationships it enables”

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Gone are the days of traditional dating! The advent of technology has brought about a radical change in the dating culture of India. You can find the love of your life within a few clicks on your smartphone – install a good dating app, create an engaging profile, and get the ball rolling! Homegrown Aisle is one such high-intent dating app that measures its success by the number of relationships it enables. It’s designed exclusively for Indians keeping Indian sentiments in mind, and is the second most downloaded dating app in India. Able Joseph, Founder and CEO, Aisle, shares with Ramesh Kumar Raja the different facets of this match-making platform and how it’s setting the trend with regulatory framework in place. Excerpts:

Technology has given a new dimension to the dating culture across the world. How it’s playing a vital role in match-making?

Dating apps have changed how people think and approach social relationships and personal connections. Earlier the search for a life partner was limited to one’s network and meeting someone online, especially on a dating app was considered a taboo. But the advent of dating apps warmed up people to the concept of finding love online. Dating apps have provided people more freedom and liberty to choose a partner beyond their network and connect with people having a different worldview, something that earlier seemed impossible.

What makes Aisle different from other dating apps such as OkCupid, Tinder, Bumble, etc. available in the market?

Aisle is designed exclusively for Indians keeping Indian sentiments in mind. Profiles on Aisle have information such as Faith, Mother Tongue, etc which are important to most Indians when trying to find a life partner. We also don’t subscribe to the ‘swipe culture’ and hence users on Aisle cannot meaninglessly ‘swipe’ on faces, which brings in a lot of intent into the usage of the product.

The one thing singles are looking for on dating apps is to establish the intent of the user they have matched with. This is much harder on casual dating apps compared to other platforms. This is where Aisle stands out.

Aisle is a high-intent dating app that measures its success by the number of relationships it enables. We enable more relationships per 1000 users than any other dating app in India. We believe a good product can speak for itself, and as it goes Aisle’s CAGR over the last 3 years stands at 85%, all organically.

Can you please tell us about your most unique features?

Since its inception, Aisle has been a platform for users to build long-term meaningful relationships which is why we were well-positioned to adapt and respond to the new normal brought about by the pandemic. Within a few months of the first lockdown, we launched a new live-streaming feature called ‘Rooms’ for users to interact before matching. This feature allowed individuals to host a virtual ‘Room’ and begin an audio conversation with any other interested users after which the host could either choose to match or to pass. By the end of 2020, we introduced another feature ‘Aisle Concierge’ a premium service that allowed users to browse through a collection of handpicked potential matches all in one place without having to ‘Like’ or ‘Pass’ every profile. Aisle has always been a platform that empowers Indian singles to find long-term and meaningful relationships. Early in 2021, we launched the ‘Settle Down’ feature that allows users to gauge a potential partner’s timeline of settling down. This brings better clarity and users don’t have to second guess the intentions of people they are connecting with on the app.

We have also seen that a staggering proportion of the population in tier 2 and tier 3 cities is expressing their emotions and ideas through vernacular languages. Hence, we launched ‘Arike’, India’s first vernacular dating app for Malayalees residing in and out of India. The success of Arike, led us to the launch of ‘Anbe’ and ‘Neetho’ for Tamil and Telugu audiences, respectively.

How has been the response so far? How many downloads has it accumulated till date and what has been its retention rate?

Aisle is India’s second most downloaded dating app and the market leader in high-intent dating. Unlike casual ones, high-intent dating apps are customized for a certain demographic, have detailed profiles and track success stories as their measure of accomplishment. Aisle has been downloaded over 6,000,000 times from the App Store and the Play Store.

The response we have seen so far has been phenomenal. We also understand Indian sensitivities and know how regional influences play a role in choosing a partner. Keeping this in mind, we first launched ‘Arike’ for Malayalee audiences. Within 6 months of Arike’s launch, we introduced ‘Anbe’, a customised dating app for Tamil audiences. The total member base on our portfolio apps has now touched ~6.5 million. Recently, we launched ‘Neetho’ for Telugu singles. We plan to launch one more vernacular app by the end of year and truly want to bring customised regional dating to all parts of India.

