Showing posts with label price. Show all posts
Showing posts with label price. Show all posts

Saturday, October 15, 2011

Apple iPhone 4S: May become highest-selling gadget

Apple Inc's new iPhone debuted with a splash across the globe, spurring thousands to queue around city blocks and snap up the final gadget unveiled during co-founder Steve Jobs' life.

Shares of Apple leapt 3 percent to close at a record after people thronged stores in Sydney, Tokyo, London, Paris, New York and San Francisco to get their hands on the iPhone 4S, ignoring criticism about the lack of a design revolution and reports of software glitches.

Fans in Sydney, Tokyo, Frankfurt and London made sure Jobs, who died last week, remained part of the iPhone 4S launch, with flower, candle and photo shrines erected outside stores. A black-and-white picture of the visionary leader in Covent Garden carried the line: "Let's make a dent in the universe."

In New York and San Francisco, hundreds showed up as expected but the mood proved more subdued than was typical on an iPhone launch day.

"I have a lot of respect for how he led the company and so the turnout, and especially the preorder sales, is a mark of appreciation for him," insisted Chris Centers, who was one of the people who has lined up outside the store.

One of the buyers had also stopped by to lay flowers at the San Francisco store's glass wall in honor of Jobs.

The new model looks similar to the previous iPhone 4 but has an upgraded camera, faster processor, enhanced security and voice-activated software, which lets users ask the phone questions. The voice software drew glowing reviews.

Unveiled just a day before Jobs died, it was initially dubbed a disappointment, partly because it looked identical to its predecessor. But anticipation of the "Siri" voice software helped it set an online record in orders on October 7.

Rivals' woes may have provided a boost. Research in Motion struggled for days to fix an international outage of its email and messaging services.

Also, about one in four people who thronged Apple stores from Tokyo to San Francisco told Reuters they were ditching BlackBerries, discarding Nokias or even giving up Google Android-based phones, hoping for something better.

Apple CEO Tim Cook and his executive team hope the first device sold without Jobs at Apple's helm will protect the company against a growing challenge from the likes of arch-rival Samsung Electronics.

Analysts believe the South Korean company, which powers its phones with Google's Android software, surpassed Apple as the world's biggest smartphone vendor in terms of unit sales in the third quarter.

Apple does not release sales on launch day, so gauging initial figures is difficult. However, the company took more than 1 million online orders in the first 24 hours after the release of the iPhone 4S, exceeding the 600,000 for the iPhone 4, which was sold in fewer countries initially.

Sprint -- joining Verizon and AT&T in Apple's roster for the first time -- said on Friday it had chalked up a launch-day sales record for any device -- by around noon.

Jobs "made everything better and the products he released were thought through in such detail," Duncan Hoare, a foreign exchange trader, said as a loud roar greeted the opening of an Apple store in London. "It was about the beauty of something and the simplicity."

Glitches?

The iPhone -- seen as the gold standard for smartphones -- is Apple's highest-margin product and accounts for 40 percent of its annual revenue. The newest iteration uses chips from Qualcomm Inc, Toshiba and a host of smaller semiconductor companies, according to repair firm iFixit, which cracked the device open on Thursday.

Despite the enthusiasm at stores, Friday's launch was marred somewhat by widespread complaints on the Internet this week about problems downloading iOS 5, the latest version of Apple's mobile software.

There were also problems with iCloud, Apple's online communications, media storage and backup service formally launched on Wednesday; users reported glitches such as losing their email access.

Queues in Paris were smaller than those normally seen for a brand-new iPhone, with some fans there wondering if the somewhat underwhelming introduction had put people off. But in London and elsewhere the lines were as long as ever.

"Despite the initial disappointment that this wasn't an iPhone 5, the reality is we're still seeing the usual frenzy that we've got used to on launch day," analyst Ben Wood at CCS Insight told Reuters. Analysts expect global sales of a few million phones on the first weekend, he added.

Analysts point to several factors in Apple's favor, including a $199 price that matches up well with rival devices, and availability promised on more than 100 carriers by the end of 2011, far more than its predecessors.

Underscoring the enthusiasm for the new phone, Japanese mobile carrier Softbank Corp had to temporarily stop contract applications after its computer system was overwhelmed with more requests than it had expected.

Some analysts expect fourth-quarter iPhone shipments to reach 30 million or more, almost twice as many as a year ago.

"I am a fan, a big fan. I want something to remember Steve Jobs by," said Haruko Shiraishi, waiting patiently with her Yorkshire terrier Miu Miu at the end of an eight-block queue in Tokyo's smart Ginza shopping district.

Railways hikes freight rates by 6%

Inflation is likely to shoot further as railways has announced a 6% hike on its freight charges for all commodities to meet the growing financial burden that the state-run transporter is facing due to rising operating cost.

The hike will have a cascading effect on prices. And, will certainly hit the aam aadmi, bearing the brunt of rising food inflation, hard.

With increase in transportation cost of commodities like foodgrains, coal, fertilizer and iron ore, traders will pass on the burden to the consumers.

The circular, issued by the Railway Board, shows that freight prices of all commodities have been revised from existing 7% to 10% as busy season charge on the base freight rate.

The hike, which comes into effect from Saturday, follows an increase in freight charges levied in March. The busy season charge will be levied on all commodities except containerized cargo and certain automobile traffic, and is likely to continue till June 30, 2012. The poor financial condition and rising operating cost has forced railways to amend its earlier decision taken in March.

In March, railways had levied a busy season charge of 5% on coke and coke group and 7% on all other commodities between October 2011 and March 2012. Now, the rates have been revised to 10%.

Under the dynamic pricing policy, railways has increased development surcharge on all goods tariff from 2% to 5%. The hike, which came after four years, will be levied on normal tariff rate.

Rail officials have defended the move, arguing that operating cost has increased due to rise in prices of oil, steel and employees' salaries by 15%-20%. Railways, they claimed, is passing a partial burden of the increasing operation cost, while the rest is being met by increasing efficiency and productivity.

An official pegged the burden on the industry between Rs 1,200 crore and Rs 1,500 crore.

Wednesday, September 28, 2011

Gold down Rs 75 to Rs 26,940 on weak global cues

Gold prices declined by Rs 75 to Rs 26,940 per 10 grams in the national capital on Wednesday due to sluggish demand at prevailing higher levels amid a weak trend in the Asian region.

However, silver rose further by Rs 200 to Rs 55,200 per kg on better offtake by industrial units at lower levels, after a steep fall earlier this week.

Trading sentiment turned bearish after gold declined in the Asian region, as investors sold the metal for cash to pay losses as commodities, including oil and copper fell on concerns that European leaders may fail to contain the region's debt crisis.

Gold in Asian markets, which normally sets the price trend on the domestic front, dropped by 1.1% to USD 1,632.05 an ounce in Singapore.

Besides, sluggish demand at prevailing higher levels also influenced the gold prices.

On the domestic front, gold of 99.9 and 99.5% purity declined by Rs 75 each to Rs 26,940 and Rs 26,800 per 10 grams, respectively. The metal had gained Rs 275 yesterday.

However, sovereigns found some local buying, following beginning of 'Navratra' festival and rose by Rs 400 to Rs 21,600 per piece of eight grams.

On the other hand, silver ready rose further by Rs 200 to Rs 55,200 per kg, while weekly-based delivery met with resistance and lost Rs 345 to Rs 53,700 per kg.

Silver coins moved up by Rs 1,000 to Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces on account of festive demand.