Convergence Plus
Thursday, November 26, 2020
Vodafone Group says no to infuse new equity in Voda Idea

HealthifyMe Vodafone Group has maintained its stance that it will not invest any fresh equity into Vodafone Idea NSE -3.98 %

“ Our position has not changed. Vodafone Group does not intend to put any new equity into Vodafone Idea,” said the UK headquartered telecom Group in an email statement to ET.

This comes on the back of the Indian telco’s announcement to raise funds of upto Rs 25,000 crore via a mix of debt and equity instruments in one or more tranches, which will be used to pay statutory dues and invest in network operations to take rivals.

Vodafone Group though is expected to infuse around Rs 6,600 crore as per pre-agreed merger terms. The British telco has already put in over Rs 1,800 crore under this arrangement, of a total corpus of Rs8,400 crore.

The telco needs funds to pay its adjusted gross revenue (AGR) of Rs 50,400 crore to the government. It can also look forward to income tax refunds, around Rs1600 crore from VIL's stake sale in the Indus Towers-Bharti Infratel merged entity and the sale of its fibre and data centre, which is estimated to generate $1.5-2.1 billion.

Currently, Vodafone Group holds 44.39% in the telco, with the Aditya Birla Group owing 27.66%. The company is laden with a debt of Rs 1.7 lakh crore, including statutory dues. (Source: Economic Times)

Airtel gradually reducing dependency on Huawei 4G; set to replace it with Ericsson

Airtel, Vodafone Idea, Tata Tele likely to pay AGR dues on Monday: DoT source Bharti Airtel is likely to replace Huawei with Sweden’s Ericsson for 4G network expansion and modernisation in the Rest of Tamil Nadu (RoTN) circle, people familiar with the matter said, as the Sunil Mittal-led telco takes gradual steps towards reducing dependency on the Chinese telecom gear maker.

Bharti Airtel is likely to replace Huawei with Sweden’s Ericsson for 4G network expansion and modernisation in the Rest of Tamil Nadu (RoTN) circle, people familiar with the matter said, as the Sunil Mittal-led telco takes gradual steps towards reducing dependency on the Chinese telecom gear maker.

“Without Rest of Tamil Nadu, Huawei will just have two Airtel circles. Airtel has already stopped giving packet core orders to Huawei for any capacity expansion,” a person said on condition of anonymity. “All such orders have gone to Ericsson.”

Ericsson, which is the second-largest vendor for Airtel, declined to comment. Queries sent to Huawei remained unanswered.

"Airtel has strong relationships with several partners. These partners work across all our domains, radio, core and transport,” an Airtel spokesperson said in a statement to ET.

Huawei had increased its involvement with the Airtel network in 2017 when it got Rajasthan and UP (West) on top of Karnataka and Rest of Tamil Nadu.

But it is now likely to be back to two, with the telecom major, with over 284 million users, in late 2019 having swapped Huawei’s gear with Ericsson’s in the Rajasthan circle. That came at a time when the pressure on Huawei was increasing, mainly from the US, for its alleged proximity to the Chinese government, leading to concerns over possible snooping.

And now, India too has made its security concerns around Huawei clear, especially in the wake of the heightened border tensions with China. New Delhi has already barred state-run carriers from sourcing equipment from Chinese companies Huawei and ZTE, and is believed to have informally nudged private telcos to replace Chinese equipment over time, without disrupting consumer services. Besides the US, even the UK recently banned the purchase of Huawei 5G equipment and said any such gear that’s installed needs to be removed by 2027.

Randeep Sekhon, chief technology officer at Bharti Airtel, previously told ET that alternative suppliers were available if needed. “We will be fully compliant with government orders… To be fair, there are enough suppliers in the world and new suppliers are coming in. India should be fine with it.”

The comments had come soon after the US tightened restrictions on the Chinese vendor, which meant that Taiwanese Semiconductor Manufacturing Co (TSMC), the world’s largest contract semiconductor maker, had to stop taking new orders from Huawei. This is expected to affect Huawei’s supplies globally, including to Indian vendors. (Source:ETTelecom)

Anritsu Extended 116-Gbit/s PAM4 Error Detector Functions Take World Lead in Evaluations for 400-GbE and 800-GbE Transmissions

HealthifyMe With the release of the FEC symbol capture function and Bathtub test capability for Anritsu's 116-Gbit/s PAM4 Error Detector (ED) MU196040B installed in its flagship Signal Quality Analyzer-R MP1900A series, Anritsu (President Hirokazu Hamada) is pleased to announce strengthened support for development of devices for 400-GbE*1 and 800-GbE*2 transmissions. These functions are supported by downloading and installing the latest control software from the MP1900A website -

The spread of commercial next-generation 5G mobile communications services enables faster sending and receiving of large video and data files. To support larger and faster transmissions, data centers, which are key infrastructure in 5G mobile networks, are also investigating speed upgrades from the current 100 GbE*3 to 400 GbE and future 800 GbE/1.6 TbE standards.

