In addition, HDFC debit and credit card holders will be eligible for 10 per cent additional cash back from Friday
Starting this Friday, Apple is reducing the selling price of the latest iPhone XR by up to 22 per cent to boost sales, senior industry executives told ET.
The move is seen as a new strategy for dealing with stiff competition in the premium smartphone segment in India, where Apple is in the third position as per latest data from market trackers.
According to the executives, this is the first time Apple has reduced the selling price for its latest and flagship iPhone models. The marketing strategies the company usually apply include cashback offers, no-cost financing and exchange programmes.
The company is dropping the selling price of all the three variants of iPhone XR – the 64 GB will now be available at Rs 59,900 as compared to Rs 76,900 earlier, while the 128 GB will be sold at Rs 64,900 from Rs 81,900 earlier and the 256 GB model at Rs 74,900 from Rs 91,900 earlier.
10 per cent cashback for HDFC Customers
In addition, the company will run a limited period cashback programme from Friday on HDFC Bank cards offering 10 per cent cashback. This means that the effective price of iPhone XR (64GB model) for HDFC consumers will be Rs 53,900.
The HDFC cashback will be offered to both credit and debit card customers.
However, the sticker price or maximum retail price (MRP) of the iPhone XR in India will remain the same. Like its competitors Samsung and Xiaomi, Apple is also adopting the market operating price (MOP) strategy in India, wherein the official consumer selling price is lower than the MRP.
The latest iPhone XS was released in India in October last year.