The COVID-19 pandemic must have been a blessing in disguise for Aisle. Can you please tell us about your experience in challenging times?

The pandemic not only brought the world to a screeching halt but also forced people to spend more of their lives online. Driven by isolation, boredom, and lack of social connections, both romantic and platonic, a lot of singles ultimately joined dating apps. As the lockdown extended, boredom turned into loneliness and the need for a partner became pronounced. Casual dating apps could not cater to this need because the intent of the users on such apps remained largely unestablished and the gamification of the process of finding a partner did not help either. Hence, making way for high-intent dating apps to be at the forefront.

At Aisle, we added 2 million users in 2020 alone. Even during the lockdown, matches per user increased by 20 per cent, and conversations by 12 per cent on our platform. Our users were spending more time on the app and were engaging in longer conversations with their matches. We also noticed a surge in the matches in tier 2 and tier 3 cities. In 2020, 45% of Aisle’s revenue came from tier 2 and tier 3 cities compared to 38% in 2019.

What is your monetisation model and how do you ensure the security of your data?

Aisle is a subscription-based matchmaking company. While our products are free, members can pay to avail of certain privileges via Aisle Premium, Aisle Concierge, and Boosts. With Aisle Premium, a user can send 5 Invites daily. Invites are a great way of reaching out to potential matches directly via a written note. Users with Aisle Premium can also see other members who’ve expressed interest in their profile, and set additional preferences so that the algorithm would suggest more relevant profiles, etc. Subscribing to Aisle Concierge allows a member to browse through thousands of curated profiles without having to Like or Pass each profile. This is our most sought-after subscription on Aisle. We also have a feature called Boost, which if enabled, will give better visibility to the profile for up to 3 days.

All our products are hosted on the best-in-class servers built and managed by leading companies like Amazon. We also hire ethical hackers every time we have a major feature release to look for bugs and ensure that the data of the users are protected.

Do you have any regulatory framework for the users to be disciplined on the platform?

Most Aisle users have a purpose as the intent of most users is established. We do not have the level of inappropriate behaviour like casual dating apps. Having said that, we have zero-tolerance policy for cyber-stalking, bullying and harassment of any kind. If a user is reported by multiple users, their account is automatically suspended until we review the requests.

“We do not have the level of inappropriate behaviour like casual dating apps. Having said that, we have zero-tolerance policy for cyber-stalking, bullying and harassment of any kind. If a user is reported by multiple users, their account is automatically suspended until we review the requests”

How safe is your platform for women?

Women have always been at the forefront of high-intent dating. Since women take the lead, our focus from day one has been to create a community of people who maintain online dating etiquette. We give priority to women for deciding whom they want to connect with. At Aisle, women can initiate the conversations if they anonymously match with someone. Our numbers state that around 90% of the first messages between matches are sent by women. Women can also opt to Block and Report a member anonymously if they feel uncomfortable during the interaction. Aisle users who are verified can choose to hide their first name and display only their initial.

What is the future of dating apps in India?

According to a Google KPMG report, Indian language internet users are expected to grow at a CAGR of 18% to reach 536 million by 2021, while English users are expected to grow at only 3% reaching 199 million within the same period. The growing number of first-time internet users in tier 2 and 3 cities in India, in line with Digital India and affordable data, means that players leveraging regional audiences have massive growth potential to reach hundreds of millions of non-Hindi/English users. This is the future of dating apps in India. Apps that will focus on building customised experiences for people residing in ‘Bharat’. Dating apps will not just be a platform to meet people but also act as an enabler for long term relationships.

“We want to break the language barrier of India and tap communities by building vernacular apps. We have launched three vernacular apps and plan to launch one more by the end of the year. As vernacular dating gains popularity, we will enter niche markets and geographic areas by customising apps for varied demographics”

What is your future roadmap to be a dominant player in the dating space?

When Aisle started, our first 100 members were acquired simply by word of mouth. Fast forward to today, we still have many members, who found Aisle different from other dating apps, and recommend it to their friends and family. We value quality over quantity and so as a high-intent dating app, our focus is on community building. We want to break the language barrier of India and tap communities by building vernacular apps. We have launched three vernacular apps and plan to launch one more by the end of the year. As vernacular dating gains popularity, we will enter niche markets and geographic areas by customising apps for varied demographics.

