As Apple refreshed its luxury iPhone line-up last week, Manu Jain who is Vice President, Xiaomi Global and Managing Director, Xiaomi India, tweeted: "Choose wisely -- MI (Xiaomi) or EMI".
As Apple refreshed its luxury iPhone line-up last week, Manu Jain who is Vice President, Xiaomi Global and Managing Director, Xiaomi India, tweeted: “Choose wisely — MI (Xiaomi) or EMI”.
Jain reacted to a follower who mentioned that one has to shell out Rs 12,075 a month as zero-cost EMI for a period of one year to own the 512GB variant of iPhone XS Max that will come for a mind-boggling Rs 144,900 in India.
Apple this month announced two other new models. The iPhone XS with 512GB storage model will cost Rs 134,900 and the cheapest of the lot, the iPhone XR, has a starting price (64GB) of Rs 76,900 in India.
The message from the $1 trillion company is loud and clear: Come what may, either own a new iPhone with a higher price tag or adjust with older and discounted models.
Here is the truth: Apple shipped 63 million iPhone X’s (now discontinued) till August this year. According to Counterpoint Research, iPhone X is on track to become the most successful revenue and profit-generating iPhone ever.
These 63 million-odd consumers are set to upgrade to new “luxury” iPhones – down payment or via EMI route — so the global smartphone powerhouse is safe here.
India contributed to just one percent of the total iPhone X shipments till August. In 2017, Apple sold nearly 3.2 million iPhones in India and the company does not appear to be either in a panic or aggressive mode to change the status quo at the moment.
The company is also not in a mood to compete with Xiaomi or other Chinese brands but aims to keep its brand image and aspirational value intact, say experts.
“Apple remains a luxury brand and this has been their overall strategy for years. India is not in the list of top 10 global markets for them when it comes to new iPhone launches. The company has a strong loyal base globally who will buy its devices despite the hefty price tag,” Jaipal Singh, Associate Research Manager, Client Devices, IDC India, told IANS.
“For the Indian market, Apple will never compete with Chinese brands by lowering prices of new iPhones,” Singh added.