The Cupertino-based tech firm now holds less than 2-percent of share in India's smartphone market, mainly on account of its cost-competitive market. "It is unlikely it can go back to the earlier MRP regime for iPhone XR in India now, since it will then be hard to attract consumers after this drop", said an executive. The company is dropping the selling price of all the three variants of iPhone XR - the 64 GB will be sold at Rs 59,900 as compared to Rs 76,900 earlier, while the 128 GB will be sold at Rs 64,900 from Rs 81,900 earlier and the 256 GB model will be sold at Rs 74,900 from Rs 91,900 earlier.
The cut might prompt some Indians to buy the iPhone XR at discounted prices.
The latest price revision is applicable to all variants of iPhone Xr. That, obviously, is for the entry-level 64GB iPhone XR, however, the 128GB and 256GB models will also be accessible under this offer.
The company, in association with HDFC bank, has offered a special cash-back of 10% for HDFC customers in India.
Accoding to the report, Wistron, which previous year announced plans to invest Rs 3,000 crore in the Narasupra industrial sector in Karnataka's Kolar district, started Apple operations with assembling low-end iPhone SE and later iPhone 6S.More news: United States presidential candidate Bernie Sanders raises $18mn for campaign
Looks like Apple has finally chose to reduce the iPhone XR price in India.
Reuters' sources say the pricing for the other two storage models have also been lowered, but that the pricing is a "short-term promotional offer".
Reductions in pricing for other iPhone models could follow soon.
Apple will be offering a discount of Rs 17,000 on the maximum retail price (MRP) of its new iPhone XR models across sales channels.
Indeed, Indian continues to be a very price-sensitive market, and Apple will struggle to shift some of its high-end stock in a market where the iPhone costs more than four months' wages.
"Apple has not capitalised on the ground potential - India will cross half-billion smartphone users this year", Neil Shah, research director at Counterpoint Research, said.