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Snapchat hits 500 mn monthly active users; India sees 100% user growth

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  Popular social media platform Snapchat has reached over 500 million monthly active users, with roughly 40 per cent of its community located outside of North America and Europe. In India, Snapchat has seen over 100 per cent (year-over-year) growth in daily active users (DAUs) in each of the last five quarters, the company announced during its third Snap Partner Summit virtually late on Thursday. Snap also announced new features, latest updates and Augmented Reality (AR) experiences, like new AR tools and camera experiences, the next generation of Spectacles and launched 'Story Studio' -- a new standalone app offering powerful editing tools to creators on mobile. "Built with Creators in mind, Story Studio will offer insights into trends happening on Snapchat. It is launching later this year on iOS and will be available for free," the company said in a statement. Read More

Xiaomi plans to launch more than 10 5G phones in 2020: CEO Lei Jun

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Chinese smartphone maker Xiaomi Corp plans to launch more than 10 5G phones in 2020, Chief Executive Officer Lei Jun (pictured) said on Sunday, speaking at the World Internet conference in the eastern Chinese town of Wuzhen. Lei’s remarks come as the company faces intense competition in its home market from rival Huawei Technologies. Last month Xiaomi launched the Xiaomi Mi 9 Pro, the company’s first 5G-enabled phone for the domestic market. According to Lei, demand for the phone exceeded the company’s expectations and led to supply chain issues. The device’s reception has prompted Xiaomi to launch 5G models for the high, middle, and low-end price tiers next year. “ People in the industry fear that next year 4G models won't sell, this is a step you have no choice but to take”Lei said. “So we hope that operators can speed up their expansion of 5G base stations.” Xiaomi’s share price has fallen steadily this past year as China’s smartphone market grows more competitiv