Sales of Apple’s iPhones in India have grown by up to 400 percent in the last few months, according to a Credit Suisse note to clients. The note, which was accessed by ET, suggests that iPhone sales in India have quadrupled ever since the Cupertino-based company started offering EMI plans and buyback schemes. It claims that Apple’s monthly sales have increased from 70,000-80,000 units a month to as much as 400,000 units.
Credit Suisse figures are based on checks done at retailers across the country as well as with Apple’s distributor partners. The EMI scheme along with an advertising blitzkrieg that involved full front page ads in major national dailies changed buyer’s perception of the iPhone, which was considered as an expensive proposition with limited features. An earlier report had indicated that iPhone sales in India had quadrupled in the last quarter of 2012 as well, when the iPhone 5 was launched in India.
With rumors of a cheaper iPhone in the offing for emerging markets like India, Apple is likely to consolidate its position even further. Samsung, which enjoys close to half of the country’s market share, will have to prepare for a long fight to retain its current market share, which will involve even higher marketing spends and cut throat pricing.
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