Top 10 business news today: Rs 251 Freedom 251 smartphone to start deliveries, Satya Nadella e-mail, Intex launches VR headset ‘Eyelet’, more
Ringing Bells claims to deliver Freedom 251, the Rs 251 smartphone, touted to be the world’s cheapest, from June 28: Ringing Bells, a little-known company that ran into controversy after announcing a Rs 251 ‘smartphone’, claimed it will start deliveries of the handset to customers from June 28. Deliveries will start to customers who have registered for buying the phone, Noida-based company’s Director Mohit Goel said.
Ringing Bells claims to deliver Freedom 251, the Rs 251 smartphone, touted to be the world's cheapest, from June 28: Ringing Bells, a little-known company that ran into controversy after announcing a Rs 251 'smartphone', claimed it will start deliveries of the handset to customers from June 28. Deliveries will start to customers who have registered for buying the phone, Noida-based company's Director Mohit Goel said. "We will start shipment of Freedom 251 from June 28 to customers who paid for it earlier on COD (cash-on-delivery) basis," he said. Ringing Bells began selling the handset, Freedom251, via its website in February. But the launch of the smartphone swirled into controversy, with some calling it a ponzi scheme. (Photo Source: Website)
LinkedIn buy biggest acquisition since I became CEO, says Microsoft CEO Satya Nadella: Nadella said new opportunities for monetisation will be created once integration with LinkedIn, its largest acquisition till date, is completed. The $26.2-billion deal, which is the largest in the history of the Redmond-based firm, will help "reinvent productivity and business processes", Nadella said in an e-mail to employees. "Given this is the biggest acquisition for Microsoft since I became CEO, I wanted to share with you how I think about acquisitions overall. To start, I consider if an asset will expand our opportunity – specifically, does it expand our total addressable market?" he wrote in the e-mail to employees. "Is this asset riding secular usage and technology trends? And does this asset align with our core business and overall sense of purpose? The answer to all of those questions with LinkedIn is squarely yes." (Photo Source: Reuters)
Where is my budget, Harish Rawat asks PM Narendra Modi: Calling himself a deeply concerned Chief Minister of a state which has suffered due to prolonged political uncertainty, Harish Rawat today sought Centre's cooperation in development and demanded clearance to the Uttarakhand budget passed by the state Assembly before his government was dismissed. "Modiji meru budget kakh gaye? (where is my budget Mr Modi?)" He asked Prime Minister Narendra Modi in Garhwali. He said if the issue is not resolved he would take it to the people's court, indicating the question to the Prime Minister could become the party's campaign punch line for the state Assembly elections due early next year. (Photo Source: PTI)
Intex launches virtual reality headset 'Eyelet': Intex announced its foray into the virtual reality (VR) space with the launch of its VR headset 'Eyelet'. While the standalone pricing was not disclosed, Eyelet will come bundled with 4G-enabled Aqua View smartphone for Rs 8,999. "Intex Eyelet is a certified Works with Google Cardboard (WWGC) device, making Intex the first brand in India to launch a Google-certified Cardboard viewer," Intex said in a statement. Aqua View features a 5-inch display, 2GB RAM, 16GB memory (expandable upto 32GB), 8MP rear and 5MP front camera and 2,200 mAh battery. (Photo Source: PTI)
PIO girl youngest attendee at Apple Inc's developer conference A nine-year-old Indian-origin girl has earned the distinction of being the youngest app developer at Apple's annual developer conference with her apps for children and she now dreams of meeting the tech giant's CEO Tim Cook. Anvitha Vijay from Australia is the youngest attendee at WWDC 2016 in San Francisco and has already built several apps for iPhone and iPad, a report in Fortune said. Vijay spent a year watching free coding tutorials on YouTube and the web, and learned how to program. "Coding was so challenging. But I'm so glad I stuck with it," she said. (Photo Courtesy: Business Review Twitter)
However, this marketing strategy is not really unique to India, something very similar was attempted by Chinese mobile technology startup OnePlus. In June 2016, it partnered with online taxi aggregator Uber, a rival of Ola in India, to send free OnePlus Loop VR headset to customers' doorsteps within minutes of making a booking on the Uber app in order to enable people to experience the VR-launch of its new flagship phone – the OnePlus 3. (Text by Mohd Ujaley)
Brexit campaigners seize on Orlando massacre: A group campaigning for Britain to leave the EU briefly posted a tweet today warning that EU membership could lead to an "Orlando-style atrocity", prompting outrage from "Remain" supporters. "Islamist extremism is a real threat to our way of life. Act now before we see an Orlando-style atrocity here before too long," read the slogan on a picture featuring what appeared to be Islamic State fighters. The tweet on the @LeaveEUOfficial account said: "The free movement of Kalashnikovs in Europe helps terrorists. Vote for greater security on June 23. Vote Leave". The tweet was taken down around an hour later. (Photo Source: Reuters)
DTC suffered loss of over Rs 5,000 cr during 2010-15, says CAG: Delhi Transport Corporation suffered a loss of Rs 5,022 crore on operations during 2010-15 and could not procure a single bus despite availability of funds even as breakdown of the existing ones increased, the CAG has observed in a performance audit report of the transport body. The CAG has indicted DTC for favouring cluster buses "in excess" of the agreed share, thus "adversely" impacting the revenue earning potential of the corporation and its financial interest. "The corporation was operating 574 out of 791 routes as on March 31, 2015…not even one of these routes was profitable and many of them were not recovering even the variable cost…As a result the corporation suffered a loss of Rs 5,022.05 crore on operations during 2010-15," the report said.
Southwest monsoon making slow progress, says IMD: The progress of southwest monsoon is relatively slow as it is not getting a favourable system to move forward, but days of heat wave condition in central and northwest India will soon be over as pre-monsoon showers will bring moisture in the air, Met department said today. The Southwest monsoon has now reached Karwar and Gadag in Karnataka and Ongole in Andhra Pradesh, but its progress is relatively slow, India Meteorological Department (IMD) Director General Laxman Singh Rathore said. "The progress of monsoon is slow as it is still not getting a favourable system that can give it a boost to move forward," Rathore said, adding that this is a normal phenomenon. (Photo Source: PTI)