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Published on : Sep 11, 2014

The sale of large screen phones may witness a boost due to the additional feature of mobile payment service that has been included in Apple Inc’s latest iPhone. This could restore the market share of Apple Inc that was lost to Google Inc’s Android segment.

Soon after the launch of the Apple Watch and iPhone 6, the shares of Apple rose by almost 1.3% on Wednesday. This also led to more than six brokerages increasing their respective price targets on Apple’s stock to a high of $116. 

This new payment mechanism will enable iPhone 6 and 6 Plus users to pay for goods at the tap of a button via their Visa Inc, American Express co, and MasterCard Inc bank cards.

Such a technology has been provided by Motorola Mobility and Samsung Electronics Co Ltd in several Android smart phones.

Apple Inc has been facing pressures to come up with larger screen phones and newer services to compete with Samsung’s Galaxy Note phablets. 

According to research, the global market share of iPhones decreased to 11.7% during the end of the June quarter last year. More than half the revenue generated by Apple comes from the segment of iPhones. 

The latest product introduced by Apple Inc is the Apple Watch which is priced at $350 approximately, will serve as a digital wallet for paying for goods. This product is designed to play music, receive phone calls and messages besides being a digital wallet.

This watch will be sold in the US market in the year 2015. This product has received mixed reactions from the masses.