New iPhones worth the cost as they replace many other gadgets: Tim Cook

Defending the high cost consumers would have to pay to own the most expensive iPhone released this month, Apple CEO Tim Cook has said that the device is worth the cost as it replaces many other gadgets one might need, a media report said.

Apple's newest line of iPhones -- the iPhone XR, XS and XS Max -- cost as much as $1,449 for the most expensive model, CNBC reported late on Tuesday.

"The phone has replaced your digital camera. You don't have a separate one anymore. It's replaced your video camera. It's replaced your music player. It's replaced all of these different devices," Cook was quoted as saying to ABC's "Good Morning America".

"And so arguably the product is really important. And we've found that people want to have the most innovative product available and with that, it's not cheap to do."

Apple to unveil new products on Sept 12: Get ready for new iPhones and more

It's confirmed! Apple Inc is set to roll out its latest lineup of products, more importantly, the new version of iPhone on September 12 at the Steve Jobs Theater in the company's Cupertino, California campus. "Gather Round," said the invite on Apple's website. Beyond the iPhones, Apple has been working on updated AirPods, an AirPower wireless charger, a new Apple Watch, and revamped iPad Pro tablets for this year, according to several reports. This means consumers can look forward to a series of product launches in the upcoming event.

Let's have a look at the possible launches this September 12 in the most-awaited tech event:

iPhone XS, iPhone X Plus, 9, or something entirely different?
If reports are to be believed, Apple will unveil its renewed iPhone strategy at the event. It’s planning three new models that look like the iPhone X, including a refresh to the flagship device, a larger premium model, and a larger, cheaper model that comes in different colours. All three devices will have facial recognition and edge-to-edge screens like the iPhone X, but the two premium models will have OLED screens, while the cheaper phone will use LCD technology, Bloomberg News has reported.

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Jio deal, cashbacks: How to get the iPhone X for Rs 18,700

Reliance Jio is offering a buyback offer on Apple’s anniversary edition iPhone X. The buyback offer from Jio coupled with cashback offer  Citibank credit and debit cards brings down the effective cost of the smartphone’s 64 GB storage variant to Rs 18,700.

While the cashback offer for Citibank cardholders is a limited period offer, the buyback offer is subjected to certain terms and conditions. In India, the iPhone X with 64 GB and 256 GB storage is priced at Rs 89,000 and Rs 1,02,000, respectively. The buyback offer from Reliance Jio assures 70 per cent return value to customers that bring down the cost of smartphones to Rs 26,700 for 64 GB storage variant and Rs 30,600 for 256 GB storage variant. The additional Rs 8,000 cashback on Citibank cards further reduces the effective cost to Rs 18,700 for 64 GB storage variant and Rs 22,600 for 256 GB variant.

Here are terms and conditions of the buyback offer from Reliance Jio
The buyback offer is valid only for Jio subscribers who take up the Rs 799 monthly Jio-Apple contract, which is valid for 12 months.
The buyback offer assures 70 per cent money back to subscribers that will be refunded only if the customer chose to return the device to Jio after 12 months of use.
The Rs 799 monthly contract is available for postpaid and prepaid subscribers. In Rs 799 monthly plan, Reliance Jio will offer free voice calls, SMS and Jio apps coupled with 3 GB high-speed 4G data per day valid for 28 days.
The smartphone should be in good condition, subjected to inspection from Reliance Jio, to be eligible for buyback offer.

With a $1,000 price tag, Apple's iPhone 8 crosses a threshold

When Apple unveils its new top-of-the-line iPhone on Tuesday, it isn’t just expected to offer features like infrared facial recognition and wireless charging for the first time.

The company will also enter new territory on price: The latest phone will start at about $1,000, compared with the $769 minimum for its current top phone, the iPhone 7 Plus.

“It’s a whole new threshold,” said Debby Ruth, a senior vice president at the tech consulting firm Frank N. Magid Associates. I really do think it’s going to make people pause.”

From the iPhone’s introduction a decade ago, Apple has always priced it as a premium product — a more refined and polished alternative to the legions of cheaper smartphones available in the market.

But this time, the company is pushing into luxury territory. The new phone will cost as much as the company’s entry-level MacBook Air laptop. “They’re doubling down on their strategy: They are going much more to the high end,” Ms. Ruth said.

Apple declined to comment before the product announcements scheduled for Tuesday. (On Saturday, Steven Troughton-Smith, a developer who combed through the iOS 11 software, found references indicating that the new high-end phone will be called the iPhone X.)
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Apple to be worth at least $824 bn in 2017, predict analysts

Benefiting from its expensive 'plus' models and rising demands of its products, Apple Inc will be worth at least $824 billion this year, analysts have predicted.

Apple's shares already soared more than 16 per cent to fresh highs during the second quarter but analysts are optimistic the stock has much more room to grow, MarketWatch reported on Monday.

Canada-based global investment bank RBC Capital Markets on Monday lifted its 12-month price target to $157 from $155 and reiterated an outperform rating.

That would increase Apple's market capitalisation to $824 billion from $740 billion currently. Apple's stock hit a record high of $144.77 on April 4, the report said.

RBC analyst Amit Daryanani also increased his March-quarter iPhone estimates and fiscal 2017 revenue estimates, saying trends indicate consumer preference for Apple's more expensive plus models, which have contributed positively to average selling prices.

While the company's third-quarter outlook "could come modestly below estimates" as consumers delay planned upgrades ahead of the iPhone 8 launch in September, its large installed base and attractive valuation make it worthy of investment despite muted expectations.

Analyst at Pacific Crest Andy Hargreaves suggested that Apple is struggling with the optical fingerprint functionality expected on the OLED iPhone, which could lead to delays or the removal of it.

"While this creates some risk of production delays, at this point we do not believe it materially threatens volume through the coming iPhone cycle," Hargreaves was quoted as saying.

According to a report in USA on Tuesday, Apple co-founder Steve Wozniak believed that Apple, Google and Facebook will be bigger in 2075 and dominate the world.

Shares of Apple inched 0.6 per cent higher to $141.12 on Monday. The company will announce its earnings for the second fiscal quarter (first calendar quarter) of 2017 on May 2.

Apple had $246.1 billion cash at the end of its last fiscal quarter.
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