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Lenovo Sales in Q3 2020 Surge by 8.3%, HP Sales Up by only 0.7%

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Lenovo Sold 18.3 million PC to Top Other Brands in Q3 2020

Lenovo was the top PC brand in Q3 with a total of 18.3 million unit shipments. According to the research data analyzed and published by StockApps, compared to Q3 2019 when its unit shipments totaled 16.9 million, there was an increase of 8.3%.

Based on a study by IDC, Lenovo’s stellar performance coincided with an overall increase of 14.6% in global PC shipments. Gartner’s estimate of growth in global shipments is more conservative, at 3.6%, but does not include Chromebook sales.

HP Leads US Market with 30.8% Market Share; Lenovo in Third Spot

Lenovo’s market share increased from 24.5% to 25.7% between Q3 2019 and Q3 2020. On the other hand, HP’s market share contracted from 22.3% to 21.6% in the same duration.

In terms of global shipments, HP took second place with 15.4 million shipments, up from 15.3 million in Q3 2019, a 0.7% increase year-over-year (YoY). Part of the reason for HP’s drop was a 30% YoY decline in desktop shipments. Together, HP and Lenovo accounted for 47.3% of the PC market share.

On the other hand, in the US market, HP was the top brand with 5.1 million unit shipments and a 30.8% market share during Q3 2020. Lenovo came in third, behind Dell, with 2.5 million unit shipments and a 15.3% market share.

Acer showed the highest growth during Q3 2020, with an increase of 29.5% YoY in global shipments. Dell was the poorest performer of the top brands, with a 4.6% decline YoY. According to IDC, total unit shipments during the quarter were 81.3 million, while according to Gartner, the total was 71.4 million. Chromebook shipments, which made the difference between the two reports, grew by 90% YoY.

Lastly, according to a report by Statista, the global PC industry shrunk for seven consecutive years between 2012 and 2018. It went from 365 million unit shipments in 2011 to 259 million in 2018. The seven-year slump came to an end in 2019 when worldwide shipments grew by 0.6% according to Gartner and 2.7% according to IDC.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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5G Nationwide Deployment is 97 Percent Ready – NCC

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5G - Investors King

The Nigerian Communications Commission (NCC) has said that the commission is 97 percent ready for the deployment and implementation of 5G in the country.

NCC Executive Vice Chairman, Professor Umar Danbatta confirmed the commission’s readiness on Thursday, October 14, at the annual African Tech Alliance Forum (AFRITECH) 2021, held in Lagos with the theme: “Embracing Changes and Digital Transformation in the New Normal.”

Revealing that the NCC is working with operators to implement a number of initiatives to ensure network expansion, he also noted that this paradigm shift in communication has led to a significant increase in network connectivity requirements as a result of an unprecedented upsurge in internet traffic, occasioned by the use of a plethora of web applications.

Danbatta further announced that there is also a plan to auction spectrum in 3.5 gigahertz (Ghz) band to operators for the deployment of 5G network in Nigeria.

He said; “Already, we are set for the auction of some spectrum slots in 3.5GHz band. The other day I was at the National assembly, I informed the senate that we were 95 percent ready for 5G. Today as we speak, I am delighted to tell you that we are already at 97 percent completion.

“Consistent with our mandate as enshrined in the Nigerian Communications Act 2003 (NCA-2003) and other guiding legislations, we have been working to ensure the penetration of broadband services in line with Federal Government’s targets, as contained in Nigerian National Broadband Plan (NNBP), 2020 to 2025.

“The Committee set up to auction the Spectrum has already developed an Information Memorandum (IM) which is already published for inputs and comments from all industry stakeholders. Prior to this, a 5G deployment plan was developed and we have since secured Federal Government’s approval.”

He stated that the trend has made remote work, virtual meetings, virtual studios, and virtual healthcare delivery, among others, the new normal.

The NCC boss was represented at the event by the Director, Spectrum Administration at the commission, Engineer Oluwatoyin Asaju and the commission’s Director of Public Affairs, Dr. Ikechukwu Adinde.

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Fund Raising

Flutterwave Eyes $3 Billion Valuation Ahead of Another Fundraising

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Flutterwave - Investors King

Flutterwave, one of Nigeria’s tech unicorns, is presently in talks to raise an additional fund at a valuation of $3 billion or even more, according to a Bloomberg post.

The figure would triple Flutterwave’s last valuation of $1 billion.

Operating from both Lagos, Nigeria and San Francisco, US, Flutterwave held discussions with potential investors recently, the people familiar with the ongoing discussions stated. They explained that terms of funding are yet to be finalised and that it is likely to change.

The talks were led by the company Chief Executive Officer Olugbenga Agboola. In March, the company announced it has hits unicorn status after raising $170 million in a round led by Avenir Growth Capital and Tiger Global Management LLC. Other investors were DST Global, Greycroft, Insight Partners and Salesforce Ventures.

In the same March, the company announced a partnership with Paypal Inc. to enable its global customers to pay African merchants using Flutterwave’s platform.

Founded in 2016, Flutterwave facilitates cross-border transactions across Africa for companies including Facebook Inc., Uber Technologies Inc. and Booking.com. As of March, the startup said it had processed more than 140 million transactions worth over $9 billion in aggregate and that its revenue had risen at a compound annual growth rate of 225 percent between 2018 and 2020.

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Nigeria’s Neobank Sparkle Raises $3.1 Million

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Sparkle - Investors King

One of Nigeria’s leading digital banks, Sparkle has raised $3.1 million in a seed round led by Leadway Assurance, Trium Network and other high net worth individuals to scale operations, according to the startup’s CEO, Uzoma Dozie.

The new fundraising was after the CEO raised $2 million in a pre-seed round from friends and family within the past year. Sparkle has now raised a combined $5 million.

Speaking on the startup, the CEO said Sparkle is different in the sense that it combines financial services with lifestyle to evolve with Nigeria’s need digital lifestyle.

He said “We’re quite different in a way because instead of separating financial services from lifestyle, we’ve tried to bring them together, especially as we’ve seen that more people are beginning to lead more digitally-led lives,” CEO Uzoma Dozie stated in an interview with Techcrunch.

It means that we don’t see our customers from accounts, payments, deposits or credit perspectives, but from how can we help them do what they want to do at any particular time.”

Unlike other digital banks operating in Nigeria, Sparkle is serving both individuals and businesses on its platform. While digital banks like Kuda, VBank, Carbon, etc are offering tailored services to only individuals, Brass and Prospa are the other two serving businesses and individuals like Sparkle.

As a small business, I’m not carrying my bank account on my mobile. I’m carrying my business. So we are bringing everything about your business into one place so that you can do business wherever you are,” Dozie said.

For individuals, we’re bringing everything into one place so that you can do what you want to do quite easily wherever you are. But the bottom line is that we’re providing you with the information that you need to take spontaneous decisions.

With its microfinance bank license, the digital bank has partnered with Visa to ensure customers can make in-person and online payments. Other partnerships are with companies like Network International and PwC Nigeria.

Since launching in 2020, Sparkle has opened accounts for over 40,000 individual users and 2,000 businesses. The digital bank is however charging individual customers small fees to keep their accounts operational and plan to charge businesses for most features except taxation services.

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