ALSO READHCL Infosystems shares surge 19% on talks to sell Apple products HCL Info surges 18%; company clarifies on reports of tying up with Apple Good news for Apple fans! You may soon get an iPhone 5S for Rs 15,000 Apple market cap could reach $900 bn as it launches $1,000 iPhone this year HCL Q1 profit up 7.6%; 10.5-12.5% growth forecast lifts stock
HCL Infosystems on Monday said it will distribute Apple products, including the iconic iPhone, in the Indian market. The company had said in July that it was in discussions with the US-based tech giant to distribute its products in India. In a regulatory filing, HCL Infosystems said it has signed an agreement for "distribution of iPhone and other Apple products" with Apple India, a confirmation of which it received on Monday. It had signed a non-disclosure agreement with Apple India on December 23, 2016, and had expressed interest in taking up distribution of Apple products in India. It is a strong player in the distribution space and has worked with brands like Lenovo, Motorola and Nokia. A partnership with HCL will also be beneficial to Apple as it will its enhance presence in more Indian cities. Currently, Apple has distribution tie-ups with companies like Ingram Micro, Redington, Rashi Peripherals and Beetel Teletech in India.