China’s largest computer maker, Lenovo has launched its own tablet computer at home as it tries to compete for a share of an increasingly crowded market dominated by Apple's iPad. The LePad - powered by Google's Android software - was launched in China on Monday at a Chinese-media only event. Lenovo will begin selling LePad directly to Chinese consumers this week through its own retail stores and it will put it on sale outside China by June. The firm said in a statement that it was aggressively pursuing the mobile Internet device business and established a special division - the Mobile Internet and Digital Home Business Group - this year to better compete. "The LePad is the first major launch since the business group's founding, we are confident in it and will continue to enrich its product line with better performing products and a richer selection of styles," Lenovo said. In addition to the iPad, Lenovo's new tablet will compete against gadgets from other major electronics companies such as Dell, Samsung Electronics and BlackBerry-maker Research In Motion. LePad - which was first unveiled in January at the Consumer Electronics Show in Las Vegas - has a 10.1-inch colour screen and connects to the Internet using WiFi or 3G telecom services. In China, models equipped with WiFi wireless technology will carry a recommended price tag of 3,499 yuan ($533) for the 16-gigabyte version. The pre-orders for LePad have began on March 16. Lenovo, which bought IBM's PC business in 2004 for $1.25 billion, had roughly 27 percent of its home market last year and was ranked fourth in the world with a global share of about eight percent, according to data from IDC intelligence firm.
Tuesday, March 29, 2011
Online marketplace operator EBay has said that it will pay $2.4 billion for GSI Commerce, which operates websites for retailers like Toys R Us and Bath & Body Works. EBay Inc., which runs its namesake site where users buy and sell items through auctions and fixed-price "Buy it Now" formats as well as online payments service PayPal, hopes the acquisition will bolster its ability to connect buyers and sellers around the world. GSI runs websites, packs and ships products and offers interactive marketing services to a variety of retailers. It has long-term contracts with 180 retailers, including Radio Shack, Ace Hardware and American Eagle Outfitters. EBay has been working on improving its eBay.com website by doing things such as revamping its home page, cutting upfront listing fees it charges sellers and bolstering its search engine. In an interview, eBay CEO John Donahoe said the GSI deal fits in with his company's efforts to help retailers grow. Lots of businesses need help doing things like generating demand for products, running their websites, delivering goods to customers, and growing their mobile sales, Donahoe said. GSI does this for large companies, and eBay and PayPal do this for small- and medium-sized companies, he said, which makes the acquisition a natural fit. The purchase might also help eBay compete with Seattle-based Amazon, which, in addition to selling many items directly, allows merchants to sell their products through its site and offers product fulfillment services, too. EBay is already involved with GSI through PayPal, which was integrated with GSI customers' sites last year. San Jose-based eBay said it will pay $29.25 per share. The $2.4 billion total is the second-largest amount eBay has paid for another company so far. In 2005 eBay paid at least $2.6 billion for Internet calling and messaging service Skype, which it has since sold.
