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Pinterest files for IPO

FILE PHOTO: A Pinterest banner hangs on the facade of the NYSE in New York
FILE PHOTO: A Pinterest banner hangs on the facade of the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2017. REUTERS/Brendan McDermid

March 22, 2019

(Reuters) – Pinterest Inc, the owner of the image search website known for the food and fashion photos that its users post, filed for an initial public offering with U.S. regulators on Friday, looking to tap into a red-hot market for new issues.

The company, which plans to list under the symbol “PINS” on the New York Stock Exchange, set a placeholder amount of $100 million to indicate the size of the IPO. The final size could be different.

The filing comes a day after jeans maker Levi Strauss & Co’s blockbuster debut, and ahead of ride-hailing service providers Lyft Inc and Uber’s much-awaited listings.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Sriraj Kalluvila)

Source: OANN

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NBA roundup: Grizzlies top Rockets in OT despite Harden’s 57

NBA: Houston Rockets at Memphis Grizzlies
Mar 20, 2019; Memphis, TN, USA; Memphis Grizzlies center Jonas Valanciunas (17) defends against Houston Rockets center Clint Cappella (15) at FedExForum. Mandatory Credit: Nelson Chenault-USA TODAY Sports

March 21, 2019

Jonas Valanciunas’ offensive rebound and free throw with 0.1 second left in overtime helped the host Memphis Grizzlies topple the Houston Rockets 126-125 on Wednesday.

Valanciunas paired a career-high 33 points with 15 rebounds and teamed with Mike Conley (35 points, eight assists) to help Memphis fend off James Harden and the rallying Rockets. Valanciunas corralled a miss by Conley before absorbing a foul from Houston center Clint Capela on the game’s deciding play.

That followed an MVP-caliber stretch from Harden, who scored 18 of his game-high 57 points in the fourth quarter before adding eight points during a 28-second stretch in overtime.

Memphis averted a four-game season series sweep against Houston, which lost for just the third time since the All-Star break. Former Rockets forward Chandler Parsons drilled two 3-pointers in overtime to keep the Grizzlies in control despite Harden’s efforts.

76ers 118, Celtics 115

Joel Embiid collected 37 points and a career-high 22 rebounds to go along with a late key block on Kyrie Irving as host Philadelphia averted a season sweep by Boston.

Jimmy Butler scored 15 of his 22 points in the fourth quarter for the 76ers, who have won six in a row overall. Irving scored 16 of his 36 points in the first quarter for the Celtics, who fell short against Philadelphia for just the third time in the teams’ past 20 regular-season meetings.

Al Horford scored 22 points and Terry Rozier added 20 points off the bench for Boston, which saw guard Marcus Smart receive a flagrant-2 foul and an immediate ejection less than a minute into the third quarter following a two-handed shove into the back of Embiid.

Raptors 123, Thunder 114 (OT)

Pascal Siakam scored 33 points and grabbed 13 rebounds to lead Toronto to an overtime win at Oklahoma City.

The Raptors dominated the extra session, outscoring the Thunder 13-4 after letting a 19-point, second-half lead slip away. Oklahoma City didn’t score in the extra period until 31.5 seconds remained. Kawhi Leonard scored five of his 22 points in overtime, and Fred VanVleet finished with 23 points for the Raptors.

Russell Westbrook, returning from a one-game suspension and coming off a 2-for-16 shooting performance Saturday in a loss to the Golden State Warriors, helped lift the Thunder with 42 points and 16-of-29 shooting, including 5-of-10 accuracy from behind the 3-point arc.

Cavaliers 107, Bucks 102

Collin Sexton scored 25 points, and Jordan Clarkson added 23 off the bench to lead host Cleveland over short-handed Milwaukee.

Coming into the game, Sexton had been the first rookie to score at least 23 points in six consecutive games since Tim Duncan did it twice for the San Antonio Spurs in 1998. Sexton now has accomplished the feat in seven straight games.

Milwaukee dressed only nine players and was without Giannis Antetokounmpo and Nikola Mirotic. Antetokounmpo missed his second straight game with an ankle injury. The Bucks announced Wednesday that Mirotic will be out two to four weeks with a thumb injury. Khris Middleton led Milwaukee with 26 points.