Madhya Pradesh’s Aakansha Gupta crowned first-ever National Fantasy Cricket Champion

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Team My Mobile
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National Fantasy Cricket Championship (NFCC) hosted on BalleBaazi.com, which started with an objective to boost the fantasy sports landscape in India, concluded on a high note with Aakansha Gupta – a CA aspirant, hailing from Madhya Pradesh being crowned the ultimate champion with 783.5 points.

With BalleBaazi.com’s only 1% userbase consisting of women participants, the achievement stands unique. As number 1 on the leaderboard, Aakansha will take home the winning prize pool and an opportunity to travel Lord’s Cricket Ground – the Mecca of Cricket.

The 23-days long multi-tier tournament recorded over 1.8 lakh total entries from across the country and saw over 62 lakhs teams being made during the period of the tournament, finally resulting in 11 fantasy cricket players being crowned champions from nine different states (Delhi, Madhya Pradesh, Bihar, Rajasthan, Gujarat, Uttar Pradesh, Jharkhand, West Bengal and Haryana).

Saurabh Chopra, Co-Founder & CEO of BalleBaazi.com said, “NFCC has truly outdone our expectations and has set the standards for the upcoming editions of the tournament which is scheduled to be organized alongside IPL 2022. Though, this was the very first edition the tournament, it has certainly set the tone for changing the perception about fantasy sports from “just about money” to “all about glory”. Further, I would want to congratulate Aakansha and all other 10 winners on their achievement.”

Also Read | Zaheer Khan roped in as the brand ambassador of BalleBaazi.com

All the 11 winners will soon meet BalleBaazi.com’s brand ambassador and the World Cup 2011 hero, Zaheer Khan along with legendary batsmen, S. Badrinath. While Aakansha gets the ultimate glory, the ten other winners will be awarded with a golden bat along with exclusive leaderboard cash prizes.

Talking about her victory and experience, Aakansha Gupta said, “NFCC was truly a unique experience for me. I have been indulging in fantasy sports since long but haven’t had the opportunity to compete in such a large-scale tournament where we felt that we are truly progressing in our own matchups as the tournament progresses. I would like to congratulate all the other winners and BalleBaazi.com for coming up with such a unique concept.”

The grand finale of National Fantasy Cricket Championship took place on the same day as the final of the T20 World Cup on November 14, 2021. However, due to a tie for the top spot, the winner couldn’t be decided on the same day. Aakansha finally prevailed in a tough tiebreaker defeating Dayanidhi Sahoo from Gujarat for the ultimate crown in the 3rd T20I between India vs New Zealand. Both the players played across different fantasy cricket formats on BalleBaazi.com. While Aakansha won in Classic, Reverse and Innings Fantasy formats, Dayanidhi ruled the batting fantasy format. It was a tie between both the champions in Bowling fantasy.

Also Read: TCL partners with MyGlammFilmfare OTT Awards 2021 as Associate Sponsor

PlayShifu launches AI-powered product line Tacto

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Leading early learning toy brand PlayShifu has launched the first-ever phygital (physical+digital) board games Tacto with four innovative products Tacto Chess, Tacto Classics, Tacto Coding and Tacto Laser that help merge essential skills with playtime. Built on innovative touch technology and AI, Tacto by PlayShifu turns your tablet into an interactive game where the player gets to use real figurines to drive the games on screen.

Tacto is the third flagship line from PlayShifu, the innovators behind Orboot and Plugo, with all products focusing on building a full spectrum of 20 foundational skills through fun and interactive gameplay. With global presence, the brand is carving a niche by going beyond STEM and STEAM, through the #PowerofPlay. In addition to their own website, PlayShifu sells in over 300 retail stores across India and aims to double their presence in the country, by the end of 2022.

“Tacto series is one of our best innovations for making toy time interesting for the digital-first Gen Alpha. We took nostalgic board games and brought them to the 21st century using technology. We are beyond thrilled to launch the 4 Tacto products in India,” said Co-founder and CEO Vivek Goyal.

