Indian carrier will repurchase certain iPhone models after one year, for 70% of your cost

As Apple's fortunes in China have turned south, the company has tried to pump up sales in India. Of course, as a developing economy, the price of a new iPhone is rather steep which is why the Apple iPhone SE is being manufactured in the country. As recently as last year, the top selling iPhone in India was 2013's Apple iPhone 5s. With the mathematical prowess of an options trader using algorithms to figure out a particular trade, a wireless operator in India has figured out another way to get Indians to buy more recent (and expensive) iPhone models.

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.

source: Reuters

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24 Comments

1. seret6

Posts: 279; Member since: Aug 14, 2013

Desperate Apple?

4. g2a5b0e unregistered

You're not particularly smart, are you?

5. nepalisherpa

Posts: 338; Member since: Jul 17, 2015

I doubt he even read the article.

6. g2a5b0e unregistered

Right. From the sound of it, he barely read the title.

9. darkkjedii

Posts: 31055; Member since: Feb 05, 2011

You shoulda thought more, before hitting post comment.

2. p51d007

Posts: 704; Member since: Nov 24, 2013

LOL, I know it's a 3rd world country, but for the "savings" I can almost buy a pretty good phone!

3. kassana

Posts: 6; Member since: Sep 29, 2017

You forgot to mention the instant discount of Rs 11000 (USD 167) if bought through hdfc credit card. Valid only for 29th sept. That makes it a pretty hot deal.

7. whatev

Posts: 2267; Member since: Oct 28, 2015

The “rupee-starved Indians” part sounds so harsh in my opinion, it could be said differently

12. Alan01

Posts: 616; Member since: Mar 21, 2012

It wasn't meant as an insult. Nonetheless, the connotations are against my own principles. I will change the line. Regards, Alan F.

17. ZEUS.the.thunder.god

Posts: 1116; Member since: Oct 05, 2011

I'm glad you did because it was very low even by PA standards. Every company wants a piece of Indian market not because it's a developing country but because it's one of the fastest growing economies. Tim cook went to India and spent days convincing officials to get apple a deal. How many times do you see apple doing that? Remove the carrier subsidized plans and lets see how many unlocked iPhones sell. In India every smartphone is sold unlocked and for a full price. Do some research for Christ's sake before posting bs.

23. Avieshek unregistered

The iPhone 8 itself costs $980 (as mentioned by your own esteemed article) in India and the iPhoneX costs $999 in US. Look at the comparison, before I even mention how an iPhone is only sold Unlocked. Now, hello Ass! Eating some green vegetables or some real Apples for that matter, may allow some human sense to that brain. I thought the Android users were too rude but I guess, this site, indeed is an iPhoneArena run by above Nazi like self-made-idiots. Please, don't malign the word 'principles'

8. sood.sameer

Posts: 1; Member since: Oct 08, 2013

Rupee-starved Indians? WTF. LOL! This author simply has no idea about India. Can every single person in US afford iPhone? Should you call them dollar starved citizens. I mean common use some mind. Oh ye or should I call PA Authors as "Mind Starved"

10. darkkjedii

Posts: 31055; Member since: Feb 05, 2011

That's a good deal.

11. ullokey

Posts: 178; Member since: Jul 28, 2015

Hahaha Trust Jio at your own peril

13. ibend5

Posts: 24; Member since: Sep 28, 2017

Average Indians pay $1.22 for monthly wireless service? really? as comparison, the cheapest monthly plan in my country is ~$16 for 2GB (+ a few hours of talktime, and few hundred of SMS) :-(

14. enigmaticnuv

Posts: 6; Member since: Sep 09, 2014

Ya in India we pay Rs 399 ( $6.11 USD) for a 3 month plan Daily 1GB 4G data, unlimited calls and unlimited SMS

15. arulexp

Posts: 2; Member since: Nov 19, 2013

it's one time offer for all jio customers, jio customers will get a month of validity only for ₹399

16. Sammy_DEVIL737

Posts: 1529; Member since: Nov 28, 2016

Yup it's miracles of Reliance Jio Network which was introduced last year by India's richest person Mukesh Ambani. The plans are are really affordable & last year when it was launched they gave sim cards for free with 4 month of free calling,sms,internet (4GB/day 4G).

24. Avieshek unregistered

That whichever country is looting you. Even I'm using Jio and even after that they're prepared to reimburse 70% of any iPhone purchased where the iPhone 8 itself costs $980, not to mention the Plus & X models with 256GB variants... They are certainly enabling this after making profits and not making a donation. The Americans are crying for $999 iPhoneX but that's laughable when iPhone8 is priced $980 itself in place like India. America is no less than any other country. It's just superficial how America is portrayed.

18. martin6

Posts: 6; Member since: Sep 15, 2017

In india, every phone is sold unlocked with no carrier plans. If it were to happen in the USA, only a small population would afford the latest iphone

19. rocker91

Posts: 88; Member since: Dec 09, 2016

I don't think so because minimum wage in u.s is much higher than in India. people can afford having and iPhone even by working in McDonald's for 1 or 2 months

22. kabhijeet.16

Posts: 889; Member since: Dec 05, 2012

Good one from Apple. However, I'm not sure how many would prefer this option coz the network of Jio is not great in India. Apple should have partnered with Airtel/Vodafone/Idea for this plan coz the operators have much larger consumer base & better network. India is a far bigger market for iPhones than US or China. That's why every company is targeting India.

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