One Thing Today in Tech
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Google to move some Pixel production to India — report; MeitY partners Meta on XR; Navi gets IPO go-ahead
Google is looking to move some Pixel phone production out of China and into India, The Information reports. The company is seeking bids from contract manufacturers for production in India. Apple has already stepped up its efforts to make more of its iPhones in India as geopolitical tensions between the US and China rise. Sachin Bansal's Navi Technologies gets its IPO go-ahead. And Peer Robotics, a Delhi startup, raises $2.3 milllion
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India to mandate 'whitelist' of loan apps; Bessemer raises $4.6 bln; ToneTag expands VoiceSe payments service
India's finance ministry has decided that loan apps need to get government approval to be listed on online app stores, predominantly those operated by Google and Apple. The ministry's officials and Finance Minister Nirmala Sitharaman met last week to discuss rising concerns over loan apps running rampant and the illegal practices adopted by some of the outfits providing loans. Central banker Reserve Bank of India will now make a list of legal apps that are permitted on the stores
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Apple iPhone 14 Pro arrives with an interactive cutout replacing the notch; Zippmat, Daalchini raise funding
Apple yesterday announced the iPhone 14 Pro and iPhone 14 Pro Max smartphones, featuring a pill-shaped cutout that shows useful information and can be used to bring up apps quickly. Apple calls the cutout, Dynamic Island. It can show important alerts, notifications, and activities. It maintains an active state to allow users easier access to controls with a simple tap-and-hold. Apple also released the iPhone 14 and 14 Max, which retain the older notch for the selfie camera
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India and China clear separate needle-free Covid-19 vaccines; Apple's big iPhone event is later today
India and China have cleared separate needle-free Covid vaccines, one a spray in the nose and the other inhaled through the mouth, Associated Press reported yesterday. Regulators in India have authorized Bharat Biotech's nasal version as an option for people who haven't yet been vaccinated. Apple's September iPhone event is later today and its priciest smartphone yet is expected
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Google piloting alternative payments; CCI approves PayU's acquisition of BillDesk; Instagram slapped with €405 mln EU fine
Google has started a "user choice billing" pilot of alternative payment systems in its Play store, in some markets, including India, as pressure mounts on the search giant over the fees it takes for in-app sales by developers. India's Competition Commission has approved PayU's proposed acquisition of payments gateway BillDesk, paving the way for the Prosus-controlled fintech operator to become one of the country's biggest payments processors
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Apple overtakes Android phones in the US, and could gain in other markets too; Amazon said to lag Flipkart in India
For the first time, there are more iPhones in use in the US than Android-based smartphones. Apple has overtaken Android devices to account for more than half of smartphones used in the US. And Amazon is lagging rival Flipkart in India on several important metrics, according to investment firm Sanford C. Bernstein
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Paytm names new independent director, expects breakeven in 12 months; Byju's, after delay, to report financials on September 6
One 97 Communications, one of India's biggest digital payments companies, which operates under the brand name Paytm, has appointed GS Sundararajan, former group director of Shriram group as an independent director on its board, the company told the stock exchanges on Aug.27. Byju's, after 17-month delay is set to report FY21 financials on Sep. 6. And some details may have emerged about Apple's long-rumoured mixed reality headset
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Tinder takes Apple to India's Competition Commission — Report; Omnivore's OmniX Bio picks the second startup
Tinder-owner Match Group has filed an antitrust case against Apple with the competition regulator in India, accusing the iPhone maker of "monopolistic conduct" that forces developers to pay high commissions for in-app purchases. And OmniX Bio, an initiative from VC firm Omnivore to fund early-stage agri-science startups has picked its second venture in Loopworm
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Apple aiming for faster release of new iPhone in India—report; Meta rolls out metaverse accounts
Apple will make and release its latest smartphone, the iPhone 14, in India two months after it comes out in China, narrowing the gap between its main production facility and the small but growing one in India. Meta is rolling out its metaverse accounts and profiles. And Fidelity International has picked up a 5 percent stake in Zomato, the global investment firm told stock exchanges in Mumbai
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Sequoia picks 37 founders, 15 startups for Surge 7; US lawmaker pushing EV industry to kill dependence on China
Sequoia Capital, yesterday, named the next batch of its accelerator programme Surge, in India and Southeast Asia, picking entrepreneurs who are finding opportunities in tackling a range of problems from climate change and agritech to Web3. Many of the founders are women, and several have rich prior experience in their sectors — from finance to aerospace. Some have started straight out of college as well
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Paytm shareholders near unanimous in voting to approve Vijay Shekhar Sharma's reappointment and pay
Shareholders of One97 Communications, which operates the fintech platform Paytm, voted almost unanimously for founder Vijay Shekhar Sharma's reappointment as managing director and CEO for another five years, at the company's annual general meeting last week. Nandan Nilekani's VC firm Fundamentum has raised $227 million for its second fund. And some Tesla drivers tested the 'self-driving' feature on their own children