iPhone 8 launch: Apple distributors’ shares gain




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. NSEBSERedington India.

PEER COMPANIES NEW DELHI: Shares of Apple’s iPhone authorised distributors HCL Infosystems and Redington India advanced as much as 5 per cent in early trade on Tuesday ahead of the launch of iPhone 8 later in the day.

HCL Infosystems was trading 3.54 per cent up at Rs 52.60 around 9.40 am (IST), while Redington India was up 2.42 per cent up at Rs 162.80 at around the same time. Benchmark BSE Sensex was up 81.21 points, or 0.25 per cent, 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.




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