“According to a new report out today, equal monthly installments (EMI) and cash back schemes have worked wonders for Apple in India as iPhone’s monthly sales have risen by 300% to 400% over the last few months,” Jack Purcher reports for Patently Apple.
“Compared to average monthly sales of 70,000-80,000 smartphones before the EMI schemes were offered to consumers in India iPhone sales have zoomed up to stratospheric levels, analysts at Credit Suisse said,” Purcher reports. “In a note to their clients, Credit Suisse’s research analyst Sunil Tirumalai stated that from their channel checks, they believe that Apple’s iPhone sales are nearing 400,000 units per month in India. That represents close to 3% market share of handset sales for a single top-end product in a market that has long been dominated by low-end feature phones.”
Purcher reports, “About four months ago, Apple began its EMI scheme that offered potential buyers to make a partial payment of iPhone 4 and 4S models upfront and pay the rest of the amount in installments over 6 to 12 months without paying any interest.”
Read more in the full article here.
Related articles:
Apple intros new incentives to make iPhone more affordable in India – May 20, 2013
Analyst: Samsung, BlackBerry marketing tends to mentally enslave the Indian consumer – May 16, 2013
Apple and Samsung locked in smartphone price war in India – or are they? – April 16, 2013
Apple starts a ‘cashback’ smartphone price war with heavy discounted iPhone 4 in India – April 12, 2013
Apple iPhone 4 sales triple in India on new buyback program – April 11, 2013
Apple to triple exclusive stores in India to 200 locations by 2015, sources say – March 26, 2013
Apple cracks India’s smartphone market – March 13, 2013
Apple signals emerging-market rethink with India push – February 25, 2013
Apple’s iPhone sales in India rise four-fold in 3 months – February 8, 2013
Apple launches iTunes Store in Russia, Turkey, India, South Africa and 52 additional countries – December 4, 2012
Apple iPhone 5 coming to India on November 2, App Store adopts rupee pricing – October 26, 2012
Apple counters cheap Android phones in India by relaunching unlocked iPhone 3GS – June 28, 2011
High prices for Apple iPhone 3G in India causes disappointment, outrage – August 25, 2008
Apple faces big challenges in bringing iPhone to India, world’s fastest growing mobile phone market – December 26, 2007