Entry level shipments were driven by Xiaomi while premium was driven by OnePlus. Amazon dominates the market in premium phones with 77% market share
By 2022, the sector is expected to be worth USD 71.94 billion.
The scooters have been designed with quick acceleration, high storage space and new features like park assist, remote diagnostics, and on-board navigation.
"Upon closing and consolidating the financial statements of Flipkart, we expect the ongoing operations of Flipkart to negatively impact fiscal 2019 net income. We intend to fund the acquisition of Flipkart with a combination of newly issued debt and cash on hand,"
The associations, including Centre of Indian Trade Unions (CITU) and All India Kisan Sabha (AIKS), released an open statement highlighting the deal's "multifaceted dangers" to the economy, and called for its nullification.
Along with CAMIT, organisations such as Chattisgarh Chamber of Commerce, Indian Chamber of Commerce and others will campaign against the deal
The new fulfillment centre will most likely be opened in Lucknow over the next month
The department is currently studying the details received from the company, the official said, adding that they can issue notices seeking details of taxes withheld once the transactions are completed.
In a statement, the Confederation of All India Traders (CAIT) said it "has urged the ED to investigate the business module of other e-commerce companies also as largely everyone is circumventing the law, Flipkart is one example of that".
Walmart earlier this month announced that it would purchase a 77 percent stake in Flipkart for USD 16 billion
The retail giant wants to escape the riders associated with 100 percent FDI in food retail.
The sellers raised their concerns with the e-tailer on the Facebook page of Flipkart Seller Club, AIOVA said in a statement.
Some sellers on Flipkart took to Facebook to complain that they have received partial payments
Top executives of Walmart India and Flipkart today met fair trade regulator CCI to explain their activities in the country, days after submitting an application seeking approval for their USD 16-billion mega merger deal.
The two companies are expected to spend hundreds of millions of dollars towards expansion over the next few years
The decision ends weeks of uncertainty created after SoftBank said it was still undecided on the stake sale.
The Moneycontrol Graphic Spot: Walmart bought 77 percent stake in Flipkart for $16 billion as it made an elephant-footed entry into India’s exploding e-commerce market
Flipkart, which is being taken over by Walmart in a USD 16 billion deal, had introduced the furniture brand on its platform last year.
Google is examining the pros and cons of the deal and is concerned that SoftBank Group has not yet made a firm decision on whether or not it wants to exit Flipkart.
"The company's investment in Flipkart... is expected to negatively impact fiscal year 2019 EPS by approximately USD 0.25 to USD 0.30 if the transaction closes at the end of the second quarter," Walmart said in its earnings statement.
SoftBank has also held talks with Swiggy for a possible investment, according to sources.
Flipkart employees will now be able to liquidate their vested employee stock ownership plans (ESOPs), after the proposed acquisition by US-based retail giant Walmart.
On May 9, Walmart Inc said it is buying a 77 percent stake in Indian e-commerce retailer Flipkart for about USD 16 billion, but it is yet to disclose financing plans.
While Flipkart’s revenue is only around 1 percent of Walmart’s, the American retail giant will be paying a sum equivalent to nearly 7 percent of its own market cap for the acquisition.
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