Partnership seeks to leverage Vedanta’s technology and integrate it into offline centres to create a scalable hybrid model.
India’s online tutoring platform – Vendatu – buys a majority stake in Deeksha (Ace Creative Learning Pvt. Ltd) for $40 million to digitise classrooms in Tier 3 and Tier 4 cities with immersive experience and at an affordable cost.
Deeksha is a leading test preparation platform in Karnataka for board and competitive exam coaching for students of grade 11th and 12th.
More than one million students attend LIVE classes every month on the platform and more than 35 million users every month from over 10,000 cities and more than 50 countries access free content, tests, doubts, videos on Vedantu’s platform, and its channels on YouTube.
“With this acquisition, our mission is to empower and scale Deeksha’s current learning model by deploying our in-house hybrid technology to reach the masses in remote areas and create impact at scale. This culmination of online and offline capabilities will help us expand our hybrid learning initiatives,” Vamsi Krishna, CEO and Co-Founder of Vedantu, said.
With this strategic investment, Deeksha will bring in close to 13,000 of its students to Vedantu’s platform.
In addition, Deeksha will leverage Vedantu’s already existing strong credentials in live classes, educational technology and strong pedagogical content.
Personalised learning algorithms
“Deeksha has always believed in Nurturing Success of Every Child through a Triple Integration Model that amalgamates Wellness, Academics and Technology. Through this partnership, we will leverage Vedantu’s Live Class platform for our students and provide a hybrid solution that maximises learning outcomes through personalised learning algorithms,” Dr. Sridhar, Co-Founder of Deeksha, said.
Moreover, he said that Vedanta’s hybrid learning model will also enable us to provide the same “Deeksha Experience” to millions of students in smaller towns and cities at an affordable cost.
The US chip giant to relocate AI experts from various global offices to bring international tech talent and skills into the community.
The centre to collaborate across the region’s talented and growing technology ecosystem to help drive further AI innovation to fuel global solutions for many segments including healthcare, transportation and public safety.
Intel will set up its first artificial intelligence (AI) software R&D centre in the Gulf Cooperation Council (GCC) countries at Dubai Internet City to drive digital adoption.
The centre will work closely with the academic community to build a strong talent pool for future products and technologies, benefiting from Dubai Internet City’s proximity to Dubai Knowledge Park and association with Dubai International Academic City.
Taha Khalifa, General Manager for Middle East at Intel Corporation, said at the Gitex 2022 Global that Intel will also relocate AI experts from various global offices to bring international tech talent and skills into the community.
“The launch of the centre is a strong opportunity to collaborate across the region’s talented and growing technology ecosystem to help drive further AI innovation to fuel global solutions for many segments including healthcare, transportation and public safety.”
Competitive edge
Many big tech giants such as Microsoft, Oracle, IBM, HP, Huawei, Visa and SAP, to name a few, have set up research centres at Dubai Internet City.
Ammar Al Malik, Executive Vice President for Commercial Leasing at TECOM Group PJSC, said that Dubai’s integrated business ecosystem and favourable economic climate have attracted the world’s largest companies whose innovations and insights have strengthened digital transformation not only in the Emirate, but also the wider region.
“Advanced technologies like artificial intelligence are defining the future of all sectors, from manufacturing to education, and establishing a robust tech ecosystem to navigate this emerging and ever-evolving space gives Dubai a competitive edge beneficial to businesses, talent and economic growth alike.”
5G devices accounted for 33.5% of smartphone shipments in the second quarter and will account for 82.7% of total GCC smartphone shipments by 2026.
Despite a decline in smartphone shipments into the Gulf Cooperation Council (GCC) region in the second quarter, Samsung retained its leadership with a 48.4 per cent share.
But Samsung registered a 6.3 per cent quarter-on-quarter decline in the quarter.
Second-placed Apple, with a 16 per cent share, saw shipments decline 4.4 per cent quarter on quarter, with consumers awaiting the release of the iPhone 14 series of devices in the third quarter. Xiaomi accounted for a 15.2 per cent share but suffered a 6.2 per cent quarter-on-quarter decline in shipments as it shifted its focus to midrange and high-end devices.
