A report published on Monday reveals that Apple sold 500,000 units of the Apple iPhone 6
and Apple iPhone 6 Plus
in India during the fourth quarter of last year. Globally, the two new iPhone models have been selling like hotcakes thanks to their larger screens. The iPhone 6
employs a 4.7-inch display while the iPhone 6 Plus
features a 5.5-inch glass. Last year, Apple sold 250,000 units of the Apple iPhone 5s
and Apple iPhone 5c
during the same period. Those two models each were equipped with a 4-inch display. For the year ending in September 2014, Apple sold 1 million iPhones in the country.
Retail terms for the iPhone have been changed in India. Apple announced that it has cut the credit period it gives retailers in the region to seven days, and is reducing its margin by .5 to 1.0 percentage points. Typical terms for Indian retailers from top smartphone manufactures include a credit period of 14-15 days. With 2% of the Indian market, Apple feels secure enough to offer margins of 9% to 11% in the country.
One Indian retailer said that the change in terms will allow Apple to give consumers various payment options. The manufacturer could offer the iPhone in India to consumers willing to pay equal monthly installments for the device.
"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. It has also told its trade partners that they don't have to invest in store-level marketing, which will be done by them."-Anonymous CEO, Indian retailer