Monday, March 28, 2011
Paul Baran, whose work with packaging data in the 1960s has been credited with playing a role in the later development of the Internet, has died at age 84. Baran died at his home in Palo Alto, Calif. Saturday night of complications from lung cancer, said his son David Baran. Paul Baran is best known for the idea of "packet-switching," in which data is bundled into small packages and sent through a network. Baran outlined the concept while working on Cold War issues for the RAND Corporation in Santa Monica in 1963 and 1964. In 1969 the technology became a concept the Department of Defense used in creating the Arpanet, the precursor to the Internet, numerous reports on the subject said. The idea had been so advanced at its development that private companies had passed on it. "Paul wasn't afraid to go in directions counter to what everyone else thought was the right or only thing to do," Vinton Cerf, a vice president at Google and a colleague and longtime friend of Baran, told the New York Times, which first reported Baran's death. President George W. Bush presented him with the National Medal of Technology and Innovation in 2008. A year earlier, he was inducted into the Inventors Hall of Fame in Akron, Ohio, joining the likes of Thomas Edison. "I think that we give a lot of attention to music and football, why not those who come up with ideas that we use in a different way," he said. Baran's method of moving data was designed to still function after a nuclear attack. Because there were no centralized switches, and bundles of data could simply find a new route if one weren't working, the system could still work even if much of it were destroyed, the RAND Corporation said. He called the process "message blocks." Donald Davies of Great Britain independently developed a similar system and his term, "packet-switching," would eventually be adopted, RAND said. It would be decades before the social and commercial possibilities of the technology would become clear, and Baran would miss out on a lot of the money and glory that came with it, but he was happy to live to see it happen, his son said. "He was a man of infinite patience," David Baran said. The son said his father recently shared a paper that he wrote in 1966, speculating on the future of the computer networks he was working on. "It spelled out this idea that by the year 2000 that people would be using online networks for shopping and news," he said. "It was an absolute lunatic fringe idea." Paul Baran was born in Grodno, Poland in 1926 and his family moved to the United States when he was 2 years old. Baran received many accolades late in life for his pioneering work, but he was anxious to widely distribute the credit. "The process of technological developments is like building a cathedral," he told the Times in a 1990 interview. "Over the course of several hundred years, new people come along and each lays down a block on top of the old foundations, each saying, I built a cathedral. If you are not careful you can con yourself into believing that you did the most important part." Baran's wife since 1955 Evelyn died in 2007. He is survived by his son and three grandchildren.According to a report by Wall Street Journal, Google is joining Citigroup and Mastercard to set up a mobile payment system that will turn Android phones into a kind of electronic wallet. The new technology, which is in its early stages, will allow consumers to wave their Android phones in front of a small reader at the checkout counter to make payments. The planned payment system would allow Google to offer retailers more data about their customers and help them target advertisements and discount offers to mobile device users near their stores. However, Google is not expected to get a cut of the transaction fees. Initially, holders of Citigroup-issued debit and credit cards would be allowed to pay for purchases by activating a mobile payment application developed for one current model and many coming models of Android phones.
Sunday, March 27, 2011
Nokia has said it will continue to sell smartphones using its legacy Symbian software for a long time after its first phones using Microsoft's Windows go on sale. Symbian is due to be replaced by Microsoft's Windows Phone over the coming two years under a plan announced in February, raising concerns Nokia could drop Symbian phones - which have lost market share, but generate strong profits - too early. "We will be selling Symbian-devices long after Windows Phone devices from Nokia have already started to appear," said Purnima Kochikar, head of developer relations at Nokia. Nokia has promised to introduce its first models using Windows Phone platform at the latest in 2012. Nokia didn't specify how long it would continue to offer Symbian. Earlier this week research firm Ovum forecast that Symbian phones will continue on some markets into 2016. Kochikar said coming Symbian models would focus on strong integration of services, as well as have faster processors than so far in the Symbian product line. "Over the past weeks we have been evaluating our Symbian roadmap and now feel confident we will have a strong portfolio of new products during our transition period - i.e. 2011 and 2012," Kochikar said. "They will also include improvements in hardware performance such as GHz+ processing capabilities and faster graphics speeds," she said. Nokia's current top models, the N8 and the E7, use 680 MHz processors, while rivals top models already use 1 GHz and faster processors.
Saturday, March 26, 2011
Dell has launched the Inspiron M5030, what it claims to be the first Spanish-language laptop sold within the U.S.
The Inspiron M5030 doesn't just have a Spanish-language operating system, as anyone can configure Windows or the Apple OS to operate in Spanish. The $499 notebook also contains a Spanish-language keyboard, designed to give Spanish speakers a more familiar experience.
Dell said it was targeting the 50.5 million Hispanics who live in the U.S.
However, the M5030 will launch in a limited release at BrandsMart USA shops in both Florida and Georgia.
"The launch of the laptop stems from Dell's commitment to listen to customers," said Gerald Zapata of Dell. "By listening, we realized there was a need to develop a laptop that was 100 percent designed for Spanish speakers, affordable and available in the United States. The concept was to introduce a laptop that meets all of these needs and enables Spanish-speaking families to better communicate and keep in touch with relatives, share information and experience the ultimate in technology."