Total shipments of mobile phones to the region, according to International Data Corporation (IDC), declined 8.9 per cent quarter on quarter to a total of 5.56 million units.
Smartphone shipments were down eight per cent to 5.03 million units, while feature phone shipments declined 16.9 per cent over the same period to 0.53 million units.
In terms of value, the GCC smartphone market was worth $1.83 billion, a decrease of 11.6 per cent quarter on quarter while the feature phone market totalled $10.15 million, down 9.1 per cent.
Slowing consumer demand
“The channels reported that consumer demand is slowing, and household spending is increasingly being directed toward essentials in the major markets of Saudi Arabia and the UAE, a trend that vendors are trying to counter with price promotions,” Akash Balachandran, research manager at IDC, said.
“Supply shortages eased in the low-end segment of the market ($100<$200), with shipments of these devices improving in the second quarter. However, this relative improvement on the supply side was not enough to prevent quarterly declines across all the other price bands.”
Saudi Arabia accounted for 51.6 per cent of all smartphones shipped across the GCC, although shipments to the Kingdom were down 10.8 per cent quarter on quarter in unit terms.
The UAE, which is the GCC’s second-largest market, accounted for 24.0 per cent of the region’s overall smartphone market, with shipments to the country declining 11.4 per cent.
“The Saudi smartphone market endured the twin challenges of increasing re-exports and lower consumer demand in the quarter,” he said.
Meanwhile, in the UAE, he said that channels reported that fluctuating prices were a major challenge in Q2 2022, leading to the quarterly decline that was seen in the country’s smartphone market.
5G to come into mid-tier phones
The GCC smartphone market is forecast to grow 6.6 per cent quarter on quarter in the third quarter.
Regional events like the FIFA World Cup 2022 in Qatar will help drive retail footfall in the region, while the release of new Apple devices will help drive overall value growth.
“5G penetration is set to continue to grow as the technology is expanding into lower price bands,” says Ramazan Yavuz, a senior research manager at IDC.
“5G devices accounted for 33.5 per cent of smartphone shipments in the second quarter and the technology is expected to become standard in mid-tier price bands among Android vendors. By the final quarter of 2026, we expect that 5G devices will account for 82.7 per cent of total GCC smartphone shipments.”
Shipments will increase by 66.6% to 13.5 million in 2022 and reach 41.5m in 2026, IDC says
Nabila Popal says the biggest question today is whether foldables will become mainstream anytime soon?
Foldable smartphone shipments will increase by 66.6 per cent to 13.5 million units this year compared to a year ago, fuelled by Samsung’s Flip and Fold lineup.
“The recent launch of the Galaxy Z Flip 4 and Fold 4 will once again shine a spotlight on the entire category as Samsung continues to be the gold standard for foldable devices in the market,” Anthony Scarsella, research manager at International Data Corporation, said.
Recent technological advancements are encouraging individuals to shift from personal computers and laptops to foldable phone to perform various professional or personal tasks.
Leading players in the market such as Huawei and Samsung have been at the fore of foldable phone technology and they are expected to continue releasing newer products in the market.
New entrants
According to Counterpoint Research, Samsung enjoyed dominant market share of foldables, accounting for 62 per cent of the market in the first half of this year while Huawei and OPPO came in a distant second and third.
Jene Park, Senior Analyst at Counterpoint Research, said that Samsung has led the market since the beginning, and expects its dominance to continue for some time.
Huawei, OPPO, Xiaomi and vivo are all introducing new foldables but they are mostly limited to the Chinese market. Motorola may be the only contender in markets like the US for now.
“We expect the new Galaxy Fold 4 and Flip 4 combo to continue Samsung’s momentum in the space and sell close to nine million units this year, helping the company’s second half foldables share to jump to 80 per cent.”
Grabs more consumer attention
Moreover, IDC projects that foldable phone shipments will reach 41.5 million units in 2026, with a compound annual growth rate of 38.7 per cent from 2022 to 2026.
