New Delhi, April 16: The 5G smartphone shipments are expected to grow a whopping 255 per cent by 2021, almost reaching 110 million units, a new report said on Tuesday.
According to Counterpoint Research, while the growth will be slow during the initial commercialisation phase in 2019, there will be an uptick in sales once countries shift from non-standalone to standalone 5G infrastructure.
"We also expect 5G chips to have a higher price point which will initially drive the cost of devices up. 5G capable devices will be premium only in the beginning. Also only a handful of countries will be deploying the first 5G infrastructure," Research Director Tom Kang said in a statement.
The US, Korea, China and Japan will be key markets for 5G infrastructure development and growth of smartphone sales.
"We are seeing some great initial developments happening in the US, South Korea, China, and Japan and expect growth to be concentrated in these countries due to their big roll-out plans for 5G starting in 2019," said Research Analyst Maurice Klaehne.
Other countries, especially in Europe, are more likely to leapfrog to standalone 5G as they will want to wait for concrete business cases to arise, before fully committing to the transition.
The overall handset market will slow to a CAGR of 1-2 per cent from 2018-2021 due to market saturation and product innovations that are not spurring growth.
"5G devices will begin gaining in share in the market, but overall transition to 5G could be slow and steady. Once we establish better 5G business cases and infrastructure, the market will begin seeing higher sales overall," noted Research Director Peter Richardson.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Lenskart apologises after online backlash, releases new style guide welcoming religious symbols
New Delhi (PTI): Following massive online backlash over a purported internal grooming document, eyewear retailer Lenskart has issued a public apology and released a standardised 'In-Store Style Guide' that allows employees to wear religious and cultural symbols at work.
In a statement on X, the company said it is making its guidelines public and transparent to address the concerns of its customers and community.
The new policy "explicitly and unambiguously" welcomes all symbols of faith carried by team members, including the bindi, tilak, sindoor, kalawa, mangalsutra, kada, hijab, and turban.
"If any version of our workplace communication caused hurt or made any of our team members feel that their faith was unwelcome here, we are deeply sorry. That is not who Lenskart is, and it is not who we will ever be," the company said.
This comes following a controversy that erupted earlier this week when a document, alleged to be Lenskart's employee grooming policy, went viral on social media. Netizens pointed out that the policy restricted employees from wearing certain religious markers, particularly the bindi and tilak, sparking outrage and calls for a boycott.
Addressing the uproar a few days ago, Lenskart founder Peyush Bansal had stepped in to clarify that the viral document was an "outdated version" and did not reflect the company's current stance.
"I want to speak directly that this document does not reflect our present guidelines. Our policy has no restrictions on any form of religious expression, including bindi and tilak," Bansal had stated, apologising for the confusion and concern the situation had caused.
Building on Bansal's earlier clarification, Lenskart's latest statement emphasised the company's homegrown roots, noting that its 2,400-plus stores are run by people who bring their beliefs and traditions to work every day.
"Lenskart was built in Bharat, by Indians, for Indians... That is not something we will ever ask anyone to leave at the door," the statement read.
The retailer has now committed to ensuring that every future policy, training material, and communication carrying the Lenskart name will reflect inclusive values.
"We will do better. And we will keep earning your trust," the company said.
