Korean electronic major Samsung said it has partnered state-run telecos BSNL and MTNL to provide high-end handsets for their 3G services and is looking at up to 45 per cent of its total sales being generated from multimedia and touchscreen phones.
"We have partnered BSNL and MTNL to promote 3G services in India. We are currently giving a special bundling offer for BSNL consumers on our select handsets for 3G services," Samsung India Electronics President and CEO Jung Soo Shin said.
He said, "We have also provided handsets to MTNL to offer 3G services in Delhi."
Samsung today launched an 8 megapixel touchscreen, 3G enabled phone 'Ultra' priced at Rs 27,500 in India. The handset is capable of offering speedy internet access, video telephony, streaming and multimedia services.
"Samsung already has four touchscreen phones available in the Indian market, all of these are 3G enabled," Shin said.
"We are looking at touchscreen and multimedia phone portfolio to contribute 40-45 per cent of our total sales by the end of the year," Samsung Telecom Division Country Head Sunil Dutt said.
Agencies
Thursday, April 2, 2009
Are Satyam employees set to join BoA?
About 250-300 employees at fraud-hit Satyam Computer Services are joining Bank of America, a newspaper said on Wednesday.
The employees were working on a Satyam project for Merrill Lynch, which was taken over by the US bank after it was hit by the subprime crisis last year, it said.
The project was not renewed by Merrill after Satyam was caught in country's biggest corporate scandal and the work of managing its database and providing infrastructure support would now be done in-house, the paper said.
The first of these employees will join Bank of America between April 2 and 8, it said, adding they have been given salary increases of around 10 per cent and joining bonuses.
A spokeswoman for Satyam said, "The report is speculative." An official at Bank of America-Merrill Lynch in India said she could not immediately comment.
Satyam, whose market value has slid to $505.6 million from $7 billion last May, is in the midst of a bidding process to find a new buyer. It plunged into a crisis in January after its founder quit as chairman revealing profits had been falsified for years.
Engineering conglomerate Larsen & Toubro and mid-sized outsourcer Tech Mahindra are among the suitors, and local media have said US private equity WL Ross & Co was also among the bidders.
Agencies
The employees were working on a Satyam project for Merrill Lynch, which was taken over by the US bank after it was hit by the subprime crisis last year, it said.
The project was not renewed by Merrill after Satyam was caught in country's biggest corporate scandal and the work of managing its database and providing infrastructure support would now be done in-house, the paper said.
The first of these employees will join Bank of America between April 2 and 8, it said, adding they have been given salary increases of around 10 per cent and joining bonuses.
A spokeswoman for Satyam said, "The report is speculative." An official at Bank of America-Merrill Lynch in India said she could not immediately comment.
Satyam, whose market value has slid to $505.6 million from $7 billion last May, is in the midst of a bidding process to find a new buyer. It plunged into a crisis in January after its founder quit as chairman revealing profits had been falsified for years.
Engineering conglomerate Larsen & Toubro and mid-sized outsourcer Tech Mahindra are among the suitors, and local media have said US private equity WL Ross & Co was also among the bidders.
Agencies
Wednesday, April 1, 2009
Global IT spending to drop by 3.8% in 2009, says Gatner
The ongoing global slowdown will force companies worldwide to reduce their IT expenditure to USD 3.2 trillion this year against $ 3.4 trn in 2008, according to an IT research company.
"The unprecendented decline of the global economy is impacting the IT industry with worldwide IT spending forecast to total $ 3.4 trn in 2009, a 3.8 per cent decline from 2008 revenue of nearly $ 3.4 trn," IT research and advisory company Gartner said in a report.
Gartner said that all four of the key market sectors of the IT industry-- hardware, software, IT services and telecommunications have been revised downward, with only software spending growth remaining positive.
"Spending in computing hardware
will see a decline of 14.9 per cent with total spending to be around USD 324.3 billion as against $ 3.4 trn in 2008," Gartner said.
The spending in IT services and telecommunications sectors will also fall by 1.7 per cent at USD 796.1 billion and 2.9 per cent at USD 1,891.2 billion, respectively, the report said.