PAM4*4 used in 400 GbE is easily affected by noise and transmission path losses, making it difficult to achieve the previous level of error-free transmissions and requiring use of FEC (Forward Error Correction*5) to correct generated errors and maintain transmission quality.

Consequently, there is increasing need for quantitative measurement of jitter-related signal quality, such as jitter tolerance*6 measurement for evaluating the performance of high-speed devices and transceivers for 400-GbE.

[Outline of Developed Product]
To meet this need and support 400G network evolution, Anritsu has added two new features to its MP1900A: the FEC symbol capture function to evaluate FEC-based network elements, and the PAM4 Bathtub*7 test capability.

In today’s high-speed networks, some low-probability errors are expected in data traffic and these errors are corrected using FEC. The new MP1900A ED functions analyze the types of errors to evaluate whether or not the errors can be corrected by FEC and starts capturing data streams only when the burst errors exceed the FEC uncorrectable threshold. From the captured data, a user can determine and troubleshoot what kind of data steam caused the uncorrectable burst errors.

Since the impact of jitter becomes severe as the data-stream baud rate is increased to achieve a higher traffic capacity, Anritsu has added the PAM4 Bathtub test capability to evaluate and quantify the jitter phase margin.

The modular MP1900A running embedded Windows 10 has good expandability. As well as supporting 400-GbE and 800-GbE PAM4, it is a market-leading bit error rate tester (BERT) for various high-speed interfaces, including PCI Express Gen5 and USB4, using a full line of modules and application software. In addition to more accurate BER measurements, the MP1900A helps shorten development times for high-speed devices and transceivers.

[About MP1900A PAM4 BERT Solution] [About leaflet on FEC symbol capture function]

[Target Markets and Applications]
■ Target Markets: 400-GbE and 800-GbE communications equipment and device makers
■ Applications: Bit error rate evaluation of 400-GbE and 800-GbE communications equipment and devices
*1, *2, *3 400 GbE, 800 GbE, 100 GbE
Communications standards studied and defined by IEEE
*4 PAM4
PAM (Pulse Amplitude Modulation) is a transmission method controlled by changing the voltage amplitude (pulse height). PAM4 transfers 2 bits of data using 4 levels in one time slot.
*5 Forward Error Correction
One receiver-side method of correcting errors in transmitted data generated by transmission path *6 Jitter Tolerance
Ability to receive signals including jitter in input signal at receiver side *7 Bathtub
Method of analyzing jitter by separating jitter components included in input signal from changing properties of error rate on time axis (Source: Convergence Plus)

Tiktok Considers London And Other Locations For Headquarters To Distance Itself From Its Chinese Ownership

HealthifyMe TikTok has been in discussions with the UK government over the past few months to locate its headquarters in London, a source familiar with the matter said, as part of a strategy to distance itself from its Chinese ownership.

London is among one of several locations the company is considering, but no decisions have been made, the source said.

It was not immediately clear what other locations are under consideration. But it has hired aggressively in California this year, including poaching Kevin Mayer, a former Walt Disney Co executive, to be TikTok’s chief executive. He is based in the United States.

TikTok is facing heavy scrutiny in Washington over suspicions China could force the company to turn over user data. TikTok is owned by China-based ByteDance.

The source said the company is largely focused on its issues in the United States over the last few weeks, but has not ruled out London as a potential location for its new headquarters. TikTok is expected to "significantly" increase the size of its workforce in London and other key locations outside of China over the next several years, the source said.

The Sunday Times reported Tiktok has broken off talks with the UK government to open a global headquarters in Britain.

A source said Tiktok was still in discussions with Britain's government.

TikTok declined to comment. (Source: Economic Times)

Qualcomm To Invest ₹730 Crore In Jio Platforms

Airtel, Vodafone Idea, Tata Tele likely to pay AGR dues on Monday: DoT source Qualcomm Ventures, the investment arm of chipmaker Qualcomm Incorporated, has committed to invest up to ₹730 crore in Jio Platforms for 0.15 per cent stake. Qualcomm is the thirteenth investor in Jio Platforms which has raised a total of over ₹1.18 lakh crore.