“We are manufacturing all our 3 product lines (Orboot, Plugo, Tacto) here in India to meet the growing demands for our innovative and educational products. With the launch of Tacto, and among other retail and online efforts, we aim to achieve 100% growth in sales in FY23 over FY22,” added Co-founder Dinesh Advani.

With real figurines and digital games, Tacto Chess offers the easiest way to learn chess with detailed learning mode, mini puzzles, and story-based themes. Tacto Coding makes learning visual for early learners through story-based games. Tacto Classics makes nostalgic board games like Checkers, Ludo, and Snakes & Ladders interesting and engaging for Gen Alpha. Tacto Laser encourages players to use principles of light like reflection and refraction to solve brain-teasing puzzles.

This highly-anticipated and innovative Tacto line enables children as young as four to develop essential early learning skills like logical reasoning, problem-solving, strategic thinking, working memory and more. The Tacto game sets are available on the PlayShifu website, Amazon, and multiple retail stores. Also, Hamleys India is featuring Tacto Coding as one of its Top 10 toys for December.

Each Tacto set is priced at Rs 1,999 and comes with a unique set of figurines and anti-slip frames that hold your tablet securely. All four gaming sets are compatible with a range of tablets (iOS and Android) and work with the free Tacto app that has 3 or more story-based games with hundreds of levels for each product.

TCL partners with MyGlammFilmfare OTT Awards 2021 as Associate Sponsor

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Television manufacturer TCL aims to provide the customers with a cinematic experience at home with their range of televisions featuring the latest technology. In its mission to upscale home entertainment, TCL has now joined hands with Filmfare for MyGlammFilmfare OTT Awards 2021 as the Associate Sponsor.

Over the last few years, OTT platforms have dominated the world of Indian entertainment that has also led to TV manufacturers focusing more on offering products that can suit the modern content type. The post lockdown period has given more power and value to home entertainment. TCL too recognized this transformation and joined hands with Filmfare to honour the OTT talents.

Filmfare Awards have acknowledged and recognized cinematic excellence in the mainstream film business for over six decades, and the launch of the second edition sees the brand carry on its heritage into the digital entertainment sphere.

As a testament to its philosophy of #CreativeLife, the brand together with Filmfare will honour the finest talents on the OTT platform and promote entertaining creativity.

Mike Chen, General Manager, TCL India said, “We at TCL are utterly excited and proud to partner with Filmfare for this exciting and creative venture. We have always been working towards creating and innovating products that can make the life of people easy and add more entertainment to it. Similarly, Filmfare also acknowledges OTT talents especially those who have taken up the arduous task to keep people entertained even in difficult times. The second edition of the Filmfare OTT Awards will celebrate the spirit of victory of entertainment, and we look forward to honouring artists and content that havestruck a chord with the audiences.”

Deepak Lamba, the CEO of Worldwide Media said, “Given the legacy, Filmfare Awards has always been at the forefront of celebrating artistic brilliance across the Indian entertainment ecosystem. While we continue to extend the tradition to the Indian OTT industry, we are happy to partner with a brand that’s working towards enhancing the cinematic experience for customers in the comfort of their homes. We believe this is a perfect partnership of two brands that have been associated with the world of entertainment for decades now.”

Also Read: BenQ retains no.1 position in DLP Projector market for Q3 2021: Futuresource Consulting Report

BenQ retains no.1 position in DLP Projector market for Q3 2021: Futuresource Consulting Report

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BenQ once again recognized as the no. 1 brand in the DLP Projector category. It achieved the no. 1 recognition in the top 3 Projector categories winning a tough fight against the market impacted by the pandemic. The company achieved the top spot as the no. 1 DLP Projector Brand with a 44% market share, the no. 1 Short Throw Projector Brand with 49.1% market share and no. 1 4K UHD Projector Brand with 44.1% market share according to Futuresource Consulting report for Q3 2021 for India.

The projector industry witnessed a de-growth of 17% in 2021 as compared to last year. The category is still facing strong headwinds due to the partial opening of education and corporate segment and the global semi-conductor shortage has compounded this downward momentum which is expected to continue till H1 2022. Additionally, there has been very limited supply for the entry level SVGA category models. Despite the difficult scenario, BenQ India has emerged as a winner showcasing commendable growth.

