Apple (AAPL) introduced its first iPhones that will be made in India, as it moves to diversify where its phones are manufactured.

Apple held its annual fall product launch event Tuesday, where it introduced the new iPhone 15, iPhone 15 Plus and Pro, and Apple Watch Series 9 and Ultra 2.

All eyes were on the new iPhone 15, which promises a more powerful camera, increased connectivity with other Apple devices and advanced voice recognition powered by machine learning. The base model is selling for $799 but Apple is likely counting on sales of the Pro and the Pro Max,൲ which will retail fo✤r $999 and $1,199, respectively.

The price tags on the new models are important, as analysts at Wedbush estimate about 250 million iPhone users worldw💯ide have not upgraded their phones in more than four years.

All new iPhone models will be available for pre-order starting Friday and in stores Sept. 22. The Wedbush analysts said the iPhone 15 release will likely give Apple🥃 an edge going into the holiday shopping seaso🔯n. 

Apple also introduced its Series 9 and Ultra 2 Apple Watches, which come equipped with advanced workout options, greater battery life, and an environmentally-friendly strap made with👍 recycled materials.

Your iPhone Could Be The First Made in India

Your iPhone 15 could be the first made in India. While the overwhelming share of the newest iPhones will still be made in China—Apple's longtime manufacturing hub for its smartphones—production of iPhones began last month at Apple supplier Foxconn's 澳洲幸运5官方开奖结果体彩网:factory in southern India.

Apple is increasing its presence in India, as the tech giant seeks to 澳洲幸运5官方开奖结果体彩网:diversify its supply chains amid uncertainty in China and the country's ꦬbrewing trade🐽 disputes with the U.S.

Other Apple suppliers, including Taiwan-based Pegatron Corp. and Wistron Corp., could begin assembling iPhones in the country, according to Bloomberg. These contracts have enabled Apple to triple production of its iPhones in India during the year ended in March, and the tech giant now produces 7% of its smartphones in the country.

Apple's foray into India isn't just focused on manufacturing, with the tech giant also eyeing the world's most populous country as a massive retail market. Apple earlier this year opened its first stores in India, located in New Delhi and Mumbai, tapping into the country's nearly 1.4 billion-strong consumer market.

Apple Shares Tend to Fall on Product Launch Day

Apple shares fell 1.7% Tuesday. The company's shares typically fall on product launch day, as investors already have some advance knowledge of the products being released. Unless the products are revolutionary, like the first iPhone or iPad, it often isn't enough to satisfy investors, who sell shares in the company.

ꦇ However, Apple shares have risen considerably this year and are up 35% year-to-date.