The latest investment will deepen the ties between Qualcomm and Jio Platforms, to support Jio Platforms on its journey to rollout advanced 5G infrastructure and services for Indian customers.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “As a world leader in wireless technologies, Qualcomm offers deep technology knowhow and insights that will help us deliver on our 5G vision and the digital transformation of India for both people and enterprises.”

Steve Mollenkopf, CEO of Qualcomm Incorporated, said, “With our shared goal of extending the benefits of digital connectivity to everyone and everything, we anticipate Jio Platforms will deliver a new set of services and experiences to Indian consumers.”

The transaction is subject to customary conditions precedent. Morgan Stanley was the financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell were legal counsels. Trilegal was legal counsel for Qualcomm Ventures. (Source: The Hindu Businessline)

Anritsu Expands High-frequency Components Line to Address Emerging High-speed Design Test Requirements

HealthifyMe New 110 GHz W1 Components Extend Anritsu’s Portfolio and Help Create Test Environments to More Accurately Verify mmWave and Optical Designs. Anritsu Company expands its W1 (1.0 mm) component line with the introduction of bias tees, DC block, and semi-rigid cables that operate to 110 GHz and provide broadband frequency scalability in high-frequency device characterization and optical networking applications.

The addition of the new W1 components provides Anritsu with the broadest millimeter wave (mmWave) coaxial component portfolio in the market, and they can be integrated in test systems so engineers have greater confidence in their emerging high-speed designs.

W1 Components Support High Frequencies
Anritsu’s component technology leadership in mmWave frequencies is re-enforced with the introduction of the W1 components. No other company has a more complete set of 110 GHz components for frequency and time domain use.

With operable frequency of DC to 110 GHz, the new W1 components generate metrology-grade quality results with high repeatability. Further ensuring flexibility for customer testing, these new components provide a component solution where conventional devices, including waveguide, do not exist. The W1 coaxial interface allows for a direct connection to the instrument test port, which saves time and simplifies system setup.

The new components can be used as part of a test system consisting of 110 GHz vector network analyzers (VNAs), oscilloscopes and Bit Error Rate Testers (BERTs), as well as for optical transceivers, laser diodes, photodiodes and optical modulators. Development of switches and routers using NRZ and PAM4 modulation schemes with 56 Gbps and 112 Gbps data rates, and 800G technology are applications, as well. (Source: Convergence Plus)

Mark Zuckerberg loses $7 billion as firms boycott Facebook ads

HealthifyMe Mark Zuckerberg just became $7.2 billion poorer after a flurry of companies pulled advertising from Facebook Inc.’s network. Mark Zuckerberg just became $7.2 billion poorer after a flurry of companies pulled advertising from Facebook Inc.’s network. Shares of the social media company fell 8.3% on Friday, the most in three months, after Unilever, one of the world’s largest advertisers, joined other brands in boycotting ads on the social network. Unilever said it would stop spending money with Facebook’s properties this year.

The share-price drop eliminated $56 billion from Facebook’s market value and pushed Zuckerberg’s net worth down to $82.3 billion, according to the Bloomberg Billionaires Index. That also moved the Facebook chief executive officer down one notch to fourth place, overtaken by Louis Vuitton boss Bernard Arnault, who was elevated to one of the world’s three richest people along with Jeff Bezos and Bill Gates.

Companies from Verizon Communications Inc. to Hershey Co. have also stopped social media ads after critics said that Facebook has failed to sufficiently police hate speech and disinformation on the platform. Coca-Cola Co. said it would pause all paid advertising on all social media platforms for at least 30 days.

Zuckerberg responded Friday to the growing criticism about misinformation on the site, announcing the company would label all voting-related posts with a link encouraging users to look at its new voter information hub. Facebook also expanded its definition of prohibited hate speech, adding a clause saying no ads will be allowed if they label another demographic as dangerous. "There are no exceptions for politicians in any of the policies I’m announcing here today," Zuckerberg said. (Source: Economic Times)

Google ends trial of algorithm-selected photo printing service

Pre-Bookings open for Samsung Galaxy S20, S20+, and S20 UltraGoogle is all set to end its trial program of a subscription-based service that sent algorithm-selected prints from their Google Photos libraries, Droid Life reported. The service was launched in February in the United States. Google charged a monthly fee of $7.99 that gave 10 4x6 prints of the past 30 days.

