Tech giant Apple has reported a 55 per cent increase in sales of the iPhone in Indian over the past year, as reported by the Times of India. The figures were revealed by Tim Cook, CEO of the company, during the second quarter earnings call on Thursday.
iPhone sales grew by 16.8 per cent globally, while growth in emerging markets similar to India far exceeded that number. The device's sales were up by 97% in Russia, 262% in Vietnam, 61% in Brazil and 56% in Turkey. In typical Apple fashion however, Cook did not reveal the specific sales breakup between the various iPhone models sold.
The iPhone's success in India was due to the re-introduction of the iPhone 4 (discontinued in September 2013) at a price of Rs 22,990, making it the cheapest model of the device in the country. Moreover, prices of all the iPhone models (including the 5s) were slashed recently, though not officially.
The flagship 5s which carries an official price tag of Rs 53,500 for the base variant can be bought for Rs 47,000. The colourful 5c model which was launched at Rs 41,900 can be had for Rs 37,000.
Apart from this, Apple is also offering customers attractive finance and buy-back schemes on the iPhone which have helped keep customers within the environment. Exchanging a three year old iPhone 4 for a new iPhone 5c will entitle the customer to a Rs 13,000 discount on the price of the new phone.
Unlike in developed markets, Apple has been focusing on the mid-range smartphone segment to really power its growth. Through this the company is hoping to get consumers in India hooked to Apple products in the hope that they will stay within the confines of the company's products when they decide to make upgrades.
According to the latest IDC data, Apple is the third largest smartphone manufacturer in India in terms of value, after it lost the second spot to Sony who have been heavily focusing on the mid-range segment. In terms of volumes, Apple controls 7 per cent of the Indian smartphone market, a long way off its biggest rival Samsung who controls over 60 per cent.