“We are delighted to be acknowledged by Futuresource Consulting as the no. 1 brand in projector across different segments. We witnessed a huge surge in the Home projector segment last year and the momentum is only getting stronger. The B2C projectors have seen a remarkable growth of 100% YOY in the 4K UHD segment delivering immersive and enriching entertainment at home. The rising demand for devices enhancing entertainment at home drives us to innovate more consumer-led advanced entertainment projectors. We are confident that the market growth is fuelling for increasing adoption of advanced technology and product innovation in projectors,” said, Rajeev Singh, Managing Director, BenQ India.

Futuresource Consulting is a market research consulting company that provides a range of specialist intelligence reports and ongoing personal debriefs to support business decision-making. The current overall performance of BenQ amplifies its commitment to offer its consumers quality products with innovation and technology at its forefront. The company values an open, encouraging, experimental, and inventive culture that strives to keep pioneering and fostering display products across categories with high-end new-age advanced technologies.

Also Read: Vodafone Idea hikes prepaid tariffs by 20%, all eyes now on RJio

Vodafone Idea hikes prepaid tariffs by 20%, all eyes now on RJio

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Following Bharti, VIL raises tariffs by 20%, effective from November 25, 2021. Its price plans are now similar to Bharti.

VIL’s ARPU is merely INR109, 40% below Bharti, due to high proportion of customers (two-third) being on low base plans of INR79. This too has now increased to INR99, compelling consumers to recharge to higher plans, offering a huge push to ARPU. However, this may result in further consolidation of dual SIM cards, increasing churn.

EBITDA can see a steep 70% rise

The tariff hike caters to 70% of its revenue pool (excluding postpaid and the B2B business), thus offering incremental revenue/EBITDA of INR55b/INR38b (2QFY22 annualized), i.e. a 14% / 68% increase. The hike should increase ARPU to INR128 v/s INR109 at present. The high operating leverage, given the low existing EBITDA margin of a mere 17% v/s Bharti’s 49%, should drive higher growth compared to Bharti’s 24% increase in EBITDA.

Risk of downtrading is low, but the churn is high

The price plans are designed in a way that there is lower risk of downtrading. At present, the majority of its subscribers opt for the 84/56 days (1.5GB) data plans, which have limited option to downgrade. The next lowest plan offers 34% lower monthly outgo (i.e. INR179/28 day price plan), but reduces the data allowance by ~95%, to merely 2GB/month.

Also Read | Vodafone Idea’s financial stress to impact various stakeholders; govt support critical: ICRA

Last hike saw a very low (~20%) flow through in EBITDA

The previous tariff hike of over 25% taken in Dec’19 saw an EBITDA increase of INR15b on an annualized basis (over 2Q-4QFY20), i.e. a mere 20-25% of our expected EBITDA upside. This is much lower than Bharti’s ~INR44b EBITDA increase, i.e. nearly 80% of our estimated EBITDA upside. This could be due to market share loss due to SIM card consolidation, despite similar pricing across peers. The estimated EBITDA increase runs the risk of significant EBITDA dilution due to market share loss.

Cash flow crunch partly addressed

The recent government moratorium on regulatory payment (spectrum and AGR) has offered VIL relief from the annual outgo of ~INR220b. The tariff hike will improve cash flows as EBITDA has the potential to increase to INR95b annually from INR55b to service its estimated annual cash requirement of INR80-100b towards capex and bank debt servicing. But the continued market share loss and subscriber churn could potentially derail the cash generation similar to the previous hike. In order to stabilize earnings, VIL needs large funding to significantly accelerate its current network investment of INR50b, which is much lower than Bharti/RJio’s INR150-200b annual India capex, despite their far deeper 4G network. It also has repayments of INR64b due over Dec’21 to Mar’22.

