iPhone Sales Skyrocket in India Following Launch of New Payment Plan

iPhone Sales Skyrocket in India Following Launch of New Payment Plan

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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

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......
Indian - June 3, 2013 at 2:19am
Fuck you Jake! lol... Have your wife smell your butt hole .. lol
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.
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