Agencies
"The unprecendented decline of the global economy is impacting the IT industry with worldwide IT spending forecast to total $ 3.4 trn in 2009, a 3.8 per cent decline from 2008 revenue of nearly $ 3.4 trn," IT research and advisory company Gartner said in a report.
Gartner said that all four of the key market sectors of the IT industry-- hardware, software, IT services and telecommunications have been revised downward, with only software spending growth remaining positive.
"Spending in computing hardware
will see a decline of 14.9 per cent with total spending to be around USD 324.3 billion as against $ 3.4 trn in 2008," Gartner said.
The spending in IT services and telecommunications sectors will also fall by 1.7 per cent at USD 796.1 billion and 2.9 per cent at USD 1,891.2 billion, respectively, the report said.
Agencies
New servers for small companies from Microsoft
Microsoft Corp on Wednesday launched a new range of server systems for small companies, (SMBs) scaling down its existing offerings to attack one of the fastest-growing segments of the business computing market.
The world's largest software company is launching into the market for small companies as competitors introduce cheap, open-source alternatives to its relatively costly Windows-based servers, and the use of pirated Windows products proliferates.
Microsoft's new product line, called Windows Server 2008 Foundation, can accommodate up to 15 users and will cost less than $1,000 for the hardware and software combined, the company said.
A server is essentially a powerful computer that provides services to other computers. A doctor's office, for example, might use a server to allow staff to share files, access the same systems or maintain a website.
Analysts reckon the low-end server market for products costing less than $1,000 has grown four times faster than any other price range for comparable single processor servers.
Microsoft's new offering is a stripped down version of its Windows Server
family of products, which tend to be beyond the price range of small businesses.
The computer makers will set the prices for their products, which may vary by country.
Agencies
The world's largest software company is launching into the market for small companies as competitors introduce cheap, open-source alternatives to its relatively costly Windows-based servers, and the use of pirated Windows products proliferates.
Microsoft's new product line, called Windows Server 2008 Foundation, can accommodate up to 15 users and will cost less than $1,000 for the hardware and software combined, the company said.
A server is essentially a powerful computer that provides services to other computers. A doctor's office, for example, might use a server to allow staff to share files, access the same systems or maintain a website.
Analysts reckon the low-end server market for products costing less than $1,000 has grown four times faster than any other price range for comparable single processor servers.
Microsoft's new offering is a stripped down version of its Windows Server
family of products, which tend to be beyond the price range of small businesses.
The computer makers will set the prices for their products, which may vary by country.
Agencies
Tuesday, March 31, 2009
Internet rip-offs causes $265 million loss
Internet-based rip-offs jumped 33 percent last year over the previous year, causing a loss of $265 million to the victims, with the fifth largest number of complaints coming from India, according to a new report.
Americans filed 275,284 reports (92.4 percent), claiming to be ripped off on the Internet, the highest number reported since the Internet Crime Complaint Centre, a partnership of the Federal Bureau of Investigation (FBI) and the National White Collar Crime Centre, began keeping statistics in 2000.
Canada came a distant second with 1.77 percent complaints followed by Britain (0.95 percent), Australia (0.57 percent) and India 0.36 percent.
"This report illustrates that sophisticated computer fraud schemes continue to flourish as financial data migrates to the Internet," said Shawn Henry, the FBI's assistant director of the cyber division.
At $265 million the total dollar loss from such crimes was $26 million more than the price tag in 2007, the Centre said. For individual victims, the average amount lost was $931.
The dollar loss has been on a steady increase since 2004, while the number of cases referred to law enforcement has decreased steadily since that same year.
Henry said the figures show the need for computer users, in businesses and in homes, to be wary and use sound security practices while using the Internet.
The centre said the top three most frequent complaints were about merchandise that wasn't delivered or payment that wasn't received, Internet auction fraud and credit/debit card fraud. Other scams include confidence frauds such as Ponzi schemes, cheque fraud, the Nigerian letter fraud and identity fraud.