Heat 110, Spurs 105

Goran Dragic scored 22 points off the bench, and Dwyane Wade had a big basket and a steal in the final minutes as visiting Miami outlasted San Antonio to snap Spurs’ nine-game winning streak.

After trailing by as many as 18 in the third quarter and by 13 with 9:50 to play, San Antonio charged back, pulling within 106-103 with 2:05 left. With Miami on top 108-105, Wade stole the ball from DeRozan with 9.1 seconds left. Kelly Olynyk then converted a pair of free throws to cement the win for the Heat.

Dion Waiters scored 18 points for the Heat, who hold a 1 1/2-game lead on the Orlando Magic for the Eastern Conference’s final playoff spot. Patty Mills, Marco Belinelli and Aldridge scored 17 points each for the Spurs.

Magic 119, Pelicans 96

Orlando led from start to finish, pounding visiting New Orleans for its third consecutive win.

Evan Fournier scored 22 points for the Magic, and Aaron Gordon had 20. Nikola Vucevic contributed 15 points and 17 rebounds.

Frank Jackson was the only Pelicans starter to score in double figures, netting 14 points. Reserve Stanley Johnson scored a team-high 18 points off the bench. Pelicans star forward Anthony Davis did not play due to a family matter.

Bulls 126, Wizards 120 (OT)

Kris Dunn atoned for a late miss in regulation with a pair of 3-pointers in overtime, and Lauri Markkanen added a back-breaking trey with 32.3 seconds remaining to send Chicago to victory over visiting Washington.

The loss assured the Wizards (30-42) of a losing season and cost them a key game in their desperate quest to move up from 11th place in the Eastern Conference standings.

Markkanen, the game’s leading scorer with 32 points, also collected a game-high 13 rebounds. Dunn had 26 points and 13 assists for the Bulls, who won their second straight after a five-game losing streak. Jabari Parker scored 28 points for the Wizards against his former team.

Trail Blazers 126, Mavericks 118

Damian Lillard scored 33 points and handed out 12 assists as Portland knocked off visiting Dallas.

Six players scored in double figures for the Trail Blazers, including Seth Curry with 20 off the bench. It was the fifth win in six games for Portland.

Luka Doncic scored 24 points and Justin Jackson contributed 21 for the Mavericks, who have lost 14 of their past 16 outings.

Jazz 137, Knicks 116

Donovan Mitchell scored 30 points in three quarters and Utah easily ran its winning streak to five games by rolling over host New York.

Mitchell helped the Jazz get their latest win by shooting 12 of 20 and hitting five 3-pointers. Utah matched a team record by hitting 20 3-pointers.

Rookie Kevin Knox scored 27 points for the Knicks, who lost for the 10th time in 11 games. Mario Hezonja added 23 points for New York, which was without Dennis Smith Jr. (sore back), Allonzo Trier (strained left calf) and Noah Vonleh (ankle).

–Field Level Media

Source: OANN

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Iran warns of firm response if Israel acts against its oil shipments

FILE PHOTO: FILE PHOTO: Iran's national flags are seen on a square in Tehran
FILE PHOTO: Iran's national flags are seen on a square in Tehran February 10, 2012, a day before the anniversary of the Islamic Revolution. REUTERS/Morteza Nikoubaz/File Photo

March 13, 2019

LONDON (Reuters) – Iran will respond firmly to any Israeli naval action against its oil shipments, Iran’s defense minister said on Wednesday, in comments that came a week after Israel’s prime minister said its navy could act against Iranian oil “smuggling” to evade U.S. sanctions.

U.S. President Donald Trump last year quit a nuclear deal with Iran and reimposed some sanctions, aiming to cut Tehran’s oil exports to zero. Israel’s Prime Minister Benjamin Netanyahu told naval officers last week that Iran was still resorting to clandestine measures to ship fuel.

Iran’s Minister of Defense Amir Hatami was quoted as saying by the state news agency IRNA that Tehran had the military capabilities to confront any Israeli intervention, and said the international community would also not accept such action.

Hatami said such confrontation would be considered as “piracy” and warned that “if it happens, we will firmly respond.”

“The Iranian armed forces have certainly the capabilities to protect the country’s shipping lines in the best way against any possible threat,” Hatami said.

