On Track Innovations Ltd (USA) (OTIV) Gets a Boost from Apple Inc (AAPL)’s iPhone 6 Launch

Apple Inc (NASDAQ:AAPL) broke its previous record of pre-order sales with 4 million units booked within 24 hours of opening. Both iPhone 6 and iPhone 6 Plus have received an extraordinary response from the market. Amid the success of Apple Inc (NASDAQ:AAPL)’s iPhone 6, On Track Innovations Ltd (USA) (NASDAQ:OTIV) has turned out to be another winner out of the launch.

On Track Innovations Ltd (USA) (NASDAQ:OTIV) is known for its cashless payment solutions and near field communications (NFC) technology. Apple introduced NFC-payment technology in its latest version of iPhone i.e. iPhone 6, which has boosted the technology firm’s reputation. Apple Inc (NASDAQ:AAPL) has joined hands with other major NFC-enabled Smartphone providers including Samsung Electronics Co Ltd (KRX:005930), Nokia, Motorola, LG, and HTC.

Apple (AAPL)

Ofer Tziperman, CEO of On Track Innovations Ltd (USA) (NASDAQ:OTIV), said,

“With the launch of Apple’s iPhone 6, the WAVE becomes the leading cost-effective solution for existing iPhone and iPad models that enables secure NFC payment transactions. Apple’s adoption of NFC technology is a strong validation of our long-term vision and investment in NFC technology, as well as that of our partners and business customers.”

Further, On Track Innovations Ltd (USA) (NASDAQ:OTIV) announced that the company is working to produce add-on devices for earlier versions of Apple iPhone 4, 4S, 5, 5S, and iPad devices to facilitate NFC transactions. Consumers can plug-in oti WAVE device to their iPhone and Android devices for contactless payments, NFA, and MIFARE capabilities.

After closing at $3.61 on Monday, On Track Innovations Ltd (USA) (NASDAQ:OTIV) share prices have increased by 24.91% after the September 9 launch event from Apple Inc (NASDAQ:AAPL). The company is likely to witness more growth and money infusion from investors.

This article has been written by Prakash Pandey.

Related News:

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“Apple Inc. (AAPL)’s Latest iPhone 6 Supply Shortage With Delays Of Up To 4 weeks”

“MasterCard Inc (MA) Believes That Apple Inc (AAPL)’s Apple Pay Is Safe”

“Visa Inc (V), Mastercard Inc (MA) and American Express Company (AXP) Might Benefit From Apple Pay”

“Apple Inc (AAPL) Revolutionizes Payment by Introducing Apple Pay”

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