Apple offering Rs 34,000 discount on latest iPhones

MUMBAI, INDIA: It’s not even a month, and Apple has announced discount to the tune of Rs 34,000 on its latest iPhones.

The consumer giant has initiated a buyback offer on iPhone 6S and 6S Plus, priced at Rs 62,000-Rs 92,000 respectively, depending on memory and model. Despite the initial euphoria, the sales did not pick-up as expected, and Apple reported a drop of 15-20 percent on its new products.

This is perhaps for the first time that Apple and its India distributors collectively decided to launch the buyback scheme in a bid to boost sales. It must be noted that Apple India has set a full year target of 35 lakh devices, a number synonymous with some of its largest markets globally, and 1/3rd the sale in number of units during the OND quarter.

For instance, Ingram Micro, an Apple iPhone distributor, has rolled out the buyback scheme in some Apple stores and multi-brand retail stores in South India. Three more distributors will follow suit.

Interestingly, Apple is not only buying back its own products, but also those of arch rivals, namely Samsung. Apple has also created a separate website where retailers have to upload details of old handsets against which new models can be purchased.

Last month, during an analyst conference call, the Apple management had acknowledged that the higher pricing of iPhone 6S and 6S Plus in India and some other markets due to foreign exchange fluctuations has had an impact on their sales.