The printing service allowed users to choose which themes the service should prioritize in selecting the prints, offering “people and pets,” “landscapes,” and “a little bit of everything” as options. Users were able to edit the selections before the photos were printed, Verge reported. Google sent a notice to subscribers that the service would not be available after June 30th, according to Droid Life.

Relaunch or shelving of service
The tech giant stated: “Thank you for your invaluable feedback these last several months. You have provided us with a lot of helpful information about how we can evolve this feature, which we hope to make more widely available. Please keep your eyes open for future updates.”

“Although we will be ending the trial program, we hope that you have experienced some joy from the prints you received along the way,” it said.

Google was not forthcoming about the relaunch of the service, or if it’s being shelved indefinitely. (source: The Hindu Businessline)

Jio Platforms to raise another Rs 6441.3 crore by selling stakes to TPG, L Catterton

HealthifyMe While TPG is set to invest Rs 4,546 cr in Jio for a 0.93% stake, L Catterton will invest Rs 1,894 cr to pick up 0.39%. Jio Platforms is set to raise another Rs6441.3 crore by selling a combined 1.32% to US private equity firms TPG and L Catterton. These are the eighth and ninth investors, respectively, to announce picking up stake in the Reliance Industries’ (RIL) telecom and digital business in seven weeks.

While TPG is set to invest Rs 4,546.80 crore in Jio Platforms for a 0.93% stake, L Catterton will invest another Rs1,894.50 crore to pick up 0.39%.

The investments peg Jio Platforms’ equity value at Rs 4.91 lakh crore and enterprise value at Rs 5.16 lakh crore. With the latest investments, parent Reliance Industries stands to get Rs 104,326.95 crore from the nine investors in exchange for 22.38% stake, the group said in a statement Saturday.

The funds coming from stake sales in Jio Platforms and the Rs 53,124 crore from a rights issue will help lower Reliance’s consolidated net debt significantly from Rs 1.61 lakh crore at the end of FY20. Reliance is now well placed to meet its zero net-debt target by March 2021, analysts said.

“Today, I am happy to welcome TPG as valued investors in our continued efforts towards digitally empowering the lives of Indians through the creation of a digital ecosystem. We have been impressed by TPG’s track record of investing in global technology businesses which serve hundreds of millions of consumers and small businesses, making the societies we live in better,” Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said in the statement.

The Jio Platforms unit comprises mostly its telecom business under Reliance Jio Infocomm, which is the largest in the country with more than 388 million subscribers, besides other digital properties and investments. Reliance, which is trying to transform into a consumer technology giant from an oil and petrochemicals major, has talked about building Jio Platforms into a digital entity on the lines of Alphabet and Tencent.

TPG is a leading global alternative asset firm founded in 1992 with more than $79 billion of assets under management across a wide range of asset classes, including private equity, growth equity, real estate and public equity. Its investments in global technology companies include Airbnb, Uber, and Spotify, among others.

“We are excited to partner Reliance to invest in Jio. As an investor in growth, change, and innovation for over 25 years – and with a longstanding presence in India -- we are excited to play an early role in Jio's journey as they continue to transform and advance India's digital economy. Jio is a disruptive industry leader that is empowering small businesses and consumers across India by providing them with critical, high-quality digital services,” Jim Coulter, Co-CEO TPG, said in the statement.

“The company is bringing unmatched potential and execution capabilities to the market, setting the tone for all technology companies to come,” he added.

TPG is making the investment from its TPG Capital Asia, TPG Growth, and TPG Tech Adjacencies (TTAD) funds.

“The transaction is subject to customary conditions precedent,” RIL said in one of the statements.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels. Shardul Amarchand Mangaldas & Co. acted as legal counsel for TPG.

Morgan Stanley also acted as the financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels, on the L Catterton deal.

On the investment from consumer focussed PE firm L Catterton, Ambani said, “I am delighted to welcome L Catterton as a partner in our journey to unleash the power of digital for India while providing a consumer experience that is among the best in the world. I particularly look forward to gaining from L Catterton’s invaluable experience in creating consumer-centric businesses because technology and consumer experience need to work together to propel India to achieving digital leadership”.

Founded in 1989, L Catterton has a 30-year track record of leveraging its operational expertise, deep sector insights, global network of resources, and its unique partnership with LVMH and Groupe Arnault, L Catterton has successfully invested in and helped build some of the most innovative brands at the forefront of the evolving consumer landscape, including Peloton, Vroom, ClassPass, Owndays, FabIndia, and more.

