Teji Mandi: Three things investors should know on October 15, 2020
Teji Mandi: Three things investors should know on October 15, 2020

OnePlus to invest Rs 100 crore to build offline network in India

OnePlus is making an investment of Rs 100 crore to expand its offline retail presence. It will open 3,000 new stores to expand its reach in tier 3 and tier 4 cities in line with its strategy to expand to a much wider user base with its smartphones, smart TV and connected devices.

OnePlus will also open 14 big experience stores in the next six months, taking the overall count to 44 in India.

OnePlus also launched its flagship model, 8T, on Wednesday, having launched OnePlus 8 Pro recently. In the second quarter, OnePlus was the leading brand in India's premium smartphone market with 29% share, a tad ahead of Samsung, with Apple third with 23%.

Cinema halls reopening today after long coronavirus intermission

After nearly seven months of being out of business, cinema halls in many places in India are reopening today.Movie halls have reopened in many countries including the US and Britain.

The reopening in India comes just weeks ahead of the festive season when usually the biggest films of the year are lined up for release.Indian multiplex owners have pegged the shutdown-induced loss to the industry at $1.2 billion, mainly on account of zero ticket sales.

Trump administration considers adding China's Ant Group to trade blacklist

The U.S. State Department has submitted a proposal for the Trump administration to add China's Ant Group to a trade blacklist before the financial technology firm is slated to go public.

The move comes as China hardliners in the Trump administration is seeking to send a message to deter U.S. investors from taking part in the initial public offering for Ant Group.The dual listing in Shanghai and Hong Kong could be worth up to a record $35 billion.

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Free Press Journal