iPhone Sales Skyrocket in India Following Launch of New Payment Plan

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Posted June 1, 2013 at 5:04pm by iClarified

iPhone sales in India have skyrocketed between 300% to 400% following the launch of an equal monthly installments payment plan and cash back promotions in the country, reports the Economic Times.

Analysts at Credit Suisse note that before Apple offered these EMI schemes to customers, iPhone sales were around 70,000-80,000 a month.

"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 said.

Apple began its EMI scheme about four months ago, offering buyers the ability to make a partial payment on the iPhone 4 and 4S and then pay the rest of the amount in installments over 6 - 12 months with no interest.

"The 4-9% implicit discount coupled with the option of easy EMIs spread over 6-12 months became popular. Within a few months, our discussions with handset retailers indicated that iPhone sales went up 3-4x, forcing companies to respond," Tirumalai said.

It's widely rumored that Apple plans to release a low cost iPhone to better address emerging markets such as India.

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iPhone Sales Skyrocket in India Following Launch of New Payment Plan

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Tanmalhot - June 3, 2013 at 7:58am

India is emerging market just for smartphones. Rest of the things related to communication are way better than any crap n/w that we get here in the US of A......

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Indian - June 3, 2013 at 2:21am

And certainly Indian's don't clip coupons(for $0.10 discount) and wait in the line to get discount like most people in US do...

Shteef - June 2, 2013 at 8:57am

By not moderating the racist and offensive comments posted on this site, iClarified is obviously endorsing such views.

DavidG - June 2, 2013 at 3:33pm

I will say as much. I know these comments were ignorant and racist but dear friend moderating a free site would not be America. We have freedom of expression. You have that as well so speak back. Again, I know the difference and that not all Indians are the same and neither are we Americans. Please don't judge us all by this sort of trash. I have worked with many highly intelligent Indians. How do we smell to you?

Democracy vc Dictatorship - June 3, 2013 at 11:57am

Moderating is the new word for censorship in underdeveloped countries.

Anand - June 2, 2013 at 5:38am

India is the third largest economy. People are getting are exposed to tech lately. 3G just got implemented last year. And I feel it's the cheapest compaired to another other country Broadband is slowly growing.average broadband is 512kb People who have never experienced computers are straight away using the net on their phones and pads. Some parts of the country smells but my dear friend that not the only thing to know. The culture is the best. We never call teachers or elders by the first name. We give respect. We are more knowledgable than the us average person. We are more hard working and street smart than an US person. Apple just started looking at India since 2012. Things will evolve and countries like us and third world will revenue tech company's top line Indian customers are not impulsive as the westerners. They are a little more justifying in spending. We save money. Americans spends money. India will smell for many more years to come but that's the diversity of the country. With so many religions and politics and 2 enemies on oposite sides it is still going strong.

zubin - June 2, 2013 at 3:46pm

Thank you David...that pretty much sums up the way I feel too:)

THOUNE - June 3, 2013 at 3:04am

I thought you left Mr. Curried Zubin. Just keep it simple! STOP selling iPhone in India and START selling the most effective Deodorant, called iCurry anti-Spray. That will pay you a big buck! HAHA.

Milkman - June 2, 2013 at 4:46am

I concur.

RR - June 2, 2013 at 1:27am

For India no need of low cost iPhone, but just need the new release of a iphone in first phase available. Otherwise 70% of iPhones that are used in India will be imported from USA via gray market or through US friends network. Those all 70% sales will be counted as US sales. So later on even though Apple release directly, there won't be much demand. If apple realizes that it will be good. :)

tedyykupa - June 1, 2013 at 8:09pm

LOL they really got scarred of Nokia Asha.

Raul - June 1, 2013 at 6:33pm

Way to go apple...

Prakash Munjuluri - June 1, 2013 at 5:23pm

Good news..Apple should concentrate more on India..If low cost iphone releases, it would sweep smart phone market in India & Apple will stand in top position by suppressing Samsung,htc & nokia..!!