MAM
Smartphone industry to clock more than 50% revenue in festive quarter, led by 5G handsets: Report
Mumbai: With the ongoing festive season, the sales of smartphones have significantly jumped, with more and more discounts available on e-commerce platforms. The smartphone industry in India is expected to earn more than half of its sales during the festive quarter, with approximately 49.9 million sets worth Rs 1,252 billion projected to be sold during the October-December 2021 quarter, according to a combined analysis by Techarc & mScanlt tech. The quarter’s sales contribution by revenue and volume is estimated to be 56 per cent and 32 per cent, respectively, as per insights revealed by the ‘Smartphone Festive Season Insights’ study.
The e-commerce platforms have become a trusted source for customers to acquire gadgets, and online sales are increasing in the mid and premium categories this season. The revenue contributions will be led by premium range (Rs 25,000-50,000) of mobiles contributing 51.7 per cent of the total revenues during the festive quarter, while mid-segment (Rs 12,000-25,000) will drive the contributions by volume sales with 42.1 per cent smartphones selling in this segment, reveals the analysis. This is a departure from past years when the basic segment drove most of the online sales.
“Bringing up the unique insights, the upsurge in the sale of smartphones reflects the growing Indian economy in the post-pandemic era,” said mFilterIt co-founder & director Amit Relan. “Smartphones worth Rs 1252 billion are projected to be sold online in this quarter and this is an improvement from what the scenario was last year. mScanIt delivers unique proposition, helping online brands to get a holistic view of the online channels, be it marketplaces, or individual sites.”
According to multiple surveys, consumer purchasing habits in India have significantly improved and increased after the pandemic. The study by the new age technology market research firm, techarc is unique to the industry with mScanIt tech incorporated into this analysis. mScanIt, powered by mFilterIt is a state-of-the-art digital platform that provides an in-depth and focused understanding and insights into what happens online.
“With the talks around 5G network launching in India, the consumer buying preferences have considerably shifted to the 5G smartphones lately,” said Techarc founder Faisal Kawoosa. “Currently, Amazon and Flipkart, the two largest online marketplaces, both offer more than 50 5G smartphone models and Samsung remains at the top followed by Realme and Xiaomi, with the maximum number of 5G smartphones in all the price segments.”
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
