Akshata Malhotra's List: Contextual Indian Trends

• India has 150 million mobile internet users
• Narayanan highlighted that the mobile ecosystem is undergoing a major change. The number of mobile web users is increasing at a faster pace. He estimated that India has about 150 million mobile web users as of now. Sharing the key findings of a survey conducted on Google's mobile ad network, AdMob, in India, he pointed out that 78 per cent mobile web users were in the age range of 18-34 years, 75 per cent mobile internet users were males, and 23 per cent of the mobile web users accessed internet via smartphones. Nine out of 10 mobile internet users were graduates.
• "We expect that 15-30 per cent of the traffic on websites will be routed via mobile devices in the next 18 months."
• Narayanan added that there will be more internet users on mobile than users who access internet on desktop computers by 2013, according to the forecast of Morgan Stanley.
• "I believe that this transition and adoption of mobile devices for surfing the net will happen faster in India."
• "We really need to figure out how we can leverage this app economy. App development is a completely new phenomenon,"
• Parijat Chakraborty, senior vice-president, technology and B2B, TNS India, also said that consumption of apps is expected to increase in India. In a session titled 'Integration of apps in mobile strategy', he revealed a few facts about apps from a TNS study called 'Mobile Life'. He said that only 3 per cent of the respondents studied, downloaded applications on their mobile devices. However, more than 35 per cent showed their interest in downloading apps on mobile devices.
• • Mobile Internet Usage
• • Important iNSIGHT
• Chakraborty believes that the key reasons which will lead to explosion of apps in India are -- improved user interface of apps, affordable data plans and urge of consumers to stay updated. A combined effort to promote apps by all players of the mobile ecosystem will also support the rise of apps consumption in India.
• In his keynote address, Narayanan also shared a few mobile trends discovered through the study conducted by Google. He said that consumers are using mobile devices for search, social connectivity and commerce. He added that 50 per cent of smartphone users start their mobile web usage through 'internet search'. Eighty per cent smartphone users 'search mobile web for information' at least once daily on their mobiles. 73 per cent users surveyed use social networking facility through mobiles. Fifty six per cent of smartphone users use their phones for shopping. Forty nine per cent of the surveyed users changed their in-store buying decision based on information extracted via surfing the internet on mobile devices. Sixty three per cent respondents are expected to use their smartphones for shopping in the next 12 months.
• As per a recent estimate, mobile apps is worth $2bn business in India
• Reliance has already made its move with an arrangement with Nokia. Many operators will soon follow. App purchases will be and should be tied up to mobile bills very soon. Android is another dimension which will drive the app market. With Nokia’s partnership Microsoft has the potential to drive some sales. Apple for the most part will be absent on the Indian app radar.
   A recent survey done by Nokia has some interesting trends in the apps. Forget the fact that only 501 people are surveyed.
   
  1. 16% of those surveyed in west download finance apps (the highest of any region),
   
  2. 23% south Indians mostly use gaming apps (again, higher than any other region) and
   
  3. 29% of people from the North-East download educational apps.
   
  4. Nearly 30% of south Indians surveyed use the apps on their smartphone during commutes, while 32% use them at home.
   
  5. Over 40% of those surveyed in the North download music apps-more than in any other Indian region.
   
  6. Around 25% of people in the North-East use almost all the apps they download on their smartphone, while their neighbours in the east, are the highest users of social networking apps (39%).

• Interesting facts about Indian Mobile Internet Usage:

  • 75% of the mobile web users are from the age group of 20-30 years.
   
  • Only 5% of the mobile internet users are aged more over 35 years.
   
  • 89% of the mobile web users are male.
   
  • Nokia comprises 54% of handsets used for web surfing.
   
  • Samsung contributes 18% of handsets used for web browsing.
   
  • Mobile content constitutes a major chunk of 39% for using mobile internet.
   
