Apple’s iPhone sales grow 400 percent in India

Credit Suisse has issued a note to clients stating that iPhone sales in India have shot up by close to 400 percent. Reported by the Economic Times, the note suggests that the EMI plans and other schemes initiated in India have had the desired effect resulting in quadrupled sales.

tim-cookThe note was based on figures obtained from checks done at retailers across the country as well as with distributor partners. Figures are expected to have touched as much as 400,000 units compared to previous estimates of 70,000-80,000 units a month. Rumors of a lower cost iPhone aimed at developing markets suggest that Apple might have been merely testing waters so far. The EMI scheme and full page advertisements in national dailies accompanied with buy back offers might just be the first step in many to gain a significant foothold in a market dominated primarily by Samsung. The iPhone has long been considered a status symbol but wasn’t a high seller due to a very steep price point and India being an unlocked only market. However the relatively appealing price point of previous generation models makes them a popular choice for users looking for a luxury symbol and a good though not the latest smartphone experience bundled together. Expect Apple’s foothold in India to go up rapidly if the rumors of a lower cost iPhone end up being true.

[Via – Economic Times]

Author: Dhruv Bhutani

Your friendly neighborhood techie. Currently using a Pixel 2 XL. Catch him on Twitter (@DhruvBhutani) / Facebook .