Aside from the cosmetic changes to the OS and the keyboard interface, the new M5030 looks nearly identical to the existing M5030, a Dell laptop which is only sold in stores. The Spanish-language version includes an Athlon II P360 prcoessor, a 1366-by-768 15.6-inch widescreen display, 4 Gbytes of memory, DVD burner, 3-in-1 card reader, 802.11g/n, all running under Windows 7 Home Premium.
The Inspiron M5030 doesn't just have a Spanish-language operating system, as anyone can configure Windows or the Apple OS to operate in Spanish. The $499 notebook also contains a Spanish-language keyboard, designed to give Spanish speakers a more familiar experience.
Dell said it was targeting the 50.5 million Hispanics who live in the U.S.
However, the M5030 will launch in a limited release at BrandsMart USA shops in both Florida and Georgia.
"The launch of the laptop stems from Dell's commitment to listen to customers," said Gerald Zapata of Dell. "By listening, we realized there was a need to develop a laptop that was 100 percent designed for Spanish speakers, affordable and available in the United States. The concept was to introduce a laptop that meets all of these needs and enables Spanish-speaking families to better communicate and keep in touch with relatives, share information and experience the ultimate in technology."
Aside from the cosmetic changes to the OS and the keyboard interface, the new M5030 looks nearly identical to the existing M5030, a Dell laptop which is only sold in stores. The Spanish-language version includes an Athlon II P360 prcoessor, a 1366-by-768 15.6-inch widescreen display, 4 Gbytes of memory, DVD burner, 3-in-1 card reader, 802.11g/n, all running under Windows 7 Home Premium.
Friday, March 25, 2011
AsusTek Computer Inc. has unveiled a sleek tablet computer, after the Taiwanese firm saw the sales of its once popular line of mini-laptops stall following the launch of Apple's hit iPad.AsusTek says the EEE Pad Transformer, which runs on the Android 3.0 operating system, distinguishes itself with an optional keyboard that is superior to docking options for other tablets because of its light weight and flexibility.
Its 10.1-inch screen with a front and rear camera can be detached from the keyboard to allow users on the move quick Web browsing and film viewing. Plugging it to the keyboard dock, the device can then be used as a full-fledged laptop.
"In our own pursuit of perfection, we offer users more options," said AsusTek CEO Jerry Shen. "They can get a full range of functions including 10-finger touch, Flash supported video viewing, e-book reading, and a physical keyboard so they don't have to deal with any inconveniences."
The EEE Pad Transformer, which became available for pre-order in Taiwan on Friday, goes on sale in the U.K. on March 30, to be followed by U.S. sales.
In Taiwan, the 16 GB version without the keyboard sells for 14,900 New Taiwan dollars ($500), while the keyboard version costs NT$17,900 ($600). The company did not provide prices for other markets.
Another Asus tablet, the 12-inch e-Slate powered by the Microsoft Windows operating system, went on sale in January, while two additional Asus tablet models will go on sale soon. Shen said he expected total sales of the four models to reach two million units in 2011.
Taiwan's Acer Inc., the world's third largest computer vendor, has already unveiled four tablet models, as well as a 4.8-inch smartphone that doubles as a tablet. The company says all will be on sale next month.
Shen acknowledged Apple Inc.'s current dominance in the rapidly expanding tablet computer market, but predicted that its market share would fall to 50 percent by 2012, as devices run on Android and Microsoft systems pick up steam.
Asus pioneered netbooks - mini-laptops - to great fanfare in 2007. Once seen as a key to the company's growth, sales remained flat in 2010, following the iPad's appearance in the marketplace.
Thursday, March 24, 2011
T-Mobile's new 4G mobile broadband laptop stick, the T-Mobile Jet 2.0, can now be ordered for free, with a 2-year contract for mobile broadband service. The device, which plugs into a USB port on your PC or Mac laptop, is meant to deliver high-speed HSPA+ 4G Internet access.