“We expect the newly updated models will outperform their predecessors and grab more consumer attention in the category. The commercial segment of the market remains ripe for utilizing foldables as two-in-one devices that can replace both a phone and a tablet,” Scarsella said.
Although IDC still believes this use case remains a low priority, falling prices and new business use cases make the idea more appealing moving forward. Next year will bring 55.1 per cent growth for foldables with continued double-digit growth throughout the forecast period.
Price remains a pain point
“The new launches from Samsung have brought incremental but critical improvements over their predecessors. The success of these devices should be a strong indicator of how foldables will evolve and capture consumers moving forward. While the price remains a pain point for consumers, the $999 starting price may be accepted by consumers given that most consumer goods have seen price increases due to inflation in 2022,” Scarsella said.
However, Nabila Popal, research director at IDC, said that the biggest question today is whether foldables will become mainstream anytime soon?
“Unfortunately, the answer is no,” she said.
“To me, mainstream means volume, and volume is dominated by cheaper, sub-$400 phones. While it may be tempting for vendors to swoop in with lower selling prices to generate an initial boost in sales, I strongly believe that is not a good move – especially not at the expense of quality and user experience.”
Foldables should remain a niche and premium flagship device, she said and added that vendors should focus on improving user experience and building to increase confidence in the category and generate long-term growth.
“I believe foldables are the future of premium Android devices even if, as a whole, they are only expected to capture less than three per cent of global volume by the end of our forecast period.”
Chappers has redefined the famous kolhapuri chappals with vibrant colours and made them more comfortable.
First in India to use a 3D customisation software, virtual reality and sensor to grab the opportunity.
Plans to spread its wings across major shopping malls in India in the next few years and then into the UAE and Singapore.
Startup seeks to raise Rs5 crores for expansion and eyes Rs3.2 crores in turnover this year.
The focus will be only on the men’s category and have plans to launch a small range of sneakers.
Harshwardhan Patwardhan, who redefined what the famous kolhapuri chappals can be, is banking on technology to innovate and spread its wings.
Patwardhan, Founder and CEO of Chappers, was passionate about Kolhapuri chappals even when he was studying for Business Management in Nottingham, the UK, and even gifted the chappals to his British friends.
“When I came back to India, I started working with my dad in his transportation company. I was bored there and it was a dead business. At that time, I thought of starting my own business in 2015. I thought that Kolhapuri chappals had a huge potential, which has never been explored till now,” he told TechChannel News in an interview.
For the past 500 years, he said that Kolhapuri chappals have never changed and it is been made in the same way even now, same hard leather and available in brown colour.
Harshwardhan Patwardhan, Founder and CEO of Chappers.
“During the time, I was researching about Kolhapuri and eradicated the disadvantages and gave it a good grip, made it more comfortable and in different vibrant colours – red, neon, blue, etc. We started from Kolhapuri and the business picked up. During the Covid pandemic, I realised that there is a bigger gap in the footwear market,” he said.
When a man wants to buy a chappal, he said that there is very less variety and 85 per cent of the men’s chappals are available in only two colours – brown and black.
“As men, we were told that we cannot wear red, blue or yellow colours but when we travel to Europe, we see all of these colours worn by men. I realised that there is a bigger opportunity in India not in the chappals category but also the shoes category,” he said.
The brand gained acceptance with celebrities like Sachin Tendulkar, M.S. Dhoni, and Indian Minister Nitin Gadkari, to name a few.
Enhancing people’s imagination
Chappers was the first footwear company in India to bring 3D footwear customisation screens to its stores.
When I started the customised shoe business, Patwardhan said that people were not able to imagine shoes in different colours.
“That is when we realised that we can use technology to enhance their imagination. That is when we developed India’s first virtual footwear customisation software. Now, we have footwear customiser in all of our stores and it will be available online in the next couple of weeks,” he said.
However, he said that since it is heavy software, the loading time is going to create a problem but “we are trying to optimise it.”
On their website, the customiser for kolhapuri chappals is already available but for the shoe category, it will be available in the next couple of months.
