Apple iPhone 8 launched, buyers to get 70% of price when selling it back to Jio

Akash Ambani said the buyback offer would be available for customers of iPhone8 or iPhone 8 Plus

Reliance Jio has a big surprise for those interested in buying Apple iPhone 8 in India. Jio will buy back Apple Inc's latest iPhone models from its customers within a year for 70 percent of the retail price of the smartphone, the company announced on Friday.

Reliance chairman Mukesh Ambani's son Akash Ambani said the buyback offer would be available for customers of iPhone8 or iPhone 8 Plus through Reliance Digital, Jio.com or the Jio Store.

Under this scheme, users will receive 70 percent of the purchase price of the devices upon using it with a Jio SIM card and returning it after a year. In other ways, this buyback scheme allows iPhone users to get 70 per cent of their money back when they upgrade to next iPhone.The buyback offer is valid for one year.

Also Read : Apple CEO Tim Cook 'joins' Akash Ambani at iPhone 8's India launch

This partnership between Apple and Jio brings two companies that have revolutionised their respective industries, because we both think customer first," said the Ambani scion.

Chairman of Reliance Industries Mukesh Ambani and Apple Chief Executive Tim Cook addressed people through video messages.

Cook spoke about the partnership with India's newest telco and the customisation that the latest devices from stables of Apple have for India.

"We’ve added new keyboards for India so we now support 11 local languages, and iPhone now takes dictation in Hindi. We’re excited to be building so many new relationships in India, including tens of thousands of developers across the country now writing apps for iOS," the CEO added. (more)

Apple's iPhone 8 launch: 7 stocks to watch out for today

Apple Inc will unveil new iPhones today at its Apple Park 'spaceship' campus

When Apple Inc unveils new iPhones 8 on Tuesday at its Apple Park “spaceship” campus, there may be important clues for the watchers of seven semiconductor stocks.

Apple exerts a sun-like gravitational pull on the global electronics supply chain, affecting the pricing of commodities like flash memory chips - it consumes 18 percent of global supply. The iPhone maker can make or break small, specialty chip suppliers.

The final tally of semiconductor winners and losers will not be known until the devices ship and analysts rip them apart to examine the circuit boards. That will give insight into matters like the continued battle between Intel Corp and Qualcomm Inc to supply so-called modem chips for mobile data.

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

Even the limited technical information Apple gives on stage tomorrow could shed light on how several other companies are faring. Here are seven stocks to watch during today’s launch.

LUMENTUM

Lumentum Holdings Inc makes what are instead known as vertical-cavity surface-emitting lasers, or VCSELs for short. These are a key component of 3D sensors that could power some of the expected features of the new flagship iPhone, such as the ability to unlock the phone through 3D facial recognition.

The company said it has received $200 million in orders for these lasers since April. Lumentum says it has multiple customers, but most analysts believe Apple is behind the surge in orders.

What is not clear, however, is whether the new facial recognition features will be available on only the flagship model, likely named the iPhone X, or whether it will also be available on the anticipated iPhone 8 and 8 Plus.

FINISAR

Finisar Corp also makes 3D sensor lasers but specializes in a higher powered version of the technology with greater range. That sensor would be more suitable for the backside of an iPhone, to assist with features such as augmented reality, in which digital objects float over real objects on screen. (more)