Broadcasting
Smartwatches to Grow by 15.1% in 2018 – IDC
International Data Corporation (IDC) has said that Worldwide shipments of wearable devices is on track to grow 15.1% in 2018, totaling 132.9 million units over the course of the year.
The overall market is also expected to deliver a compound annual growth rate (CAGR) of 13.4% over the next five years, culminating in 219.4 million units shipped in 2022, according to the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker.
With cellular connectivity on the rise and shifting consumer preferences, IDC believes smartwatches will account for almost two out of every five wearable devices shipped in 2022.
Jitesh Ubrani, senior research analyst for IDC Mobile Device Trackers, said “Consumers are finally starting to understand and demand the utility of a smartwatch,”
“At present, fitness uses lead by a mile but mobile payments and messaging are starting to catch on.
“The addition of cellular connectivity is also starting to resonate with early adopters and looking ahead the emergence of new use cases like music streaming or additional health sensors will make cellular connectivity pivotal to the success of the smartwatch.”
Ramon T. Llamas, research director for IDC’s Wearables team, said “The appetite for wristbands and basic watches will not go away,”
“Both products will enjoy sustained popularity as users’ first wearable thanks to their simplicity and lower price points and will reach new audiences as part of digital health solutions (wristbands) or for those who want wearable technology but prefer the traditional look and feel of a hybrid watch.”
With watches and wristbands in the spotlight, wearables in other form factors will capture a minority share of the market, although this share will continue to grow during the forecast period.
Earwear and clothing are expected to be the leading underdog categories as smart assistants slowly become indispensible and are incorporated into headphones and as athletes and workers adopt sensor-laden clothing.
Category Highlights shows that over half of all smartwatches in 2017 were shipped by Apple, and while the company will maintain its lead in this category, competing products from the likes of Fitbit, Garmin, and all the Wear OS (previously Android Wear) vendors will gain traction over time.
Another growing sub-segment within this category are smartwatches dedicated to kids, though these will largely be relegated to China.
Smartwatches are also expected to have the highest average selling price and are forecast to account for more than two-thirds of the dollar-value of the entire wearables market.
Basic watches are expected to grow over the course of the forecast with a CAGR of 16.4% as new vendors and fashionable designs drive the category forward.
However, the category does face challenges as vendors have struggled to educate users around the benefits of these devices.
Many consumers still view these devices as timepieces rather than as wearables that are part of a larger ecosystem and as a result IDC expects this category to remain secondary to their smarter counterparts.
The low-cost, commoditized hardware of basic wristbands will continue to hold their place in emerging markets.
These wearables are expected to account for 22% of all wearables shipped in 2022, down from 36% in 2018.
However, the ease of use and overall accessibility of these devices positions them as the perfect starter device for the remainder of the wearables category.
Earwear wearables are forecast to ship 13.3 million units by the end of 2022 with a 48.0% CAGR from 2018–2022.
With the rise of smart voice-enabled assistants, hardware developments from chip makers like Qualcomm, and the growing popularity of wireless headphones, IDC anticipates this form factor to be the most popular outside of wristbands and watches.
Sensor-laden clothing is on track to grow from 2% share in 2017 to 5.3% share by 2022.
To date, this category has been driven by step-counting shoes from the likes of Li-Ning or Under Armour that mostly cater to average consumers.
However, going forward, IDC anticipates other, niche brands to start gaining traction as they target professional athletes or enterprise workers in hazardous environments.
The Others category, devised of lesser known wearables, such as those that can be clipped to different parts of the body or head-worn devices like the Muse headband, or even smart wristbands (ones that can run third party apps), is expected to maintain a very small portion of the overall market.
The non-standard form factors will make these devices a tough sell to the mass market, but their ability to cater to very specific needs may make them a somewhat lucrative business.
Multichoice Nigeria, leading pay TV operator, has again increased the subscriptions for its DStv and GOtv packages by at least 25 per cent .
ohn Ugbe,
Multichoice announced the increase in tarrifs in a message sent to subscribers on Wednesday and said that the new regime will be effective May 1.
The company stated this in the statement signed by John Ugbe, chief executive officer was titled, ‘Price Adjustment on DStv and GOtv Packages.’
The pay-TV firm cited the rise in the cost of business operations as the rationale behind the price increase.
The company said, “We understand the impact this change may have on you – our valued customer, but the rise in the cost of business operations, has led us to make this difficult decision.
“It remains our mission to provide the best entertainment and viewing experience to you and are committed to continue to deliver high-quality content and unparalleled service. So, from Wednesday, 1 May 2024, the price adjustment will take effect.”
With the review, customers on the DStv Premium package will see their monthly subscription fee increase to N37,000 starting from May 1, marking a 25.4% rise from the current N29,500.
Also, price of the Compact+ bouquet has been raised to N25,000 from N19,800 per month, reflecting a 26.2% increment.
DStv has also announced that subscribers on its Compact bouquet will now pay N15,700, up from the current N12,500, representing a 25.6% increase.
Meanwhile, those on the Confam package will face a 25.6% hike as their monthly subscription rises to N9,300 from N7,400.
Under the new pricing structure, viewers on the DStv Yanga bouquet will be charged N5,100 for their monthly subscription, marking a 21.43% increase over the current N4,200 fee.
Multichoice has announced price increases across its GOtv packages. Customers on the Supa Plus package will now pay N15,700, marking a 25.6% rise from the current price of N12,500. Similarly, the Supa bouquet will see its price increase to N9,600 from the current N7,600.