“We are strong supporters of fostering growth through product development, enhanced digital capabilities and strategic alliances. We look forward to partnering with Jio, which is uniquely positioned to execute on its vision and mission to transform the country and build a digital society for 1.3 billion Indians through its unmatched digital and technological capabilities,” Michael Chu, Global Co-CEO of L Catterton, said.

Other investors so far besides TPG and L Catterton, have been Abu Dhabi’s two largest sovereign investment arms Abu Dhabi Investment Authority and Mubadala, private equity firms Silver Lake, Vista Equity Partners, General Atlantic and KKR, and social media major Facebook, which has picked up the largest chunk of 9.99% for nearly Rs44,000 crore. (Source: Economic Times)

Anritsu Partners with Bluetest AB for 5G FR1/FR2 OTA Measurements

HealthifyMe Anritsu Corporation is pleased to announce its enhanced partnership with Bluetest AB of Sweden offering a new unified test solution for Over The Air (OTA) measurement of 5G mobile terminals.

Anritsu and Bluetest have cooperated previously on LTE/5G FR1 (Sub-6 GHz band) OTA measurements, but this enhanced partnership combines Bluetest's RTS65 OTA Reverberation Test System equipped with the new Compact Antenna Test Range (CATR) option and Anritsu's MT8000A RF measurement test platform for 5G mobile terminals to implement new 5G FR2 (mmWave) OTA measurements.

Generally, a separate OTA chamber was required for each LTE/5G FR1 and 5G FR2 OTA measurement, but this unified solution facilitates both measurements using just one chamber, resulting in lower costs for LTE/5G terminal developers as well as for operator Communication Acceptance Tests (CAT) in a LTE/5G OTA test environment; the unified smaller system also saves valuable laboratory space.

Vodafone Idea makes interest payment to Mutual Funds

Pre-Bookings open for Samsung Galaxy S20, S20+, and S20 UltraFranklin Templeton Mutual Funds receives Rs 103 crore, Nippon India Rs 9.31 crore and UTI Mutual Funds 13.5 crore. There is some good news for debt investors of mutual funds. Vodafone Idea has paid the annual interest on the debt raised, which will now be distributed among investors.

In February, most mutual funds, including Franklin Templeton Mutual Fund, Nippon India Asset Management Company and UTI Mutual Fund, had side-pocketed the investment and investors were issued units in segregated accounts.

Six schemes of Franklin Templeton will distribute ₹103 crore, while Nippon India Hybrid Bond Fund has received ₹9.31 crore. UTI Mutual Fund had received ₹13.5 crore.

Nippon India, in a statement, said the part-payment will be credited in investors’ accounts in three days and they are confident of receiving the full payment.

The payout shall be processed by extinguishing proportionate units in the plans of the segregated portfolio of the respective schemes. After the payment, the number of units outstanding in the investor’s segregated account would fall to the extent of payout.

Exposure to Vodafone
As of February, debt mutual funds had a combined exposure of ₹3,390 crore to Vodafone Idea. The Supreme Court had directed Vodafone Idea to deposit a combined $13 billion in past dues for spectrum and licences in a month and rejected plea for extended payment. Vodafone Idea, which owes the government the most among its peers, said its ability to continue as a going concern depends on whether the apex court modifies a previous order that had set January 24 as the deadline for payment. Following this, Care Ratings cut Vodafone Idea’s bonds and loans to BB- from BBB- Monday, citing a sharp erosion in the overall risk profile of the company after the Supreme Court offered no relief for its fee payment.

UTI and Nippon India Mutual Fund side-pocketed their exposure in Vodafone Idea on February after Care Ratings downgrade, while Franklin Templeton did it in six of its debt schemes when Crisil downgraded in January.

Incidentally, Franklin Templeton is in the process of winding up the six debt schemes, which has been stayed by the Gujarat High Court.

However, an analyst said distribution of fund received from Vodafone Idea in the segregated portfolio will not be affected by the Court's stay order. (Source: The Hindu Businessline)

WeWork Global to invest $100 million in India business

Pre-Bookings open for Samsung Galaxy S20, S20+, and S20 UltraWeWork India — the global platform that provides collaborative workplace solutions — will receive $100-million financing from WeWork Global to help boost sustainable growth. The financing by WeWork Global reiterates the company’s focus on India as a strategic market.