One popular identity fraud scam used during 2008 involved sending e-mails crafted to appear as if they had been sent by the FBI. Sometimes the scammers went so far as to say the mailings were from FBI Director Robert Mueller himself, according to the centre.
The e-mails would ask the recipient for personal information, such as a bank account numbers, claiming the FBI wanted the information to look into an impending financial transaction.
One variation of the scheme, according to the centre, was to send an e-mail saying the recipient is entitled to lottery money or an inheritance and the funds can be moved as soon as bank account information is supplied.
The FBI has issued warnings about such scams in the past and Monday's report included a new one: "The FBI does not contact US citizens regarding personal financial matters through unsolicited e-mails."
Agencies
Americans filed 275,284 reports (92.4 percent), claiming to be ripped off on the Internet, the highest number reported since the Internet Crime Complaint Centre, a partnership of the Federal Bureau of Investigation (FBI) and the National White Collar Crime Centre, began keeping statistics in 2000.
Canada came a distant second with 1.77 percent complaints followed by Britain (0.95 percent), Australia (0.57 percent) and India 0.36 percent.
"This report illustrates that sophisticated computer fraud schemes continue to flourish as financial data migrates to the Internet," said Shawn Henry, the FBI's assistant director of the cyber division.
At $265 million the total dollar loss from such crimes was $26 million more than the price tag in 2007, the Centre said. For individual victims, the average amount lost was $931.
The dollar loss has been on a steady increase since 2004, while the number of cases referred to law enforcement has decreased steadily since that same year.
Henry said the figures show the need for computer users, in businesses and in homes, to be wary and use sound security practices while using the Internet.
The centre said the top three most frequent complaints were about merchandise that wasn't delivered or payment that wasn't received, Internet auction fraud and credit/debit card fraud. Other scams include confidence frauds such as Ponzi schemes, cheque fraud, the Nigerian letter fraud and identity fraud.
One popular identity fraud scam used during 2008 involved sending e-mails crafted to appear as if they had been sent by the FBI. Sometimes the scammers went so far as to say the mailings were from FBI Director Robert Mueller himself, according to the centre.
The e-mails would ask the recipient for personal information, such as a bank account numbers, claiming the FBI wanted the information to look into an impending financial transaction.
One variation of the scheme, according to the centre, was to send an e-mail saying the recipient is entitled to lottery money or an inheritance and the funds can be moved as soon as bank account information is supplied.
The FBI has issued warnings about such scams in the past and Monday's report included a new one: "The FBI does not contact US citizens regarding personal financial matters through unsolicited e-mails."
Agencies
Monday, March 30, 2009
From April 1 withdraw cash with no extra charge from any bank across India
Beginning April 1, one can walk into the ATM of any bank and withdraw cash or check the balance, at no extra charge.
This is when the Reserve Bank of India’s guidelines, allowing free access to ATMs, become effective.
It was feared that the move may prompt banks to go slow on ATM expansion, in view of the fee from customers disappearing. But this does not seem to be the case, as most banks plan to continue with their ATM expansion.
This is because, the interchange fee, which is paid between banks, will continue. So, the RBI move could prove to be advantageous for banks with large ATM networks. They could earn more fee income, as more customers access their ATMs. The interchange fee is broadly between Rs 15 and 20 per transaction.
Sanjeev Patel, Head, Direct Banking Channels, HDFC Bank, said the bank, which has about 3,500 ATMs, is not planning to go slow on ATM expansion. “We are a big acquirer. We have a large distribution network and this will benefit us. It is unlikely that my customer will move out. Other banks’ customers will come to us,” he said.
Hemant Kaul, Executive Director, Retail Banking, Axis Bank, said that the beneficiaries of the RBI guidelines would be large banks who have invested money in setting up their own ATMs. The number of ATM transactions per debit card would also register an increase, he added.
Axis Bank, which added close to 400 ATMs this quarter, will have a network of around 3,600 by this fiscal.
For both HDFC Bank and Axis Bank, around 15 per cent of ATM transactions are from customers of other banks.
Banks could see some downward pressure on the network charge, due to the disappearance of the Rs 20 fee charged from customers. But as the interchange fee will continue, a small bank with a smaller ATM network will see more impact.