For the GOtv Max subscription, the new price is N7,200, up from N5,700, while the Jolli package will now cost N4,850, compared to the current price of N3,950. Multichoice has also adjusted the price of its lowest GOtv package, Jinja, which will now be N3,300 monthly instead of the current N2,700.
Broadcasting
Alleged $500m wasteful investments: I stand by my words, Heineken Lokpobiri dares Wabote
Sen. Heineken Lokpobiri, Hon Minister Of State For Petroleum Resources have reiterated that he stands by his statement at The Petroleum Club’s quarterly event in Lagos, that NCDMB wasted over $500 million of the industry’s fund in equity investments in private establishments and in loans that are now non-performing.
The minster while reacting to recent media statement by SIMBI Wabote, former executive secretary to the Nigerian Content Monitoring and Development Board, NCDMB, dismissed as blatant lies from the pit of hell, claims that his office requested for increase on NCDMB budget by N30 billion for the office of the Minister.
In a statement signed by the Nneamaka Okafor ,SA Media and Communication, Minister Of State For Petroleum Resources(Oil),the minister noted that ‘’Our position is that he who alleges must prove same. So, if Mr. Wabote has proof of such conversation, he is challenged to provide same.
‘’Secondly the Minister has no aide called Blackson. All his aides were duly selected in line with extant laws and have documents to that effect.
According to the statement ‘’The Minister in his capacity as chairman of the Governing Council stands by his statement at The Petroleum Club’s quarterly event in Lagos, and as journalists I welcome you to visit the places mentioned to verify the allegations for yourself.
‘’Thirdly, the said Atlantic Refinery was supposed to be built in Mr Wabote’s home town, he should show Nigerians where that refinery is.
‘’Fourthly, the Brass Fertilizer and Petrochemical company was also paid for, you are welcomed to also visit the site to verify the facts for yourself.
The statement noted that Investigations are ongoing and the truth will surely come to light and monies belonging to the generality of Nigerians will be recovered for Nigerians.
‘’Let me add that these revelations are not new, they were first made during an investigative hearing of the House of representative committee on local content. Again the records are there and you are welcome to verify these facts.
‘’The Minister has never been part of any budgeting process of any parastatal under the Ministry, you are welcomed to visit these agencies to verify for yourself.
‘’Finally, the Minister’s office is run with a budget superintended by the permanent secretary and so one will wonder, how the Minister will ask another entity to make provisions for the budget of his Office. The Minister has an impeccable record from his time as Minister of Agric and will continue to stand for the truth.
The Minister and Indeed the Chairman of the Governing Council of the NCDMB will not abdicate his responsibility to please anyone. He has a responsibility to ensure that, that which belongs to Nigerians is judiciously used for Nigerians
‘’I have had course to read Mr Wabote’s release and every one can see that he is still nursing the wounds of being replaced even after spending seven years at the Board. At best, this is a clear case of when you fight corruption, corruption will fight back.
It would be recalled that the Minister at at an event in vowed to recoup alleged investments worth over $500m made by the Nigerian Content Monitoring and Development Board (NCDMB).
However, The erstwhile Executive Secretary of the NCDMB, Engr.Simbi Wabote had earlier debunked the Minister’s statement describing it as reckless.
Wabote challenged the Minister to visit the sites of the projects the agency invested in while accusing the Minister of playing politics.
“The HMSPR-Oil is implored to visit the construction sites to avail himself of facts on ground. He should also check the MPR archives of the strategic plan to diversify oil and gas development clusters in the Niger Delta using Bonny Island, Brass Island, Onne, Ogidigben, Ibom, etc. Perhaps, this will cure his aversion to any developmental initiative in Brass Island and the Niger Delta in general.” Wabote said.
Broadcasting
Techy Accountants in partnership with ACCA Host AccounTech Summit to Empower Finance Professionals
The AccounTech Summit, hosted by The Techy Accountant in partnership with the Association of Chartered Certified Accountants (ACCA), is a groundbreaking event designed to navigate the evolving landscape of the finance industry in the digital era.
Recognizing the critical need for finance professionals to adapt to technological advancements and emerging trends, this summit is a driving force for innovation, transformation, and progress.
The event is set to take place as follows:
Date: August 15th, 2024,
Location: Radisson Blu Anchorage Hotel in Lagos, Victoria Island, Nigeria.
Time: 9:00 A.M
The summit aims to celebrate achievements in the finance sector, support entrepreneurship ventures, and enlighten participants on industry challenges and opportunities. With a focus on bridging the employability gap and promoting high-quality skill development in finance, the summit aims to address the evolving landscape of the industry in the digital age.
Over the past six years, The Techy Accountant has graduated over 1000 finance professionals and trained more than 5000 individuals worldwide.
Event Highlights
The one-day event will bring together over 200 attendees, including finance professionals, entrepreneurs, policymakers, academics, and Techies.
Attendees can expect a day of immersive learning and collaboration, culminating in an award and grant ceremony. Event Highlights include keynote sessions, interactive workshops, panel discussions, and networking opportunities, all centred around the theme “Emerging Tech in Accounting & Finance – A Game Changer.”
Commenting on the summit, Mrs. Toyin Olufon, Founder of The Techy Accountant stated, “We believe in equipping finance professionals with the skills needed to thrive in a rapidly changing industry”.
Commenting on the collaboration, Mopelola Jatto, CFA, Regional Head, ACCA Nigeria remarked, “Partnering with The Techy Accountant underscores our commitment to fostering innovation and driving excellence in the finance profession. Together, we aim to equip professionals with the skills and knowledge required to thrive in the digital age.”
TO REGISTER, VISIT: https://thetechyaccountant.org/event/the-techy-accountants-account-tech-summit-2024
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