Mumbai, June 18 -- According to media reports citing Apple CEO Tim Cook, the company is considering price increases on some products as rising costs of key components used in devices such as iPhones, iPads and MacBooks become harder to absorb. The increase in component costs has been driven by strong demand from the artificial intelligence industry. Apple did not specify which products could see price hikes or when the changes might take effect.

Redington attracted investor interest as it is one of Apple's key distribution and supply chain partners in India. The company distributes iPhones, iPads, MacBooks and other Apple products through its extensive channel network.

Traders expect any increase in Apple product prices could potentiall...