Apple has dropped the price of the iPhone 4S in India from Rs 31,500 to Rs 24,000, sources tell BGR India. Officially, the price reduction is happening by the way of a buyback scheme but for all practical purposes it is a regular price drop as online retailers are already offering it for slightly lower than Rs 24,000 without buyers having to exchange it for an old smartphone.
Sources also tell BGR India that the iPhone 4, which was reintroduced in India recently for Rs 22,900, has also been sold out. This is likely to be the end of life for the iPhone 4, unless Apple decides to launch it at an even lower price, which seems unlikely at the moment.
The move comes after Sony reportedly overtook Apple as the second largest smartphone brand in the country by value at the end of last year. The iPhone 5C too got an unofficial price cut from its launch price of Rs 41,900 for the 16GB variant and is currently available for Rs 38,000 with most online retailers.
Apple has been really aggressive in India this year with multiple buyback schemes for its iPhones, iPads and MacBooks. There has been greater elasticity in the pricing of iPhones, in particular, this year with even the iPhone 5S available for approximately Rs 47,500 for the 16GB variant, down from its launch price of Rs 53,500. Under the premise of buyback schemes, Apple is allowing retailers to provide discounts to buyers than insisting on exchanging an old smartphone.