iPhone in India: Do you remember reading this article – Apple Inc. Experiencing Big Time Growth in India – on InsiderMonkey last week? If you didn’t have the time to check it out just yet, the title pretty much says it all. Apple Inc. (NASDAQ:AAPL) is making big progress in India as the company continues to establish its reputation in the country.
Today, it is time to take a closer look at Apple Inc. (NASDAQ:AAPL) iPhone sales in the country. Just like the company as a whole, the iPhone smartphone is beginning to pick up steam in this market.
Much in the same way Apple began to slowly dominate the Chinese market, the Cupertino-based company appears to be working the same magic in India.
Before we get into the finer details of the reason for the sales growth of the iPhone in India, take a closer look at what AppleInsider had to say about this:
“Market research firm IDC said late last week that sales of Apple products have risen by 400% over the last three months in India, a region the company has largely ‘ignored’ for the past several years as it focused on other emerging markets, such China. Much of the recent progress has reportedly come through a boost in iPhone sales, helped by an “extensive advertising and marketing campaign” on the part of the Cupertino-based company.”
In other words, according to IDC the iPhone is one of the main reasons why Apple Inc. (NASDAQ:AAPL) has been growing in popularity in India.
But that is not all, to learn more about this we need to review a follow-up article by the Economic Times.
More specifically, it is important to take note that Apple has chosen to use an open distribution model. In short, the company is using distributors that are able to offer customers an installment-based payment plan as opposed to paying in full.
In the article, Himanshu Chakrawarti, CEO of TheMobileStore, a national retail chain that operates 1,000 stores, had this to say:
“Apple understands that installments-based payment is an effective tool for bridging the gap between value and affordability. We started the EMI scheme with Apple early this year and witnessed a three-fold increase in sales.”
It appears that Apple Inc. (NASDAQ:AAPL) has found a way to bring its popular iPhone to the Indian market.
What are your thoughts on this growth in India? Do you like the fact that Apple is using an open distribution model?
Check back here for more updates on iPhone in India.
DISCLOSURE: I have no positions in any stock mentioned.
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