Valuation and view

Despite the pace of subscriber decline reducing in the past couple of months, the continuous churn in subscribers is making it challenging to sustain EBITDA. VIL’s weak liquidity position, despite the price hike, may force it to rationalize network investments, as evident from the lower capex intensity, which poses a risk of continued subscriber churn. The recent government relief package, followed by the tariff hike of 20%, may improve cash flows and attract capital. But the significant amount of cash required to service its debt, leaves limited upside opportunity for equity holders, despite the high operating leverage opportunity from improved ARPU. The current low EBITDA would make it challenging to service its debt without an external fund infusion. Assuming 11x EV/EBITDA and a net debt of INR1.9t leaves a limited opportunity for equity shareholders. We maintain our neutral rating.

Also Read: Xiaomi reports steady revenue and profit growth in Q3

Paytm Money launches Margin Pledge feature, allowing users access new trading opportunities

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Paytm today announced that its wholly-owned subsidiary Paytm Money has launched ‘Margin Pledge’ feature. It will allow users to pledge their existing stocks and ETFs in return for a collateral margin that can be used for trading in stocks, ETFs, futures, and options.

Investors holding a portfolio of stocks might miss out on trading opportunities due to the unavailability of funds. To address this problem, Paytm Money has introduced the ‘Margin Pledge’ feature, which is a process in which users can pledge their stocks to the broker in return for a collateral margin that can be utilized for trading.

To understand this with an example, let us assume an investor who holds shares worth Rs 200,000. Now a trading opportunity arises but due to lack of funds, the investor is unable to seize it. The user can pledge his or her existing stocks to the broker. The broker deducts a haircut of say 20% from the total value of stocks, i.e. Rs 40,000 and gives the remaining value of Rs 160,000 as a collateral margin which can be used for trading opportunities.

Paytm Money has leveraged innovative technology to simplify the process of pledging and un-pledging, reducing it to just a few clicks. The collateral is received within 30 minutes during trading hours and collateral calculation is done in real-time. Pledged stocks remain in users’ demat accounts, are eligible for all corporate actions, and can also be sold directly.

F&O and Intraday traders are amongst the major sources of revenue for Paytm Money. These traders often need leverage in order to take advantage of multiple trading opportunities. The Margin Pledge feature will make the platform more attractive to these users and allow them to increase their trading activity. A minimal charge of Rs 10 + GST per stock will be imposed on each pledge and unpledge request. The launch of the ‘Margin Pledge’ feature has the potential to increase revenues both directly and indirectly for Paytm Money.

Varun Sridhar, CEO, Paytm Money said, “At Paytm Money, we have leveraged technology to continue improving user experience and empower them with all potential opportunities. The launch of the Margin Pledge feature will allow investors to use their existing portfolio to take advantage of new trading opportunities. We have designed the feature such that users can complete the entire process within a few clicks making their trading experience seamless.”

This feature is accessible to select users and is being rolled out to more users. It is currently available on Android and Website and will be available on iOS soon.

Also Read: OnePlus 10 Pro: Specifications, Price, India Launch date leaked

Xiaomi reports steady revenue and profit growth in Q3

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Xiaomi Corporation, a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core, today announced its unaudited consolidated results for the three and six months ended September 30, 2021.

In the third quarter of 2021, Xiaomi’s total revenue amounted to RMB78.1 billion, representing an increase of 8.2% year-over-year, adjusted net profit for the period was RMB5.2 billion, an increase of 25.4% year-over-year. Impacted by global macro-environment as well as market sentiment towards the technology sector in China in the third quarter, Xiaomi’s long-term investments measured at fair value through profit or loss in the current period have generated unrealized financial losses, which have had a substantial impact on Xiaomi’s net profit. Nonetheless, Xiaomi’s core business profitability maintained steady growth. Xiaomi showcased excellent business model and operation with total revenue and adjusted net profit both maintained solid growths.

Meanwhile, Xiaomi global MIUI 30-day active users has exceeded 500 million as of 22 November, 2021, marking another milestone for Xiaomi’s “Smartphone x AIoT” strategy.

Q3 2021 financial highlights:

  • Total revenue at RMB78.06 billion, up 8.2% YoY;
  • Gross profit at approximately RMB14.29 billion, up 40.6% YoY;
  • Non-IFRS adjusted net profit was RMB5.18 billion, up 25.4% YoY.

