KOLKATA:
Apple has slashed prices of its Indian bestseller iPhone 5s for the third time in three months, bringing them down to almost half of September levels, in a bid to shore up sales as demand for iPhone 6s and 6s Plus has nosedived after Diwali.
iPhone 5s prices now starts at Rs 24,999, down from Rs 44,500 in September. This makes Indian price of iPhone 5s one of the lowest globally, despite the depreciating
rupee and higher import taxes making India among markets where Apple products cost the most, retailers and analysts said.
"iPhone 6s and 6s Plus sales has again dampened after a brief period of pick up during Diwali, which prompted Apple to successively bring down price of iPhone 5s," a senior executive with a leading retail chain said. "This is interesting since iPhone 5s has been their best seller in the
Indian market and companies seldom drop prices such frequently for popular models," he said.
Retailers say iPhone 5s accounts for almost 50% of total iPhone sales in India. Apple had lowered the price of iPhone 5s during Dussehra in October and then again before Diwali in November. An email sent to Apple did not elicit any response as of press time Sunday. According to trade sources, the US tech giant's latest move is triggered by its plans to double India sales in the crucial December quarter, a high sales period for Apple globally as it's the launch period of new iPhones. Analysts said Apple's price cut of iPhone 5s is part of its strategy to build a stronger portfolio in the mid-segment smartphone market.
"The $250-400 (Rs 16,000-Rs 27,000) price band is where Apple wants to focus its energies in India since they want to lock in more consumers into their eco-system which would build up a base for upgradation when newer iPhones are launched," said Tarun Pathak, senior telecom analyst at Counterpoint Research.
Pathak said this price band is one of the least competitive and where Indian consumers typically look for the brand factor in purchase. He said the total number of consumers in India in the
iPhone 5 series was 1.2 million until September 2015, of the total number of 3.5 million iPhone users who either own the older or latest model. Retailers said the price cut would help Apple compete better.
"Samsung's A and E series smartphones are operating in this price band, but the Korean company has not yet launched any newer models in these segments, hence Apple can significantly gain share this quarter," a senior executive with a leading cellphone chain said.
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