india

India has overtaken Japan to become the world’s third largest market for smartphones, joining China and the US on the podium.

In some ways, it’s unsurprising. With a population of over a billion people India is bound eventually to be among the largest markets for pretty much anything. What is interesting is how Indians are using their phones – and the local handset makers that are seeing lightning fast growth.

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As India’s IT sector looks to new markets for growth, the country’s fourth largest IT company, Wipro, has announced that it will pay $30m for a minority stake in the privately held Opera Solutions, a US organisation that works in predictive and prescriptive data analytics.

That translates into helping companies use data to manage costs, risks and other areas of the business. It’s a high-value element of the IT sector that many Indian companies are trying to expand into as growth in other services has tailed off.

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Indian makers of tablet computers are elbowing their way into the domestic market, which is expected to expand rapidly in the next few years, writes Avantika Chilkoti

Although Samsung and Apple feature strongly in the Indian tablet market, figures from the International Data Corporation, an information technology research company, show India’s two leading domestic manufacturers have grabbed a market share of more than 20 per cent.

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Already the third-largest online user base in the world, India has the potential to double its economic contribution from the internet in the next three years.

India could see a surge in the internet’s role in the economy from 1.6 per cent of the country’s GDP in 2011, to up to 3.3 per cent in 2015, putting it near developed countries on this measure, according to a McKinsey report.

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India may be the world’s second largest mobile phone market by users but so far it hasn’t been a major focus for Apple. In the absence of the iPhone, Samsung and BlackBerry have led the way in the country.

More recently, however, that has begun to change. Just as BlackBerry launches its first smartphone in India under the BlackBerry 10 operating system, Apple is joining the fray with a big push in the developing market.

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Tech news from around the web:

In a number of security issues exposed in the last 24 hours, Chinese hackers claim to have infiltrated the secure smart card system used by US Government employees, according to a report by AlienVaultRead more

Tech news from around the web:

British billionaire Sir Richard Branson has made a ‘multimillion-dollar’ investment in mobile payment start-up company Square, a spokesperson for the company has told Reuters. The move  follows a $100m investment led by venture capital firm Kleiner Perkins Caufield & Byers and an injection by credit card company Visa.

Adobe Systems is said to be scrapping its move to bring its Flash Player software to smartphones and tablets, CNET reports. The Flash browser plug-in is widely used on personal computers but has so far only reached a fraction of the mobile phone market.  Read more

David Gelles

Indian PayPal users can once again use local banks to withdraw money from their accounts, resolving a hiccup that for weeks had prevented users in the world’s second most populous country from getting cash from their accounts.

The trouble began last month, when Indian regulators threw a wrench into PayPal’s business in the country as they investigated whether PayPal, the world’s largest online payments company, should be considered a remittances business.

As a result, PayPal stopped allowing users to transfer funds directly from one personal account to another, and also made it impossible for its customers in India to withdraw PayPal funds through a bank, effectively shutting down the only method for retrieving an account’s balance. Person-to-person transfers will likely be suspended for a few months as the company works with regulators to obtain new licenses that will allow it to legally handle remittances. Read more