  • Entertainment and Lifestyle forms 29% of mobile internet surfing requirements.
• Search engines are the most popular sites in India<br><br/>Search Engines are the most visited category of websites in India, representing for 19.59% of all Indian Internet visits during the week ending 01/01/11. Social networks and Forums rank second, representing 12.57% of India Internet visits. Banking and Financial Institutions is the 10th most visited category of websites.<br><br/><br><br/>Most Popular Sub-Industries across all industry categories ranked by Visits Share for the week ending 1 January 2011<br><br/><br><br/><table cellpadding="0" style="border-collapse: collapse; mso-padding-alt: 0in 0in 0in 0in; mso-yfti-tbllook: 1184;" cellspacing="0" class="MsoNormalTable" border="0"><tbody><br/><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"> <td width="49" style="border: solid windowtext 1.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 41.4pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><b><span style="font-family: Arial, sans-serif;">Rank</span></b><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="204" style="border-left: none; border: solid windowtext 1.0pt; mso-border-left-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 171.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><b><span style="font-family: Arial, sans-serif;">Sub-Industries</span></b><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="97" style="border-left: none; border: solid windowtext 1.0pt; mso-border-left-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 81.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><b><span style="font-family: Arial, sans-serif;">Visits Share</span></b><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> </tr><br/><tr style="mso-yfti-irow: 1;"> <td width="49" style="border-top: none; border: solid windowtext 1.0pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 41.4pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">1</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="204" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 171.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><span style="font-family: Arial, sans-serif;">Search Engines</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="97" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 81.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">19.59%</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> </tr><br/><tr style="mso-yfti-irow: 2;"> <td width="49" style="border-top: none; border: solid windowtext 1.0pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 41.4pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">2</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="204" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 171.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><span style="font-family: Arial, sans-serif;">Social Networking and Forums</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="97" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 81.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">12.97%</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> </tr><br/><tr style="mso-yfti-irow: 3;"> <td width="49" style="border-top: none; border: solid windowtext 1.0pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 41.4pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">3</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="204" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 171.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><span style="font-family: Arial, sans-serif;">Email Services</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="97" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 81.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">8.11%</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> </tr><br/><tr style="mso-yfti-irow: 4;"> <td width="49" style="border-top: none; border: solid windowtext 1.0pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 41.4pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">4</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="204" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 171.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><span style="font-family: Arial, sans-serif;">Portal Frontpages</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="97" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 81.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">6.56%</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> </tr><br/><tr style="mso-yfti-irow: 5;"> <td width="49" style="border-top: none; border: solid windowtext 1.0pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 41.4pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">5</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="204" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 171.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><span style="font-family: Arial, sans-serif;">Multimedia</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="97" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 81.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">3.76%</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> </tr><br/><tr style="mso-yfti-irow: 6;"> <td width="49" style="border-top: none; border: solid windowtext 1.0pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 41.4pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">6</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="204" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 171.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><span style="font-family: Arial, sans-serif;">Software</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="97" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 81.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">2.44%</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> </tr><br/><tr style="mso-yfti-irow: 7;"> <td width="49" style="border-top: none; border: solid windowtext 1.0pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 41.4pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">7</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="204" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 171.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><span style="font-family: Arial, sans-serif;">Games</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="97" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 81.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">2.04%</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> </tr><br/><tr style="mso-yfti-irow: 8;"> <td width="49" style="border-top: none; border: solid windowtext 1.0pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 41.4pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">8</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="204" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 171.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><span style="font-family: Arial, sans-serif;">Telecommunications</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="97" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 81.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">1.95%</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> </tr><br/><tr style="mso-yfti-irow: 9;"> <td width="49" style="border-top: none; border: solid windowtext 1.0pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 41.4pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">9</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="204" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 171.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><span style="font-family: Arial, sans-serif;">Reference and Education</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="97" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 81.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">1.90%</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> </tr><br/><tr style="mso-yfti-irow: 10; mso-yfti-lastrow: yes;"> <td width="49" style="border-top: none; border: solid windowtext 1.0pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 41.4pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">10</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="204" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 171.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;" class="MsoNormal"><span style="font-family: Arial, sans-serif;">Banks and Financial Institutions</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> <td width="97" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-left-alt: inset #D4D0C8 .75pt; mso-border-top-alt: inset #D4D0C8 .75pt; padding: 0in 5.4pt 0in 5.4pt; width: 81.0pt;" valign="top"><div style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: center;" class="MsoNormal" align="center"><span style="font-family: Arial, sans-serif;">1.89%</span><span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><o:p></o:p></span></div></td> </tr><br/></tbody></table>

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