Tech
Apple doles out schemes to make iPhone more affordable in India
Some of the financial offers include discounts for trade-ins, installment plans, additional subsidies for students, and a ten percent cashback offer for AmEx credit card holders.
Apple is offering a range of incentives to make its iPhone more affordable to Indian customers, such as trade-in discounts, subsidies for students and a credit card rebate with American Express.
Students who trade-in their old smartphones while upgrading to an iPhone will get 7,777 rupees (US$144). Non-students will be paid 7,000 rupees (US$130).
An Apple ad advertising a student offer in the national newsdaily, mint.
Indian customers who purchase a new iPhone using their American Express credit card will receive a ten percent cashback.
The smartphone manufacturer will refund a maximum of 6,000 rupees (US$111) to American Express customers who purchase an iPhone 4, 4S or 5 before June 10, according to a full-page advertisement published in a news daily.
An AmEx credit card issued by an Indian bank must be used to purchase the handset on the recently introduced installment plans, available via distributors Redington and Ingram Micro.
For example, a customer will receive 4,550 rupees (US$70) when they purchase an iPhone 5 (16 GB) on six monthly instalments of 2,374 rupees (US$43), plus a 9,990 rupees (US$181.50) downpayment.
Canalys estimated there were 2.5 million iPhones in India at the end of last year. The research firm recently predicted that Apple would enjoy significant growth in 2013 because of the recently launched installment plans.
Last month, Samsung launched a 15 percent cashback scheme in India to make its devices more affordable, following in the footsteps of Apple.