According to maritime experts, Iran has used a variety of measures to evade sanctions, including changing the names of ships or flag registries, switching off location transponders on ships and conducting ship-to-ship transfers offshore and away from large trade hubs.

Iran’s navy has extended its reach in recent years, dispatching vessels to the Indian Ocean and the Gulf of Aden. They intervened on Friday to repel pirates who attacked an Iranian oil tanker in the Gulf of Aden.

The Israeli navy, whose largest vessels are missile corvettes and a small submarine fleet, is mostly active in the Mediterranean and Red seas.

Iran has one of the world’s biggest tanker fleets in the world.

In November, U.S. Special Representative for Iran Brian Hook called Iranian vessels a “floating liability”, saying the U.S. sanctions would bar them from international insurance markets, making them a risk for ports and canals which allow them access.

Iranian officials have threatened to block the Strait of Hormuz, a major oil shipping route in the Gulf, if the United States attempts to stop the Islamic Republic’s oil exports.

(Reporting by Bozorgmehr Sharafedin; Editing by Michael Perry and Simon Cameron-Moore)

Source: OANN

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Soybean exports help to shrink U.S. trade deficit in January

A trailer is filled with soybeans at a farm in Buda, Illinois
FILE PHOTO: A trailer is filled with soybeans at a farm in Buda, Illinois, U.S., July 6, 2018. REUTERS/Daniel Acker

March 27, 2019

By Lucia Mutikani

WASHINGTON (Reuters) – The U.S. trade deficit narrowed by the most in 10 months in January likely as China boosted purchases of soybeans, leading to a rebound in exports after three straight monthly declines.

The better-than-expected improvement in the trade deficit reported by the Commerce Department on Wednesday offered some good news for the economy after a raft of weak data, including retail sales, manufacturing and homebuilding, left economists anticipating a sharp slowdown in growth in the first quarter.

Still, the trade deficit remains large despite President Donald Trump’s “America First” policies to significantly shrink it. The White House’s protectionist trade tariffs have left the United States mired in a bruising trade war with China and provoked retaliatory tariffs from other trading partners.

The Commerce Department said the trade deficit declined 14.6 percent, the largest drop since March 2018, to $51.1 billion also as increased domestic oil production and lower crude prices curbed the import bill.

Data for December was revised slightly down to show the trade gap widening to $59.9 billion instead of the previously reported $59.8 billion. Economists polled by Reuters had forecast the trade gap narrowing to $57.0 billion in January.

Washington last year imposed tariffs on $250 billion worth of goods imported from China, with Beijing hitting back with duties on $110 billion worth of American products, including soybeans and other commodities.

Trump has delayed tariffs on $200 billion worth of Chinese imports as negotiations to resolve the eight-month trade war continue, with Beijing pledging to resume bulk purchases of soybeans after cancellations at the height of the trade fight.

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are in China this week for another round of talks with Chinese Vice Premier Liu He.

The politically sensitive trade deficit with China fell 6.4 percent to $34.5 billion in January.

U.S. financial markets were little moved by the trade data.

LOW GDP ESTIMATES

When adjusted for inflation, the goods trade deficit decreased $7.8 billion to $83.8 billion in January. The drop in the so-called real goods trade deficit could see economists bump up their very low first-quarter gross domestic product growth estimates.

The Atlanta Federal Reserve is forecasting GDP rising at a 1.3 percent annualized rate in the January-March quarter. The government reported last month that the economy grew at a 2.6 percent pace in the fourth quarter.

But that estimate is likely to be lowered when the government publishes a revision on Thursday as some economic data for December was weaker than had been previously assumed.

The trade deficit in January was pushed down by a 0.9 percent increase in exports to $207.3 billion. Soybean exports rose by $0.9 billion in January. Exports of motor vehicles and parts increased by $1.2 billion.

Export growth, however, continues to be constrained by slowing global demand and the dollar’s strength last year, which is making U.S.-made goods less competitive on foreign markets.

In January, exports of capital goods decreased by $0.8 billion, led by a $1.3 billion decline in civilian aircraft shipments. Despite the rise in soybean shipments, exports to China were the smallest since September 2010.

Imports fell 2.6 percent to $258.5 billion in January, the lowest level since last June. Imports previously had surged, likely as businesses stocked up in anticipation of further duties on Chinese imports.

