Indian carrier will repurchase certain iPhone models after one year, for 70% of your cost
The Jio telecom unit owned by India's Reliance is offering a buy-back deal involving Apple's iconic smartphone. Those purchasing certain iPhone models for the Jio network will be allowed to sell the handset back to the carrier a year after purchase, for a guaranteed price. It's akin to knowing in advance how much you will be able to get for your iPhone a year after you buy it.
The guarantee is available for those buying the Apple iPhone 8, Apple iPhone 8 Plus and the Apple iPhone X. Once a year has gone by, any of those three models can be returned to Jio for 70% of the original cost of the phone. There is one caveat. To qualify for this option, the Jio customer must sign up for a plan that offers wireless service for 799 rupees ($12.22 USD) a month over 12 months. That is nearly ten times the average monthly cost of 80 rupees ($1.22 USD) that the average Indian consumer pays each month for wireless service in the country.
To put this buy back option in perspective, let's run through the math. The Apple iPhone 8 is priced at 64,000 rupees in India. At current exchange rates, that works out to $980 USD. With the buy back plan, the amount returned to the iPhone 8 buyer after one year would be 44,800 rupees or $686 USD.
Not only should the buy back deal increase Apple's 3% market share in India, it is also expected to add more moneyed subscribers to Jio's customer list.
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