The pandemic has accelerated the shift to flexible workspaces, with businesses of all sizes looking to manage cash-flows effectively by moving costs to a variable model. Space as a service is a huge opportunity for them to free up cash, and WeWork has the right foundations and experience to provide safe, flexible workspaces, the company said in a press statement.

In line with its belief that the future of work will be centred around flexible workspaces, a shift accelerated by the pandemic, WeWork India is looking to navigate this transformation by prioritising focused growth in the Indian market over the next 36 months. WeWork India is already profitable and plays an important role in the global scheme of business for WeWork. The WeWork India business will be focussing on showcasing their strengths through its extensive network of partners and vendors in the market.

“The flexible workspace industry in India and around the world is facing its biggest challenge yet. In that, we see a new opportunity that suits our members’ evolving needs. This is driven by an acceleration towards variable real estate costs, the confidence of safe and well-managed workspaces for their employees, and the growth opportunities that are intrinsic to the WeWork community. The fresh round of capital from our long-term partners at WeWork global represents a vote of confidence in our strategy and will help us serve our community better," Karan Virwani, CEO, WeWork India, said. "WeWork India’s financial performance has shown consistent growth, and with the fundamentals in place at a building level backed by the expertise of the Embassy Group, we believe the WeWork India business has the ability to be our growth vehicle and provide our members an exceptional experience," Sandeep Mathrani, CEO of WeWork, said.

WeWork entered into a partnership with Embassy Group - an integrated real estate developer in 2017 and started operations in the Indian market. Embassy Group currently holds 100 per cent rights over WeWork India, which is an independent entity with the right to execute WeCo’s business in the country. Since entering India, WeWork has been providing full service and innovative workspaces with over 60,000 desks in 34 locations, across six cities where businesses of all sizes can choose from a range of unique product offerings. (Source: The Hindu Businessline)

Google postpones Android 11’s beta release slated for June 3

Airtel, Vodafone Idea, Tata Tele likely to pay AGR dues on Monday: DoT source Google has postponed the launch of the beta version of its latest OS for Android, Android 11 which was slated for June 3.

“We are excited to tell you more about Android 11, but now is not the time to celebrate. We are postponing the June 3rd event and beta release. We'll be back with more on Android 11, soon,” the Android Developers account tweeted.

The search giant has decided to postpone the public launch of its of Android 11 beta version given the situation. Thought the search giant has not specified an explicit reason for the delay, it is likely owing to the nationwide protests across the United States following the death of George Floyd, the Verge reported.

Protests have erupted across the country after a black individual named George Floyd died in police custody in Minneapolis, Minnesota. According to media reports, there have been multiple instances of protests, looting, and fires including conflicts in the Bay area where Google and most of its employees are based, the report said.

Given the current situation, the search giant is likely to have cancelled the event for humane reasons.

Google had announced the event earlier this month and had said that it will introduce a ‘host of other things' alongside the new update.

Google had released its earliest Android 11 for developers back in March. Last month, it had released the third update for developers which included features such as app exit reasons updates, Android Debug Bridge (ADB) Incremental, wireless debugging, and data access auditing among others. The new date for the launch of Android 11 beta version has not been specified yet. (Source: The Hindu Businessline)

ByteDance digs deep; second corporate entity in India soon

HealthifyMe The new entity, according to two sources with knowledge of the developments, is likely to provide Information Technology and IT enabled services support to all of ByteDance’s platforms worldwide, including in India.

ByteDance is setting up a second corporate entity in India, as the Chinese multinational internet technology company looks to deepen its roots in Asia’s third-largest economy, among its most active markets globally.

The new entity, according to two sources with knowledge of the developments, is likely to provide Information Technology and IT-enabled services support to all of ByteDance’s platforms worldwide, including in India.

It will also include working on content generated across its various platforms, issues that the startup has been facing across geographies. An email sent to ByteDance spokespersons in India, on Saturday evening, did not elicit any response till the time of going to press.

The company, which commands a secondary private market valuation of about $110 billion, owns and operates popular short-form mobile video app TikTok and social media platform Helo apps. It also has content discovery platform Toutiao and Douyin, the Chinese twin of TikTok, as well as Xigua Video, among others in its portfolio.

Sources said ByteDance was expected to formally file an application with the government and regulators, including the Department for Promotion of Industry and Internal Trade in the next few weeks.

Last month ET reported that in India, fewer people downloaded Tik-Tok in April and May compared to the previous two months, amid reduced marketing and ad-budgets due to the Covid-19 pandemic, along with a persistent anti-China sentiment that saw users calling for a ban.(Source: The Economic Times)

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