Capital goods imports dropped by $3.0 billion in January, led by a $0.9 billion decline in imports of computer accessories. There were also decreases in imports of semiconductors and civilian aircraft.

The weakness in capital goods imports likely suggests a slowdown in business spending on equipment. A drop in imports normally suggests cooling domestic demand. There were, however, increases in imports of consumer goods, as well as motor vehicles and parts in January.

Crude oil imports dropped by $1.4 billion, reflecting both lower volumes and prices. Imported oil prices averaged $42.59 per barrel in January, the cheapest since December 2016.

Graphic: U.S. trade balance DataStream Chart – http://tmsnrt.rs/2eiMEKv

Graphic: Trade interactive – http://tmsnrt.rs/2fuSPiB

(Reporting By Lucia Mutikani; Editing by Andrea Ricci)

Source: OANN

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Kim Jong Un named to head state panel; new premier selected

North Korean leader Kim Jong Un was elected chairman of the State Affairs Commission, and a new premier was chosen by the government's parliament, the Korean Central News Agency reports.

The agency says the First Session of the 14th Supreme People's Assembly chose Kim Jong Un for the post because of "his outstanding ideological and theoretical wisdom and experienced and seasoned leadership."

The agency reports that Kim Jae Ryong was chosen as premier of the cabinet. He replaces Pak Pong Ju.

The North Korea Watch website says Kim Jae Ryong has been a longtime ruling party leader and has "held guidance officer and political management positions at industrial sites."

Pak Pong Ju had served two separate terms as premier, from 2003 to 2007 and from 2013 to 2019, according to North Korea Watch.

Source: Fox News World

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Report: Witness says gate blocked when lion killed intern

A witness told authorities a gate blocked by a ball at a North Carolina animal preserve allowed a lion to reach three people cleaning an enclosure and begin a fatal attack, biting one intern's ankle and pulling her into the enclosure, according to a medical examiner's report.

Lt. Eugene Riddick of the Caswell County Sheriff's Department advised that animal trainer Ashley Watts reported separating the 14-year-old lion named Matthai into a section of an enclosure at the Conservators Center in Burlington on Dec. 30, according to the report first reported on by WRAL-TV. But Watts said the gate that secures that section was blocked by a large ball and the lion entered the area that Watts, 22-year-old intern Alex Black and a second intern were cleaning and attacked Black, the report states. Watts tried to separate them, but before she could close the gate, Matthai bit Black's ankle and pulled her into the enclosure.

Riddick advised that fire department personnel used a firehose to separate the lion and Black without success, according to the report. The lion dragged Black around the enclosure by her neck "for an extended amount of time." After attempts to sedate the lion with darts failed, deputies shot the lion eight times, killing the animal and ensuring Black's body could be safely recovered, the report said.

The initial assessment showed Black died from multiple deep lacerations to the neck with significant blood loss, according to the report. It lists the probable cause of death as "Mauling by Animal."

In a statement provided to WFMY-TV, the center disputes reports that the gate was obstructed by a ball, saying that is "neither accurate nor plausible." However, the center does not explain how the lion was able to reach the three.

The attack occurred less than two weeks after Black, a recent college graduate from New Palestine, Indiana, had begun working at the nonprofit wildlife facility. The center, described recently as a "community zoo" by its executive director, was founded in 1999.

USDA inspections in 2017 and 2018 found no problems at the center, according to government reports. A government inspector counted 16 lions among 85 total animals in 2018.

The center stresses in its statement that as an intern, Black wasn't responsible for the accident and that "all credible evidence" indicates that she was "killed almost instantly" and first responders were "conducting a recovery not a rescue." The center reviewed safety policies and procedures and re-trained staff, and said it's confident that, when followed, those existing policies and procedures are sufficient.

Lt. Darrell McLean, a spokesman for the Caswell County Sheriff's Office, declined comment Wednesday.

___

Information from: WRAL-TV, http://www.wral.com

Source: Fox News National

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Argentina’s embattled economy shrank 2.5 percent in 2018

FILE PHOTO: Employees work at industrial manufacturing company Gottert in Garin
FILE PHOTO: Employees work at industrial manufacturing company Gottert in Garin, on the outskirts of Buenos Aires, Argentina November 1, 2018. REUTERS/Marcos Brindicci

March 21, 2019

BUENOS AIRES (Reuters) – Argentina’s economy contracted 2.5 percent in 2018, the country’s statistics agency said on Thursday, as the Latin American nation struggles to revive growth after being rattled by a currency crisis and steep inflation over the past year.