Xiaomi Corporation said, “During the third quarter of 2021, we continue to strengthen our core ‘Smartphone × AIoT’ strategy and advance in the premium smartphone market. We ranked 1st in terms of smartphone shipments in 11 countries and regions. We continued to explore and innovate in product and technology to further enhance our competitiveness in the premium market. Our internet services revenue reached a new quarterly high and we remain committed to investing in research and development that underpins our products’ core competitiveness.” As of 22 November, 2021, Xiaomi’s global MIUI 30-day active users exceeded 500 million, marking another milestone for the “Smartphone x AIoT” strategy.

Quarterly Performance Review

Internet services revenue reaching new quarterly high

In the third quarter, Xiaomi’s profitability continued to strengthen as internet services revenue reached RMB7.3 billion, reaching a new quarterly high, representing an increase of 27.1% year-over-year. The gross profit margin of the internet services segment was 73.6%, 13.1 percentage points higher than the same period of last year.

Meanwhile, the Group’s global internet user base continued to expand rapidly in the third quarter. As of November 22, 2021, global MIUI 30-day active users exceeded 500 million for the first time, marking another milestone for Xiaomi’s global expansion. In September 2021, the MAU of MIUI increased 32.0% year-over-year to 485.9 million, among which the number of MAU in Mainland China rose to 127.3 million, a year-over-year increase of 16.4% and a net gain for the fourth consecutive quarter. In September 2021, MAU of Xiaomi’s global smart TV and Xiaomi Box expanded over 33.0% year-over-year. As of September 30, 2021, the Group’s number of TV paid subscribers was 4.7 million, a 13.5% increase on a year-over-year basis.

In the third quarter of 2021, Xiaomi’s advertising revenue reached RMB4.8 billion, up 44.7% year-over-year, primarily due to expanding user base, higher percentage of premium smartphone users and stronger monetization capabilities. Xiaomi’s gaming revenue reached RMB1.0 billion, increasing 25.0% year-over-year due to the strong performance of high-quality new games and higher gaming average revenue per user (“ARPU”) driven by premium and gaming smartphones. Xiaomi’s revenue from other value-added services amounted to RMB1.6 billion in the third quarter. In the second quarter of this year, Xiaomi’s Youpin ecommerce platform rolled out its new consumer brand, Life Element, which offers a wide range of high-quality day-to-day products at competitive prices. Most recently, in November 2021, Youpin also launched its UP paying membership system to consistently improve the online shopping experience of its users.

In the third quarter of 2021, Xiaomi’s overseas internet services revenue increased by 110.0% year-over-year to RMB1.5 billion, accounting for 19.9% of total internet services revenue, setting another quarterly record. Going forward, we will continue to expand and deepen collaborations with the Group’s global business partners and actively explore new internet service offerings in the overseas markets.

Xiaomi remains committed to investing in research and development, which boosts its products’ core competitiveness. In the first three quarters of 2021, the Group’s cumulative research and development expenditures reached RMB9.3 billion, representing an increase of 51.4% year-over-year. In September 2021, Xiaomi introduced Xiaomi Smart Glasses, boasting a visualized information display and interactive features. In November 2021, Xiaomi launched Loop LiquidCool Technology, which improves smartphone heat dissipation under heavy usage. As of September 30, 2021, Xiaomi’s research and development team totaled 13,919 employees, accounting for more than 44% of total employees.

Robust overseas revenue with smartphone shipments ranked No. 1 in 11 countries and regions

Xiaomi’s revenue from overseas markets reached RMB40.9 billion during the third quarter of 2021, accounting for 52.4% of total revenue. Despite the global shortage of key components, Xiaomi solidified its market position by optimizing global market resource allocation and reinforcing its channels in accordance with local market conditions. According to Canalys, Xiaomi’s market share of smartphone shipments in the third quarter ranked No. 1 in 11 countries and regions and among the top five in 59 countries and regions globally.