Most importantly, T-Mobile has continued to demonstrate its commitment to growing its 4G network, with the announcement of doubling the network's theoretical download speed to 42 Mbps and the introduction of new 4G smartphones, the T-Mobile G2x and Sidekick 4G. In addition to the Jet 2.0 laptop stick, T-Mobile is also launching other 4G mobile broadband devices later this spring: the T-Mobile Rocket 3.0 (first device with 42 Mbps capability) and a prepaid T-Mobile Rocket 4G.
The T-Mobile Jet 2.0 is available now. It features Wi-Fi connection management and a microSD memory card slot. So, you can use the laptop stick for external storage as well as wireless Internet access.
Most importantly, T-Mobile has continued to demonstrate its commitment to growing its 4G network, with the announcement of doubling the network's theoretical download speed to 42 Mbps and the introduction of new 4G smartphones, the T-Mobile G2x and Sidekick 4G. In addition to the Jet 2.0 laptop stick, T-Mobile is also launching other 4G mobile broadband devices later this spring: the T-Mobile Rocket 3.0 (first device with 42 Mbps capability) and a prepaid T-Mobile Rocket 4G.
The T-Mobile Jet 2.0 is available now. It features Wi-Fi connection management and a microSD memory card slot. So, you can use the laptop stick for external storage as well as wireless Internet access.
South African mobile phone giant, MTN, has joined with an insurance company to launch a program in Ghana that will allow subscribers to pay for life insurance through their mobile phones.
Phone banking has taken off in Africa, where the impoverished majority can't afford the costs of traditional banks, including account fees and bus fares to get to town from villages to visit the banks.
More Ghanaians have mobile money accounts than bank accounts, said Jeremy Leach, a divisional director of Hollard Insurance Group. South Africa-based mobile phone giant The MTN Group is partnering with the group to increase Ghanaians' access to life insurance, he said.
Mobile banking users send and receive money through their cell phones.
Leach said Hollard approached MTN to establish a plan where Ghanaians can pay premiums as low as one cedi ($0.65) per month on their mobile phones through MTN's mobile banking system.
"Ghana has a fast-growing market and is one of the fastest growing countries in Africa," Leach said. "One of the things that was pleasing when we got there was that we thought we'd have to do a lot of consumer education, but what we found was that the national health insurance had been rolled out so there was increased awareness."
Ghana has 9 million MTN mobile subscribers, 2 million of whom have joined the mobile banking program launched in July 2009. Mobile banking customers can buy the insurance using menus on their cell phones. They need a valid mobile money account to sign the application form, but medical or other documents are not required.
The program is only in the pilot stages limited to a number of service centers, Leach said, adding that the full rollout will occur within months.
Pieter Verkade, MTN's mobile money executive, said: "What we believe is it's a whole new area for us, as well as insurance companies. We are bringing these kinds of products to a market where they before would not have access to these projects."
Verkade said MTN is looking to expand its mobile banking services in regions such as West Africa, where there is a lot of demand. Already, MTN offers Rwandans the ability to purchase prepaid electricity through their cell phones.
"It's certainly doing a bit to improve the whole economy's income and the way people can interact by providing them financial tools they didn't have before," Verkade said. "In that respect, it's some kind of a revolution."
Phone banking has taken off in Africa, where the impoverished majority can't afford the costs of traditional banks, including account fees and bus fares to get to town from villages to visit the banks.
More Ghanaians have mobile money accounts than bank accounts, said Jeremy Leach, a divisional director of Hollard Insurance Group. South Africa-based mobile phone giant The MTN Group is partnering with the group to increase Ghanaians' access to life insurance, he said.
Mobile banking users send and receive money through their cell phones.
Leach said Hollard approached MTN to establish a plan where Ghanaians can pay premiums as low as one cedi ($0.65) per month on their mobile phones through MTN's mobile banking system.
"Ghana has a fast-growing market and is one of the fastest growing countries in Africa," Leach said. "One of the things that was pleasing when we got there was that we thought we'd have to do a lot of consumer education, but what we found was that the national health insurance had been rolled out so there was increased awareness."
