Thanks to Apple aggressive approach of installment payments and generous discounts, iPhone sales in India have grown over the past four months to 4 times, according to investment firm Credit Suisse. According to the firm, now Apple supplies to India 400,000 phones each month.
The system of monthly payments Apple (EMI) and discount programs significantly spurred sales of smartphones in India, which until then were kept at 70, 000 – 80, 000 units per month.
Since India – an emerging market, the smartphone segment is filled mainly by low cost mobile phones, while premium products are out of reach for the vast majority of the population. Recent studies have shown that the iPhone is now about 3% of the Indian market.
Aggressive approach to the promotion of the iPhone’s second most populous country in the world includes active marketing steps, but the most important for increasing sales of smartphones Apple program is implemented by installments, which allows customers to stretch payment when buying iPhone 4/4S for 6 or 12 months.
“Discount 4-9%, coupled with the option of payment by installments has become extremely popular in India – analysts say. – In just a few months of iPhone sales in the country grew by 3-4 times, forcing other market participants to respond to the situation. “
According to the publication of Credit Suisse, the real result Apple was able to achieve the introduction of discount 23-27%, making the iPhone is extremely attractive to new buyers.
Experts’ report, based on figures mobile retailers and distributors that correlates with the preliminary estimates to IDC, which also noted a 400 percent increase in sales of iPhone.
The first jolt was followed in early May, when the company began offering students the iPhone for just 7,777 rupees (about $ 134).
In an effort to capture some of the emerging smartphone market in India Apple has also developed a special system of discounts and promotions for Indian students by offering iPhone for just 7,777 rupees (about $ 134).[via Economic Times]