Apple Inc has cut prices of one of iPhone XR in India, as the U.S. tech giant looks to boost sales in the world's second-biggest smartphone market following a similar move in China. The price of the 64 GB iPhone XR has been reduced by at least 17,900 rupees ($259) due to a price cut and a credit card cashback campaign.
Following the price cut, the iPhone XR now starts at Rs. 59,900 on Amazon.in for the 64GB base model. Post the discount, the prices of 128GB and 256GB iPhone XR will be Rs 64,900 and Rs 74,900 respectively. For the HDFC debit and credit card holders the cost of iPhone XR would come down to Rs 58,400 for the 128GB model, while the 256GB variant will be available at a price of Rs 67,400. The HDFC cashback will be offered to customers who swipe the complete amount in one go. The cashback is also valid for people who opt for 1-2 year EMI transactions.
In India, Apple's iPhones are up against the more competitive pricing of rival handsets from South Korea's Samsung Electronics Co Ltd and China's OnePlus. "The focus of this entire (price cut) exercise is to win customers who would have thought of going to Samsung or OnePlus, to make them think whether they can spend some extra money on an iPhone XR - it's more bang for the buck," said Rushabh Doshi of tech research firm Canalys.
Samsung's latest Galaxy S10e is priced at 55,900 rupees while the OnePlus 6T starts at 37,999 rupees. Apple's share of India's $400-plus smartphone segment stood at 23 percent in 2018, behind both Samsung and OnePlus, showed data from Hong Kong-based tech researcher Counterpoint. But with a share of just 1 percent of India's entire smartphone market, Apple responded last year by revamping its sales and distribution strategy.
Apple also plans to increase local production in a move that could help it limit the impact of a China-U.S. trade war. The company will soon begin assembling its top-end phones through the local unit of Hon Hai Precision Industry Co Ltd (Foxconn), Reuters previously reported.
(Inputs from Reuters)