Ghana has 9 million MTN mobile subscribers, 2 million of whom have joined the mobile banking program launched in July 2009. Mobile banking customers can buy the insurance using menus on their cell phones. They need a valid mobile money account to sign the application form, but medical or other documents are not required.
The program is only in the pilot stages limited to a number of service centers, Leach said, adding that the full rollout will occur within months.
Pieter Verkade, MTN's mobile money executive, said: "What we believe is it's a whole new area for us, as well as insurance companies. We are bringing these kinds of products to a market where they before would not have access to these projects."
Verkade said MTN is looking to expand its mobile banking services in regions such as West Africa, where there is a lot of demand. Already, MTN offers Rwandans the ability to purchase prepaid electricity through their cell phones.
"It's certainly doing a bit to improve the whole economy's income and the way people can interact by providing them financial tools they didn't have before," Verkade said. "In that respect, it's some kind of a revolution."
Google's has launched its own full-length online magazine, a quarterly publication whose aim is to create a "breathing space in a busy world."
The first edition of Think Quarterly, based out of the UK, is a 68-page dive into the world of data and its impact on business. The first thing most people will notice is that it's a visually stunning piece of work. It's a rich Flash app with Google's quirky sensibilities and the in-depth writing you might find in BusinessWeek or Salon. Google's quarterly magazine is edited and designed by creative agency The Church of London.
The articles are thought pieces about major business and technology topics from a variety of freelancers and contributors. Google was able to snag Simon Rogers (editor of The Guardian's Datablog), Ulrike Reinhard (editor of WE Magazine), and other journalists for the project. Many of Think Quarterly's articles feature interviews with Google executives and technology leaders. Some of the people featured include Vodafone UK CEO Guy Laurence, Google Chief Economist Hal Varian and famed psychologist Peter Kruse.
"At Google, we often think that speed is the forgotten 'killer application' – the ingredient that can differentiate winners from the rest," Matt Brittin, Google's managing director of UK & Ireland operations, said in Think Quarterly's introduction. "We know that the faster we deliver results, the more useful people find our service."
"But in a world of accelerating change, we all need time to reflect. Think Quarterly is a breathing space in a busy world. It's a place to take time out and consider what's happening and why it matters."
It's unclear whether the new online magazine is another sign that Google is entering the media business or whether it's just a project to feed the company's intellectual curiosity. Google doesn't describe its newest project as a magazine or a publication. Instead, Google calls it a book on its website and a "unique communications tool".
The first edition of Think Quarterly, based out of the UK, is a 68-page dive into the world of data and its impact on business. The first thing most people will notice is that it's a visually stunning piece of work. It's a rich Flash app with Google's quirky sensibilities and the in-depth writing you might find in BusinessWeek or Salon. Google's quarterly magazine is edited and designed by creative agency The Church of London.
The articles are thought pieces about major business and technology topics from a variety of freelancers and contributors. Google was able to snag Simon Rogers (editor of The Guardian's Datablog), Ulrike Reinhard (editor of WE Magazine), and other journalists for the project. Many of Think Quarterly's articles feature interviews with Google executives and technology leaders. Some of the people featured include Vodafone UK CEO Guy Laurence, Google Chief Economist Hal Varian and famed psychologist Peter Kruse.
"At Google, we often think that speed is the forgotten 'killer application' – the ingredient that can differentiate winners from the rest," Matt Brittin, Google's managing director of UK & Ireland operations, said in Think Quarterly's introduction. "We know that the faster we deliver results, the more useful people find our service."
"But in a world of accelerating change, we all need time to reflect. Think Quarterly is a breathing space in a busy world. It's a place to take time out and consider what's happening and why it matters."
It's unclear whether the new online magazine is another sign that Google is entering the media business or whether it's just a project to feed the company's intellectual curiosity. Google doesn't describe its newest project as a magazine or a publication. Instead, Google calls it a book on its website and a "unique communications tool".
