Apple is working to reduce the sticker price of its latest smartphone in a bid to boost its market share in India.
The Cupertino, California-based device maker is slated to reduce the price of the iPhone XR by 22% from Friday this week.
Market sources indicate Apple will reduce the selling price of all three variants of the iPhone XR device in a bid to gain market traction.
In line with this move, the 64 GB variant of the iPhone XR will sell at INR 59,900 compared to INR 76,900 earlier. The 128 GB version of the iPhone XR will now sell at INR 64,900 compared to INR 81,900 earlier.
The highest variant of the device packs 256 GB of internal storage and will now be available at INR 74,900, a steep drop compared to INR 91,900 earlier.
Observers in India’s smartphone industry noted the latest move by Apple is unprecedented. The iPhone maker traditionally marketed its devices by offering customers a range of cashback offers, no-cost financing, and device exchange programs.
Sources that spoke to the technology press indicated the 18%-22% drop in the selling price of iPhone XR would bring the pricing of the device at par with that of the flagship iPhone model (iPhone 8) launched in 2017.
Other sources noted that factors such as the depreciation of the Indian Rupee against the US Dollar and a slew of import duties had earlier escalated the launch price of Apple’s flagship devices in India.
Apple’s latest move indicates that the iPhone maker is switching to a market operating price (MOP) strategy while selling its devices in India, this may be a response to the tactics of market leaders Samsung and Xiaomi; these Asian brands have bested Apple in India so far.