Latest Business News Updates: Chinese Brands Dominate Smartphone Market, Byju’s Seeks Urgent Hearing, Tata Technologies Q1 PAT Falls 15%

Chinese brands continue to dominate the Indian smartphone market as Xiaomi overtakes South Korea’s Samsung to lead with an 18% share in the June quarter, according to Canalys. This shift in market leadership highlights the growing influence of Chinese manufacturers in India’s tech landscape.

In other business news, OpenAI’s GPT-4o mini model is making waves as it competes with Gemini Flash and Claude Haiku. The development of this smaller model aims to provide pricing competitiveness and flexibility for developers, showcasing the ongoing advancements in artificial intelligence technology.

Meanwhile, Byju’s, a prominent ed-tech company, has moved to the NCLAT seeking an urgent hearing against NCLT’s insolvency order. The company’s financial troubles began two years ago when it missed reporting deadlines and fell short of revenue projections, leading to a challenging period for the popular educational platform.

Additionally, Tata Technologies has reported a 15% decrease in its Q1 PAT, falling to ₹162.03 crore compared to ₹191.53 crore in the same quarter last fiscal year. This decline in profit highlights the challenges faced by businesses in the current economic climate.

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