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IST, the barometer index, the S&P BSE Sensex, declined 485.18 points or 0.64% to 76,644.94. The Nifty 50 index tumbled 182.80 points or 0.79% to 22,848.60.

Apple is rumored to launch the iPhone SE 4 on February 19, featuring a 6.1-inch OLED display, Face ID, and an upgraded A18 chipset.

Amazon is also participating in Valentine's Day promotions with its own offers on Apple products. The iPhone 16 is available for Rs. 73,900 after an 8% discount from its original price of Rs. 79,900.

India's smartphone exports hit a record US$ 3.14 billion in January 2025, a 140% increase from last year, with total exports projected at US$ 25.92 billion for FY25.