The economy also shrank 6.2 percent in the fourth quarter of the year, in line with analyst forecasts, but still the weakest quarterly performance since 2009. That followed a 3.5 percent dip in the quarter before.

President Mauricio Macri said last year that the country had been battered by “endless storms” in 2018, which pulled the country into recession and saw the local peso currency lose around half its value against the dollar.

(Reporting by Jorge Iorio and Walter Bianchi; Writing by Adam Jourdan; Editing by Chizu Nomiyama)

Source: OANN

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A California man who allegedly fatally shot his ex-girlfriend in broad daylight last month before fleeing the country has been returned to the U.S. following his arrest in Mexico on Wednesday, authorities said.

Julio Cesar Rocha, 25, of Montlcair, is accused of shooting his 25-year-old ex-girlfriend Thalia Flores and a second unidentified male victim March 21 around 2:45 p.m. while the two were sitting in a vehicle in the parking lot of a discount store in Chino. Both communities are about 36 miles east of Los Angeles.

ARREST MADE IN DOUBLE HOMICIDE OF EX-PRO HOCKEY PLAYER, COMMUNITY ADVOCATE, POLICE SAY

Julio Cesar Rocha, 25, of Montlcair, Calif. was located in Mexico Wednesday and returned to California where he faces murder and attempted murder charges related to the death of his ex-girlfriend, Thalia Flores.

Julio Cesar Rocha, 25, of Montlcair, Calif. was located in Mexico Wednesday and returned to California where he faces murder and attempted murder charges related to the death of his ex-girlfriend, Thalia Flores. (City of Chino Police Department)

Flores died at the scene. The man, whose name was not released, walked to a nearby hospital where he’s recovering from his gunshot wounds.

Rocha allegedly fled the scene and remained at large for more than a month, the Daily Bulletin reported. He was formally arrested at 4:30 p.m. after arriving at Los Angeles International Airport from Mexico, KTLA-TV reported.

The suspect was booked at the West Valley Detention Center in Rancho Cucamonga on murder and attempted murder charges, the City of Chino Police Department said on Facebook.

Flores ended her seven-year relationship with Rocha just two months before her death and still lived in fear of him until that point, a sister of the victim, Bernice Flores, told the Daily Bulletin.

“He said himself so many times to other people, ‘If I can’t have her, no one will.’ ” Flores said, adding that her sister stayed in the relationship longer that she would have liked in fear that Rocha would hurt her or her family if they broke up.

Rocha was convicted on misdemeanor battery in 2016 and sentenced to 60 days in prison. He was originally charged with misdemeanor assault with a deadly weapon, but the charges were lowered in a plea deal, the Daily Bulletin reported.

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Rocha was convicted of misdemeanor resisting or obstructing a peace officer in 2014. A second charge of misdemeanor battery was dropped in a plea deal, and Rocha was ordered to complete a 26-week anger management course, according to San Bernardino County Superior Court records. Rocha was later arrested and sentenced to 10 days behind bars for failing to complete the course.

Source: Fox News National

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Multiple people died Thursday when a semitrailer plowed into stationary traffic that resulted in explosions and flames on a Colorado freeway, authorities said.

The incident occurred just before 5 p.m. in the Denver suburb of Lakewood when a truck driver lost control while traveling east on Interstate 70, according to a preliminary investigation. The collision started a chain reaction and a diesel fuel spill, Lakewood police spokesman Ty Countryman told the Denver Post.

“This is looking to be one of the worst accidents we’ve had here in Lakewood,” he said.

The driver of the runaway truck survived. At least one truck was carrying lumber, another was hauling gravel and the third may have been carrying mattresses, KDVR-TV reported.

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Lakewood police tweeted there were multiple fatalities but did not give a specific number. Six people were taken to a hospital. Their conditions were not released, according to the paper.

Lanes in both directions were closed and expected to remain so into Friday morning.

Source: Fox News National

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President Trump will address members and leaders of the National Rifle Association on Friday at the group’s annual convention in Indiana.

