Truecaller, a leading caller identity company, has launched its call recording and transcription features for premium users in India, catering to its largest user base. This move follows the introduction of similar features in the U.S. back in June 2023.
Premium users on both Android and iOS platforms can now benefit from call recording, with support for English and Hindi transcriptions. Unlike the U.S., Indian users won’t hear a beep sound when the recording begins, complying with local regulations.
For Android users, Truecaller’s dialer will display a dedicated recording button, while on other dialers, a floating recording button will be presented. iOS users, however, need to navigate to the Truecaller app after initiating a call, tapping on the “Record a call” feature, and manually merging the calls to start recording due to Apple’s CallKit restrictions.
After the call concludes, Truecaller processes the audio and sends a notification when the transcription is ready. On iOS, recordings are stored locally with an option to save them in iCloud.
Despite challenging quarters, Truecaller remains optimistic about customer engagement. Quarterly results from Q4 2023 revealed a slight dip in revenue, primarily attributed to a decrease in ad revenues. However, the user base in India continues to grow, representing over 70% of both monthly and daily active users.
Facing a decline in ad revenues, Truecaller aims to boost subscriber revenue, emphasizing growth efforts in the U.S. and selected markets in LatAm & Africa. The company’s premium plan, starting at ₹79 ($0.95) per month or ₹529 per year ($6.38), includes coveted features like call recording, encouraging users to opt for the subscription.
Addressing recent recommendations from the Telecom Regulatory Authority of India (TRAI) regarding a caller ID service called calling name presentation (CNAP), Truecaller dismisses it as non-competitive.
In an investor note, stockbroker Numis suggests that Truecaller may not witness immediate improvements in the Indian ad market. However, the company’s focus on growing subscribers, particularly in the U.S., indicates a strategic shift towards sustaining revenue through user-centric services.
By incorporating these subheadings, the blog provides a structured overview of Truecaller’s recent developments, user experience enhancements, financial landscape, and strategic initiatives in the Indian market.
