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Wednesday, July 20, 2011

New Galaxy Tab launched by Samsung

IIPM Mumbai Campus

Samsung Electronics Co launched a thinner and lighter version of its Galaxy tablet in its lucrative home market, trying to halt the runaway success of Apple Inc's iPad.

The Galaxy Tab 10.1 is an upgraded version of the 7-inch Tab introduced in October.

Apple sold 14 million iPads in the first half of the year, compared with analysts' sales estimates of about 7.5 million units for the Galaxy Tab over 2011.

"As our smartphone business grew very fast within a very short period of time, I believe it's just a matter of time for our tablet business to improve," J.K. Shin, head of Samsung's mobile division, told reporters.

Samsung is Apple's nearest rival in the booming mobile device industry as it leverages its cost competitiveness and access to chips and core tablet components.

It has sharply narrowed the gap with Apple in the smartphone market, but remains a distant second in the tablet market, which research firm Gartner forecasts will surge to 108 million devices next year from an estimated 70 million in 2011.

"Apple's quarterly results showed again it's indeed the strongest rival to beat. Samsung will have a tough second half due to growing competition from Apple as it is set to introduce a new iPhone," said James Song, an analyst at Daewoo Securities.

The sale of the Tab in Korea is Samsung's fifth launch after its U.S. debut a month ago and its sales kickoff in Indonesia, where the company says it commands a 65 percent market share. It has also launched the device in Italy and Sweden.

Pricing for the new product, slightly thinner and lighter than the iPad 2, starts from $500 in the U.S. market, the same price as the iPad 2.

Samsung faces the challenge of moving beyond being a hardware company, clever at copying ideas, to becoming more creative and better adept at software at a time when consumer gadgets are getting smarter.

Samsung reiterated Wednesday it aimed to boost tablet sales by more than five fold this year. It didn't provide specific numbers but analysts expect the company to have sold about 1.5 million units last year.

Saturday, July 09, 2011

SBI stops lending in Noida Extn & Greater Noida

There may be trouble finding a lender if you are scouting for a house in Noida Extention or even Greater Noida. Concerns over title of land are forcing banks such as SBI to hold back fresh sanctions.

A senior SBI executive told TOI that they were not providing any loans to projects in Noida Extension as maps for several projects were unavailable. Some SBI associate banks such as state bank of Travancore builders said, are, however, still providing loans.

The sales representative of a builder who had set up a stall for the second phase on an under-construction project said lenders such as HDFC, the country's largest mortgage player, had suspended sanctioning loans recently. "They are verifying the title deeds and doing their own investigation. They may resume lending soon," the sales executive said when asked about funding options.

An e-mail sent to an HDFC spokesperson in Mumbai late on Thursday afternoon remained unanswered.

An IDBI Bank executive said the bank was still providing loans and was using the Right To Information (RTI) Act to get details of title deeds. "That is the best way to find out the status. Wherever the Noida Authority or the Greater Noida Authority is telling us that the land is free of encumbrances, we are sanctioning loans," the executive in the bank's home loan department said.

Other lenders such ICICI Bank refused to comment saying they were studying the court verdict.

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