Around 80,000 gun enthusiasts and more than 800 exhibitors are expected to pack the Indiana Convention Center in Indianapolis for the three-day event, the Indianapolis Star reported. It will mark the third straight year that Trump will deliver the keynote address, where he is expected to champion the rights of gun owners.

“Donald Trump is the most enthusiastic supporter of the Second Amendment to occupy the Oval Office in our lifetimes,” Chris Cox, executive director of the NRA’s Institute for Legislative Action (ILA), said in a statement. “President Trump’s Supreme Court appointments ensure that the Second Amendment will be respected for generations to come. Our members are excited to hear him speak and thank him for his support for our Right to Keep and Bear Arms.”

“Donald Trump is the most enthusiastic supporter of the Second Amendment to occupy the Oval Office in our lifetimes.”

— Chris Cox, executive director, NRA’s Institute for Legislative Action

COLORADO ENACTS ‘RED FLAG’ LAW TO SEIZE GUNS FROM THOSE DEEMED DANGEROUS, PROMPTING BACKLASH

President Donald Trump speaks at the National Rifle Association annual convention in Dallas last year. (Associated Press)

President Donald Trump speaks at the National Rifle Association annual convention in Dallas last year. (Associated Press)

Trump and Vice President Mike Pence spoke at last year’s convention in Dallas. During his speech, Trump assured gun owners that he would protect their Second Amendment rights, according to the paper.

“Your Second Amendment rights are under siege,” Trump told the cheering audience in Dallas. “But they will never, ever be under siege as long as I am your president.”

Trump has supported some gun control measures in the past. Last year, his administration imposed a ban on bump stocks, attachments that enable semiautomatic rifles to fire in rapid bursts. Although, he most recently threatened to veto two Democratic gun control bills.

This year’s convention comes as the NRA faces outside pressure and internal problems. The group has seen its legislative agenda stall amid a series of mass shootings — including a massacre at a Parkland, Fla., high school in February 2018 that left 17 dead and launched a youth movement against gun violence.

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It’s also grappling with infighting in its ranks, money problems and investigations into whether Russian agents courted officials and funneled money through the group.

“I’ve never seen the NRA this vulnerable,” said John Feinblatt, president of Everytown for Gun Safety, a nonprofit that advocates for gun control measure.

The convention will run through the weekend and conclude Sunday.

The Associated Press contributed to this report.

Source: Fox News Politics

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FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London
FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London, Britain December 15, 2018. REUTERS/Simon Dawson

April 26, 2019

(Reuters) – Ailing British retailer Debenhams said two proposed company voluntary arrangements (CVA) could see all its stores remaining open during 2019, with 22 closures planned for next year, putting about 1,200 jobs at risk.

Debenhams’ lenders took control of the retailer earlier this month in a process designed to keep its shops open at the expense of shareholders.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Gopakumar Warrier)

Source: OANN

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FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London
FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London, Britain, November 8, 2018. REUTERS/Toby Melville

April 26, 2019

BENGALURU (Reuters) – Chinese brands controlled a record 66 percent of Indian smartphone market in the first quarter, led by Xiaomi Corp, a report showed, with volumes rising 20 percent on the back of popularity for brands like Vivo, RealMe and Oppo.

Xiaomi’s India shipments fell by 2 percent over last year, but the Beijing-based company was still the biggest smartphone brand in the country, followed by Samsung Electronics Co Ltd, according to Hong-Kong based Counterpoint Research.

Shipment volumes for Vivo jumped 119 percent, while those of Oppo rose 28 percent.

“Vivo’s expanding portfolio in the mid-tier range ($100 to $180) drove its growth along with aggressive Indian Premier League cricket campaign,” Counterpoint analysts said.

India is the world’s fastest growing market for smartphones, where affordable pricing coupled with features like “selfie” cameras and big screens have popularized Chinese brands.

Video streaming services like Netflix Inc and Hotstar, as well as heavy usage of messaging apps like Facebook Inc’s WhatsApp have further spurred demand.

“Data consumption is on the rise and users are upgrading their phones faster as compared to other regions,” Counterpoint’s Tarun Pathak said.

“As a result of this, the premium specs are now diffusing faster into the mid-tier price brands. We estimate this trend to continue leading to a competitive mid-tier segment in coming quarters.”

(Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

Source: OANN

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