Apple is making huge strides in selling iPhones in India. The company was reportedly selling close to 400,000 units per month. The Cupertino Company's new instalment payment schemes (EMI) and cash-back offers have really done the trick, as the sales have shot up by 400%.
Apple's products have always been termed as expensive in India, but with new offers like exchanging old smartphones to get a new iPhone 4 and easy monthly instalment plans, it has become easier for Indian consumers to make a purchase. Prior to the new marketing initiatives, Apple was selling around 70,000 to 80,000 smartphones.
"From our channel checks we believe that iPhone sales are nearing 400,000 units per month in India - that is nearly 3% share of handset sales for a single top-end product in a market that has long been dominated by low-end feature phones," Credit Suisse's research analyst Sunil Tirumalai stated in a note to clients.
Lets have a look at the schemes that were introduced by Apple
- Apple offered 4-9% implicit discount coupled with the option of easy EMIs spread over 6-12 months on their iPhone 4 and iPhone 4S models. Owing to some competition from Samsung, this discount was further pushed to 18%, with the down payment also being removed.
- The iPhone 5 was made available at a down-payment of Rs. 16,500 along with 12 EMIs of Rs. 2,999.
- Apple introduced exchange offers on it's iPhone 4 (until May). Users could exchange their existing smartphones for a brand new iPhone 4, with a minimum discount of Rs. 7,000. This discount could go up to Rs. 10,000, depending on the device that was exchanged.
- Apple also offered Rs. 7,777 discount on purchase of Apple iPhone 4 for students.
- Apple has also introduced an offer where customers of American Express can avail a refund of up to Rs. 6,000 by purchasing an iPhone 4, 4S, or 5 before June 10.