Chappers started their exclusive showroom in 2017 in Pune and have four stores in Pune and also in multi-branded outlets.
Customisation in two hours
This year, Patwardhan said that they will start B2C where customers can customise their footwear and will be delivered within 72 hours in metro cities.
“In Pune, we are delivering it in 48 hours. Since the world is moving so fast, I think we will able to customise a shoe in two hours at retail stores and two hours plus shipping time for online orders,” he said.
Chappers does not want to stick to their laurels and is exploring technology to do more.
Patwardhan said that they are developing a small senor machine, which will be available in all of our stores.
“When a person stands on the machine, it will create a 3D image of your foot and the machine itself will suggest you the size. We use VR for 3D customisation and we will be using AI for internal promotional messages and advertisements by collecting the data from the customers,” he said.
The startup is bootstrapped and has an EBTIDA margin of 25 per cent and a gross margin of 70 per cent.
“This year, we are looking to raise about Rs5 crore and are planning to have our presence in all the good malls of India, about 350 malls, in the next five years in a low inventory and kiosk model. We sell about 10,000 pairs per year,” he said.
One lakh customers in two years
Moreover, 65 per cent of its total sales still come from Kolhapuri, he said.
The startup has a turnover of about Rs2.5 crores and eyes Rs3.2 crores this year.
“We are delivering to 27 countries, individual orders, and have, so far, shipped 500 orders outside India. After five years, we are looking to have our presence in the UAE and Singapore. In the next two years, we aim to have one lakh customers,” Patwardhan said.
When asked whether they plan to enter into women’s footwear, he said that even though they produce in small quantities to close friends and relatives, they are not keen to enter into that space.
“The women’s footwear market is already saturated. If you go to a mall, 80 per cent of that women’s wear and men have only 20 per cent. Now, there is a sneaker wave going on, we are planning to launch a small range of cool sneakers to test the water,” he said.
Site opens space for three couples to get married in metaverse
Couples will be united in blockchain matrimony at the event and will get NFT certificates of their marriage.
For the first time, singles from around the world can experience dating in the virtual world through Dating.com, where distance is no boundary to finding a match.
Dating in virtual reality via avatars allows people to create connections without any of the materialistic, superficial factors or judgments that they might make or be subjected to in the external, physical world.
Singles can build relationships focused on personality, shared values, and common interests, without any fear of wasting time and money on in-person dates.
Dating.com will host the wedding of the year in which three real, intercontinental couples that captured each other’s hearts on the platform will be virtually married in the metaverse.
Digital transformation
While these individuals are located in various countries – and even continents – around the world, the couples will be united in blockchain matrimony at this unique event, and they will get NFT certificates of their marriage.
Each couples’ friends and family as well as an officiant will be present at the metaverse ceremonies. Guests will be asked to follow a formal dress code.
“Dating Group has been at the forefront of innovation, catering to audiences of every kind and helping them develop relationships around the world. Our site has had a legacy of making social discovery possible and bringing the platform into the metaverse is the next step of our evolution,” KJ Dhaliwal, Chief Strategy Officer for Dating Group, said.
“We’re pleased to be the first dating site to unveil our virtual dating world and we’re looking forward to seeing Dating.com users continue to make global connections in this new space.”
Ultimate sign of digital love
Dating.com has developed a unique architecture in decentraland that is saturated with the atmosphere of love. Here, singles can participate in various interactive activities and zones. In addition, Dating.com’s unique gift giving feature has been transformed for the virtual reality world, and singles can now gift each other NFTs – the ultimate sign of digital love.
“Making new connections and starting a new relationship can be intimidating, but dating in the metaverse allows singles to shed any insecurities they might feel while setting up a traditional online dating profile,” Maria Sullivan, relationship expert and Vice President of Dating.com, said.
Dating Group has offices in seven countries and a team of more than 700 professionals with more than 73 million registered users across the entire portfolio.
Dating Group brands include Dating.com, Dil Mil, Once, Cupid Media, DateMyAge, LovingA, and many more, each with a unique platform tailored to different communities defined by interest, geography and demographics.
