The move is seen as an effort to increase their presence in the world’s fastest growing smartphone market.
The iPhone 7 Plus managed 2.8 percent of all sales in the world's largest smartphone market, according to data from Counterpoint Research released Monday. Apple's large-screen device trailed the Oppo R9s which gained 3 percent market share.
Apple announced the iPhone 8 and iPhone 8 Plus that will be available for sale in India starting September 29. The iPhone X, however, will be available starting November 3, 2017. Now the older versions of the iPhone a.k.a. iPhone 7, iPhone 7 Plus, iPhone 6S and 6S Plus get a massive price cut.
Apple iPhone 7 Plus, with a bigger screen and higher price, shipped 17.4 million units for second place and 5 percent market share worldwide in first quarter of 2017, according to market research firm Strategy Analytics.
The discounts are being offered on iPhone 7, iPhone 7 Plus, iPhone 6, iPhone 6S and the iPhone SE.
The results showed strong demand for Apple's iPhone 7 models launched last years, even as profits dipped 2.6 percent to USD 17.9 billion.
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A new distribution centre would ensure that supplies of its flagship products don't run out, especially in retail stores. In October, the stock for iPhone 7 and iPhone 7 Plus ran out well before it could meet the tremendous demand.
During its first fiscal quarter, the company said it expects revenue in the range of USD 76 billion to USD 78 billion, beating the USD 74.9 billion expected by analysts polled by StreetAccount. That would compare to USD 75.9 billion in January of last year.
The iPhone came to represent the company's main source of revenue, and ever since, it reported year-over-year growth in sales and shipments of the product.
The South Korean electronics giant discontinued the Note 7 -- one of its key iPhone challengers -- on October 11 following reports that replacements for combustible models were also catching fire.
The company processed transactions for over 11 million units during the October 2-6 sale, but lagged behind its rivals Amazon and Flipkart.
The Apple iPhone 7 went on sale across India today and the ifrenzy has has spread across the country as Apple fans rush to their nearest stores to buy the newest release from the tech giant.
Delivery executives are gearing up across Bengaluru, Delhi/NCR and Mumbai to surprise several lucky customers at the exact time when the clock strikes 7PM. Thousands of customers across India have pre-ordered the iPhone from Flipkart.
Good news for Apple lovers as e-commerce majors Flipkart and Amazon on Friday started pre-orders for the much awaited Apple iPhone 7 & iPhone 7 Plus. Both the smartphones will be officially available in India from October 7.
Customers can pre-order the phones from Thursday, September 29 at 23:59 hours from the company's website, Flipkart said in a statement.
With this partnership, Flipkart can now procure the latest iPhone 7 and iPhone 7 Plus smartphones directly from Apple, making it the only authorised online reseller for all Apple products- Mac, iPad and iPhone, according to a report by BGR.in. Note that Infibeam can only sell iPhones and iPads, according to the official Apple India website.
According to the customary IHS teardown that follows the launch of any digital object of desire, if the cost of the latest iPhone were based purely on its materials plus the labour required to put it together, it would come with a USD 224.80 price tag.
Including USD 5 in basic manufacturing costs, total cost to manufacture the iPhone 7 mobile rises to USD 224.80, USD 36.89 higher than the business research provider's estimates for the iPhone 6s.
Scenes in Apple stores around the world yesterday were reminiscent of days before online ordering became a norm and people camped out for days to be first to get hands on the California company's iPhone 7 and 7 Plus.
But underneath the usual fanfare, the crowds of enthusiasts and overnight campers were smaller than in past years. Some customers complained after the larger version and models with the new jet-black colour sold out.
The iPhone 7 and iPhone 7 Plus, launched earlier this month in the US, are slated to hit the Indian market from October 7, with prices starting at Rs 60,000.
Supplies of the larger size of Apple's new phone have been exhausted in all shades, and the smaller iPhone 7 has also sold out in the new jet black color, the company said.
Users can also reserve and iPhone to buy in store on the company's website. Almost all Apple premium partners in India like, Unicorn have also started the pre-booking process with an advance payment of Rs 5,000. Apple iPhone 7 and 7 Plus are all set to be available in India on Octover 7, 2016.
The company decided to stop the practice because the number of phones sold during the period has become more a reflection of Apple‘s supply than demand, a company spokeswoman said, when asked whether Apple will be releasing the figure.