Wednesday, March 23, 2011
Despite the news of AT&T acquiring T-Mobile this week, T-Mobile's showing some solid phones at this Spring's CTIA mobile conference. The latest of the bunch, the T-Mobile G2x, is a dual-core beast that runs on T-Mobile's HSPA+ network with 4G data speeds.
The name is a bit misleading-this is not an HTC phone. The G1 and G2 were designed by HTC, but the G2x is an LG phone. And it looks familiar, it is because it is essentially a T-Mobile version of the LG Optimus 2X, which was seen in Vegas at CES 2011.
In addition to the G2x, T-Mobile has announced that it is expanding its network as well as double the speed to achieve a theoretical download speed of 42 Mbps. Customers in Las Vegas, New York and Orlando will be the first to experience the faster speeds.
T-Mobile is showing off a few other 4G products at the show including the T-Mobile Sidekick 4G, the T-Mobile Jet 2.0 laptop stick, the T-Mobile Rocket 3.0 (the first 42 Mbps-capable product) and the ZTE-manufactured T-Mobile 4G Hotspot.
The name is a bit misleading-this is not an HTC phone. The G1 and G2 were designed by HTC, but the G2x is an LG phone. And it looks familiar, it is because it is essentially a T-Mobile version of the LG Optimus 2X, which was seen in Vegas at CES 2011.
In addition to the G2x, T-Mobile has announced that it is expanding its network as well as double the speed to achieve a theoretical download speed of 42 Mbps. Customers in Las Vegas, New York and Orlando will be the first to experience the faster speeds.
T-Mobile is showing off a few other 4G products at the show including the T-Mobile Sidekick 4G, the T-Mobile Jet 2.0 laptop stick, the T-Mobile Rocket 3.0 (the first 42 Mbps-capable product) and the ZTE-manufactured T-Mobile 4G Hotspot.
Tuesday, March 22, 2011
Two of the world's richest men, software pioneer Bill Gates and investor Warren Buffett, are set to visit India this week to persuade the country's super-wealthy to part with more of their cash.
The pair made headlines last year when they said they would seek to get fellow billionaires to commit half of their wealth to good causes as part of the "Giving Pledge". So far, 59 rich Americans have taken the pledge.
But while charitable giving is widespread in countries such as the United States, it is less well established in developing nations such as India and China, where Gates and Buffett went in September on a similar mission.
The former, in an open letter in the Times of India newspaper, said he and Buffett plan to sit down with some of India's affluent business leaders "to talk about our own enthusiasm for philanthropy and the impact it can have".
"We come not as preachers, but more like cheerleaders," said Gates, just a few months on from the billionaires' high-profile China trip, where they wined and dined the country's richest industrialists to promote charity.
Fast-growing India is home to some of Asia's richest billionaires, making it "an exciting time to be having this conversation," added Gates.
But while there is no shortage of billionaires for Gates and Buffett to meet, it may not be the easiest of missions.
India's booming economy - growing by nine percent annually - has 55 billionaires with an average net worth of $4.5 billion, according to Forbes, the third-largest pool of billionaires after the United States and China.
Yet rich Indians are often criticised by local media for a reluctance to part with their cash. In fact, India's wealthiest social class has the lowest level of giving - just 1.6 percent of household income compared to 1.9 percent for the country's middle classes, according to global consultancy Bain and Company.
A $2 billion education donation by high-tech tycoon Azim Premji late last year was a rare exception - and shone a harsh light on the patchy philanthropic track record of India's wealthy.
Arpan Sheth, a consultant for Bain who is author of a recent overview of Indian philanthropy, said the country's charitable potential is huge. "Should individuals in India, particularly the well-off, be giving more? And can they afford to make more and larger donations? The answer to both questions is, 'Absolutely yes'," he said.
Philanthropic activity has failed to keep pace with growing riches, partly, Sheth believes, because the rapid accumulation of individual wealth is still a relatively new phenomenon.