“Banks that tried to save capital cost by going slow on their ATM expansion would now have to pay for it, as from April 1, customers would not think twice before using another bank’s ATM and their banks would have to pay for it,” said a banking analyst.
Union Bank of India is one of the few banks that already allows its customers to use ATMs of other banks free of cost.
The bank will continue with its own ATM expansion, said M.V. Nair, Chairman and Managing Director.
The bank opened 500 branches and set up 500 ATMs this year. It has set the same target for next year as well.
According to Nair, the decision to expand ATMs will depend on the individual bank. But the RBI move could also give rise to alternative methods of proliferation of ATMs. “I see the distinct possibility of white labelled ATMs, which are present worldwide, catching on in India. The Payment Corporation of India could be the right vehicle to implement this,” he said.
YES Bank also offers its customers free access to ATMs of other banks.
The bank had, in a sense, implemented the RBI move four years ago, when it began operations, as it wanted to increase its retail customer base, said Suresh Sethi, President, Transaction Banking Group.
“We don’t see any change in our core banking operations as our customers already enjoy free ATM use. ATM expansion is critical to improving the visibility of the bank and building its image. Our expansion strategy will be guided by that,” he said.
Source : Business Line
This is when the Reserve Bank of India’s guidelines, allowing free access to ATMs, become effective.
It was feared that the move may prompt banks to go slow on ATM expansion, in view of the fee from customers disappearing. But this does not seem to be the case, as most banks plan to continue with their ATM expansion.
This is because, the interchange fee, which is paid between banks, will continue. So, the RBI move could prove to be advantageous for banks with large ATM networks. They could earn more fee income, as more customers access their ATMs. The interchange fee is broadly between Rs 15 and 20 per transaction.
Sanjeev Patel, Head, Direct Banking Channels, HDFC Bank, said the bank, which has about 3,500 ATMs, is not planning to go slow on ATM expansion. “We are a big acquirer. We have a large distribution network and this will benefit us. It is unlikely that my customer will move out. Other banks’ customers will come to us,” he said.
Hemant Kaul, Executive Director, Retail Banking, Axis Bank, said that the beneficiaries of the RBI guidelines would be large banks who have invested money in setting up their own ATMs. The number of ATM transactions per debit card would also register an increase, he added.
Axis Bank, which added close to 400 ATMs this quarter, will have a network of around 3,600 by this fiscal.
For both HDFC Bank and Axis Bank, around 15 per cent of ATM transactions are from customers of other banks.
Banks could see some downward pressure on the network charge, due to the disappearance of the Rs 20 fee charged from customers. But as the interchange fee will continue, a small bank with a smaller ATM network will see more impact.
“Banks that tried to save capital cost by going slow on their ATM expansion would now have to pay for it, as from April 1, customers would not think twice before using another bank’s ATM and their banks would have to pay for it,” said a banking analyst.
Union Bank of India is one of the few banks that already allows its customers to use ATMs of other banks free of cost.
The bank will continue with its own ATM expansion, said M.V. Nair, Chairman and Managing Director.
The bank opened 500 branches and set up 500 ATMs this year. It has set the same target for next year as well.
According to Nair, the decision to expand ATMs will depend on the individual bank. But the RBI move could also give rise to alternative methods of proliferation of ATMs. “I see the distinct possibility of white labelled ATMs, which are present worldwide, catching on in India. The Payment Corporation of India could be the right vehicle to implement this,” he said.
YES Bank also offers its customers free access to ATMs of other banks.
The bank had, in a sense, implemented the RBI move four years ago, when it began operations, as it wanted to increase its retail customer base, said Suresh Sethi, President, Transaction Banking Group.
“We don’t see any change in our core banking operations as our customers already enjoy free ATM use. ATM expansion is critical to improving the visibility of the bank and building its image. Our expansion strategy will be guided by that,” he said.
Source : Business Line
Is Symphony eyeing more R&D acquisitions in India?
Symphony Services, a provider of outsourced product development, which recently acquired four captive R&D centres in India, expects the trend of captive acquisition to gain further momentum.