Xiaomi continued to deepen its global market presence in the third quarter. According to Canalys, in the third quarter of 2021, Xiaomi ranked No. 2 in Europe with a smartphone market share of 21.5%. In Western Europe, Xiaomi smartphone market share reached 17.0% and ranked among the top three in terms of shipments; in Central and Eastern Europe, Xiaomi ranked No.2 with 28.7% smartphone shipment market share. In the third quarter of 2021, Xiaomi sold over 6.8 million smartphones through carrier channels in overseas markets excluding India, representing an increase of over 130% year-over-year. According to Canalys, Xiaomi smartphone market share in Western Europe carrier channels increased from 4.6% in the third quarter of 2020 to 13.0% in the third quarter of 2021.

At the same time, Xiaomi continued to strengthen its competitiveness in emerging markets. According to Canalys, in the third quarter of 2021, Xiaomi market shares in Latin America, the Middle East and Africa reached 11.5%, 16.3% and 7.3%, respectively. In addition, Xiaomi has maintained No. 1 position in smartphone shipments in India for the 16th consecutive quarter.

Q3 smartphone shipments ranked 3rd globally with continuous advancements in the premium market

In the third quarter of 2021, despite the global shortage of key components, the Group’s global smartphone shipments still reached 43.9 million. According to Canalys, in the third quarter of 2021, the Group’s global smartphone shipments ranked No. 3 with a market share of 13.5%. The Group’ smartphone revenue totaled RMB47.8 billion with a gross margin of 12.8%, an increase of 4.4 percentage points year-over-year.

Xiaomi user segmentation strategy and new products allowed the Group to broaden its user base. For many of its new smartphones launched this year, over half of the users are new Xiaomi users. Xiaomi introduced the brand-new Xiaomi Civi Series in September 2021 and was well received by users.

In the first three quarters of 2021, global shipments of Xiaomi’ smartphones priced at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets, totaled approximately 18 million, accounting for more than 12% of total shipments. In overseas markets, total shipments of smartphones priced at or above EUR300, or equivalent, grew by more than 180% year-over-year during the third quarter, mainly in Latin America, Western Europe and the Middle East.

During November’s Singles’ Day Shopping Festival, Xiaomi and Remi brand smartphones together ranked No.1 in sales volume on Tmall.com, JD.com and Suning.com. The Group’s premium smartphones also ranked No.1 among Android smartphones priced above RMB4,000 on Tmall.com and JD.com. In addition, during the shopping festival, total sales volume of Xiaomi’ smartphones from its offline channels increased by more than 110% year-over-year.

“Smartphone x AIoT” strategy continues, new retail growth efforts accelerated

Xiaomi IoT and lifestyle products segment revenue was RMB20.9 billion during the third quarter of 2021, increasing 15.5% year-over-year. Notably, the Group’s overseas IoT and lifestyle products revenue reached a new record high despite the challenges in maritime shipping logistics overseas this quarter.

In the third quarter, against the backdrop of a year-over-year decline in global sales volume of TVs, Xiaomi’s global smart TV shipments reached 3.0 million with a year-over-year revenue increase of 19.5%. According to All View Cloud (“AVC”), Xiaomi’s TV shipments ranked No. 1 in mainland China for the 11th consecutive quarter and among the top five globally in the third quarter of 2021.

In addition, Xiaomi has expanded its premium smart home appliances categories to help users create a healthy and comfortable living environment. In the third quarter, Xiaomi launched smart home appliances including the Xiaomi 550L Four-door Smart Refrigerator and the Xiaomi Mini Washing Machine. Xiaomi’s smart ventilated air conditioners also performed well. During the November’s Singles’ Day Shopping Festival, Xiaomi’s cumulative sales of home appliances ranked No. 3 on JD.com.

Xiaomi’s AIoT platform continues to expand. As of September 30, 2021, the number of connected IoT devices (excluding smartphones, tablets and laptops) on its AIoT platform exceeded the 400 million marks for the first time. The number of users with five or more devices connected to its AIoT platform (excluding smartphones, tablets and laptops) exceeded 8 million.

This year Xiaomi accelerated its new retail growth efforts, further solidified its lead in online channels while rapidly expanding offline channels. As of the date of this announcement, the total number of Xiaomi’s retail stores in mainland China surpassed 10,000. Xiaomi expects the further growth in lower-tier market penetration will allow the Group to serve more users in mainland China.

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