"We have a history of scarcity and so it takes a while to build confidence that the future will be better on a sustainable basis and let go of newly earned wealth," said Sheth. There is also a suspicion that charities are badly managed and so donors fear their contributions "won't be put to good use or are at risk of being misappropriated," Sheth added.
The Bill and Melinda Gates Foundation, the charity set up by the software tycoon and his wife, was tight-lipped about the visit, citing security.
According to India's Business Standard newspaper Gates, his wife and Buffett would hold talks with the country's wealthy on Thursday in New Delhi.
There is no doubt that the need to help India's teeming poor is glaring. Some 42 percent of Indians, or 455 million people, live on less than $1.25 a day, according to the World Bank. India's statistics on health, infant mortality and malnutrition are worse than those for some countries in sub-Saharan Africa.
There are signs, though, that India's billionaires are waking up to the urgent need to bridge the yawning gap between rich and poor in the country of 1.2 billion people.
India's richest man Mukesh Ambani, who heads the country's largest private company Reliance Industries, warned earlier this month that "there will be no peace" if people are "discontented, deprived, unhappy and therefore angry."
The pair made headlines last year when they said they would seek to get fellow billionaires to commit half of their wealth to good causes as part of the "Giving Pledge". So far, 59 rich Americans have taken the pledge.
But while charitable giving is widespread in countries such as the United States, it is less well established in developing nations such as India and China, where Gates and Buffett went in September on a similar mission.
The former, in an open letter in the Times of India newspaper, said he and Buffett plan to sit down with some of India's affluent business leaders "to talk about our own enthusiasm for philanthropy and the impact it can have".
"We come not as preachers, but more like cheerleaders," said Gates, just a few months on from the billionaires' high-profile China trip, where they wined and dined the country's richest industrialists to promote charity.
Fast-growing India is home to some of Asia's richest billionaires, making it "an exciting time to be having this conversation," added Gates.
But while there is no shortage of billionaires for Gates and Buffett to meet, it may not be the easiest of missions.
India's booming economy - growing by nine percent annually - has 55 billionaires with an average net worth of $4.5 billion, according to Forbes, the third-largest pool of billionaires after the United States and China.
Yet rich Indians are often criticised by local media for a reluctance to part with their cash. In fact, India's wealthiest social class has the lowest level of giving - just 1.6 percent of household income compared to 1.9 percent for the country's middle classes, according to global consultancy Bain and Company.
A $2 billion education donation by high-tech tycoon Azim Premji late last year was a rare exception - and shone a harsh light on the patchy philanthropic track record of India's wealthy.
Arpan Sheth, a consultant for Bain who is author of a recent overview of Indian philanthropy, said the country's charitable potential is huge. "Should individuals in India, particularly the well-off, be giving more? And can they afford to make more and larger donations? The answer to both questions is, 'Absolutely yes'," he said.
Philanthropic activity has failed to keep pace with growing riches, partly, Sheth believes, because the rapid accumulation of individual wealth is still a relatively new phenomenon.
"We have a history of scarcity and so it takes a while to build confidence that the future will be better on a sustainable basis and let go of newly earned wealth," said Sheth. There is also a suspicion that charities are badly managed and so donors fear their contributions "won't be put to good use or are at risk of being misappropriated," Sheth added.
The Bill and Melinda Gates Foundation, the charity set up by the software tycoon and his wife, was tight-lipped about the visit, citing security.
According to India's Business Standard newspaper Gates, his wife and Buffett would hold talks with the country's wealthy on Thursday in New Delhi.
There is no doubt that the need to help India's teeming poor is glaring. Some 42 percent of Indians, or 455 million people, live on less than $1.25 a day, according to the World Bank. India's statistics on health, infant mortality and malnutrition are worse than those for some countries in sub-Saharan Africa.
There are signs, though, that India's billionaires are waking up to the urgent need to bridge the yawning gap between rich and poor in the country of 1.2 billion people.
India's richest man Mukesh Ambani, who heads the country's largest private company Reliance Industries, warned earlier this month that "there will be no peace" if people are "discontented, deprived, unhappy and therefore angry."