Symphony's four captive R&D centres are In-Reality, Intransa, CT Space and Cambridge Tech Partners in India.
Over the last decade, more than 700 product companies have embraced the offshore model and established captives in India, China, Eastern Europe and other lower cost, high talent regions.
Talking to CXOtoday, Ajay Kela, chief operating officer and managing director, Symphony Services, said, "Symphony's four acquisitions in the recent past are software companies with captive operations in India. We are currently in discussion with some of the subscale captives for acquisition and helping them turnaround, but cannot disclose the actual number."
Now with the recession sinking deeper, most parent companies are increasingly conserving cash and tend to avoid additional infrastructure expenses in a captive centre, thus giving opportunities for companies to acquire.
According to a report by Forrester, titled "Shattering the Offshore Captive Center Myth", about 60% of captives are struggling as they fail to meet expectations. There are several common reasons for failure: a poor delivery track record, operational problems, lack of scale, poor morale and high attrition, and escalating costs.
The challenges that captives are facing is resulting in a significant decrease in the number of new captives that are being introduced. According to Management Consulting company Zinnov, the number of new captives started in India over the last few years has declined from 76 to 15. Also, service providers are expected to outpace the growth of captives by more than 300% over the next four years.
Symphony acquisitions have been of different types - from outright purchase or acquisition of a captive to captive transfer where the deals did not have significant monetary implications, but captive transfers of its employees and operations to be run by Symphony.
In a 'captive transfer' employees of the captive entity become Symphonians and both the management teams collaborate to manage the operations and ensure product research and development for the parent company, Kela said.
"Over the last few years, there has been a trend of many subscale captives (manpower of less than 500 people) exploring alternative strategies like transferring their captive operations to services providers for managing their global product engineering operations because it no longer makes economic sense for them to run their own captive centre," said Kela.
Also, most software companies cannot afford to dramatically increase R&D expenditures by moving resources back onshore. Hence transferring their captive to a provider is a viable option for software companies and continues to leverage from the offshoring model, he said.
CXOtoday
Symphony's four captive R&D centres are In-Reality, Intransa, CT Space and Cambridge Tech Partners in India.
Over the last decade, more than 700 product companies have embraced the offshore model and established captives in India, China, Eastern Europe and other lower cost, high talent regions.
Talking to CXOtoday, Ajay Kela, chief operating officer and managing director, Symphony Services, said, "Symphony's four acquisitions in the recent past are software companies with captive operations in India. We are currently in discussion with some of the subscale captives for acquisition and helping them turnaround, but cannot disclose the actual number."
Now with the recession sinking deeper, most parent companies are increasingly conserving cash and tend to avoid additional infrastructure expenses in a captive centre, thus giving opportunities for companies to acquire.
According to a report by Forrester, titled "Shattering the Offshore Captive Center Myth", about 60% of captives are struggling as they fail to meet expectations. There are several common reasons for failure: a poor delivery track record, operational problems, lack of scale, poor morale and high attrition, and escalating costs.
The challenges that captives are facing is resulting in a significant decrease in the number of new captives that are being introduced. According to Management Consulting company Zinnov, the number of new captives started in India over the last few years has declined from 76 to 15. Also, service providers are expected to outpace the growth of captives by more than 300% over the next four years.
Symphony acquisitions have been of different types - from outright purchase or acquisition of a captive to captive transfer where the deals did not have significant monetary implications, but captive transfers of its employees and operations to be run by Symphony.
In a 'captive transfer' employees of the captive entity become Symphonians and both the management teams collaborate to manage the operations and ensure product research and development for the parent company, Kela said.
"Over the last few years, there has been a trend of many subscale captives (manpower of less than 500 people) exploring alternative strategies like transferring their captive operations to services providers for managing their global product engineering operations because it no longer makes economic sense for them to run their own captive centre," said Kela.
Also, most software companies cannot afford to dramatically increase R&D expenditures by moving resources back onshore. Hence transferring their captive to a provider is a viable option for software companies and continues to leverage from the offshoring model, he said.
CXOtoday
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