Last October, Apple released the iconic iPhone 6 and iPhone 6 Plus in India, and it seems the Cupertino company is doing very well in the region.
Since its launch, Apple has reportedly sold nearly 500,000 units in India, which is double the amount of units the company sold in the same quarter last year. This impressive growth highlights the increasing demand for Apple’s products in the Indian market, a region that has traditionally been dominated by Android smartphones. The success of the iPhone 6 and iPhone 6 Plus can be attributed to several factors, including Apple’s strong brand reputation, the introduction of larger screen sizes, and the enhanced features that these models offer.
Apple’s Strategic Moves in India
Furthermore, Apple plans to reduce the credit period for retailers from fourteen to seven days and lower the margins by 0.5 to 1 percentage points so the company could come up with more offers such as EMI schemes. This strategic move is aimed at improving cash flow and making Apple’s products more accessible to a broader audience in India. By reducing the credit period, Apple ensures that retailers have quicker turnover, which can lead to more frequent restocking and potentially higher sales volumes.
“Apple and its distributors have informed the trade that improvements in cash flow by cutting credit period and retailer margins will help them to invest more in consumer offers like EMI schemes,” said the CEO of a leading electronics retailer, requesting anonymity. “It has also told its trade partners that they don’t have to invest in store-level marketing, which will be done by them.”
The introduction of EMI (Equated Monthly Installment) schemes is particularly significant in a price-sensitive market like India. These schemes allow consumers to purchase high-end devices like the iPhone 6 and iPhone 6 Plus without the burden of paying the full price upfront. Instead, they can spread the cost over several months, making it more manageable and appealing to a larger segment of the population.
Impact on Retailers and Consumers
Apple’s decision to handle store-level marketing also relieves retailers of additional expenses, allowing them to focus on sales and customer service. This move is expected to create a more cohesive and consistent marketing strategy across different regions, enhancing brand visibility and consumer trust.
Apple launched the new iPhone 6 and iPhone 6 Plus last year, with which the company managed to reach several milestones and did record sales. The success of these models has not only boosted Apple’s market share in India but also set a new benchmark for premium smartphones in the country. The iPhone 6 series introduced several innovative features, such as improved camera capabilities, a more powerful processor, and a sleek design, which have been well-received by consumers.
In addition to these features, Apple has also focused on enhancing the overall user experience with regular software updates and a robust ecosystem of apps and services. This commitment to quality and innovation has helped Apple build a loyal customer base in India, which is likely to continue growing in the coming years.
Source: Economic Times
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