Shares of Apple’s iPhone authorised distributors HCL Infosystems and Redington India advanced as much as 5% in early trade on Tuesday ahead of the launch of iPhone 8 later in the day.
HCL Infosystems was trading 3.54% up at Rs 52.60 around 9.40 am (IST), while Redington India was up 2.42% up at Rs 162.80 at around the same time. Benchmark BSE Sensex was up 81.21 points, or 0.25%, at 31,963.
HCL Infosystems on August 21 said it will distribute Apple products, including the iconic iPhone, in the Indian market. It is a strong player in the distribution space and has worked with brands like Lenovo, Motorola and Nokia among others. A partnership with HCL will also be beneficial to Apple as it will its enhance presence in more Indian cities.
Besides HCL Infosystems and Redington India, Apple also has distribution tie-ups with companies like Ingram Micro, Rashi Peripherals and Beetel Teletech in India.
Apple is expected to sell its fanciest iPhone yet for $1,000, crossing into a new financial frontier that will test how much consumers are willing to pay for a device that’s become an indispensable part of modern life.
The unveiling of a dramatically redesigned iPhone is likely be the marquee moment on Tuesday when Apple hosts its first product event at its new spaceship-like headquarters in Cupertino, California.
News Credit: Gadgets Now