Apple’s iPhone 6 and iPhone 6 Plus were launched in India in October last year, with prices starting at Rs 53,500. The new iPhones have been lapped up by buyers, and the Cupertino-giant is said to have sold a whopping half-a-million iPhones in the last quarter of 2014, Economic Times reports.
According to Counterpoint Research analysts, Apple sold 500,000 iPhones between October and December last year. In contrast, Apple had sold a million iPhones only once in the fiscal year starting in October 2013 and ending in September 2014.
The huge bump in sales is credited to the launch of the new larger-sized iPhone 6 and iPhone 6 Plus in India. Apple’s new iPhones have broken all previous records globally as well. The company revealed that it had sold over 10 million iPhone 6 handsets in the first three days since it launched in the US.
In order to further strengthen its position in India, where it is said to have a market share of around two percent, Apple is now reducing the credit period by half and is also looking at reducing margins by 0.5-1 percent. As per norms, retailers are given a credit period of 14-15 days, and as for margins, Apple is said to offer around 9-11 percent margins on smartphones. According to a retailer, by making changes in the credit period and margins, Apple will be able to introduce more offers for consumers including EMI schemes.