Apple is stepping up efforts to carry the growth momentum for iPhone 17 in the new year, rolling out various low-interest financing schemes, as supply chains normalise after the festival season rush.
While rival smartphone brands have raised prices, pressured by elevated component costs and a weakening rupee, Apple has doubled down on financing and affordability levers to keep premium buyers engaged by offering no-cost and low-interest loan schemes of up to 24 months.
The financing push follows Apple’s recent crackdown on India’s booming grey-market iPhone trade.
It warned mainline retailers against activating newly sold devices, particularly the high-demand iPhone 17 models, with foreign SIM cards.
The unprecedented warning came after iPhone 17 virtually vanished from Indian shelves, with availability hit by bulk diversion to high-margin markets such as Russia, Africa and the Middle East.
“iPhone 17 supply is back for the domestic market. Apple recently restricted exports by distributors to ensure local customers get priority. With the 24-month no-cost EMI plan — just between Rs 3,000 and Rs 3,500 a month — the iPhone 17 is now accessible to a much wider audience. These schemes are being shared with us to help boost sales immediately,” a retailer told Moneycontrol, requesting anonymity.
Moneycontrol's queries to Apple India didn't elicit a response.
Giving demand a loan boost
The new financing offer comes after Apple scaled back bank cashback benefits on the iPhone 17 series in late November, cutting incentives from Rs 6,000 to Rs 1,000, effectively pushing up the out-of-pocket cost for Indian buyers.
Under the new offer, valid from January 14 to January 31, consumers can choose from multiple financing options, including zero-interest plans for 9, 12, 18 and 24 months, as well as structured down-payment schemes such as 20 percent or 33 percent upfront with zero interest on 12–16 month tenures.
The programme also includes low-interest variants ranging from 4 percent to 17 percent, depending on tenure, sources told Moneycontrol.
The schemes are supported by a broad lender network, including Bajaj Finance (BFL), HDB Financial Services, HDFC Bank (cardless via Pine Labs), IDFC First Bank, ICICI Bank and TVS Credit, ensuring wide availability across both online and offline retail channels.
The renewed push highlights how premium smartphone makers are increasingly leaning on long-tenure credit and EMI schemes to offset higher device prices and softer discretionary spending in the top end of the market, analysts said.
Apple is expected to sustain strong double-digit growth over the next three to four years, driven by surging iPhone demand and a rapidly expanding ecosystem of MacBooks and iPads.
The momentum will be reinforced by a growing offline retail network, a wider premium reseller base and an expanding manufacturing and supply-chain ecosystem, analysts and sources told Moneycontrol.
The iPhone maker's India revenue climbed 18.26 percent in FY25 to Rs 79,378 crore, according to a fresh RoC filings shared by Tofler.
Net profit rose 16.4 percent to Rs 3,196 crore and analysts expect FY26 and FY27 to deliver growth in a similar range.
With iPhones already commanding a 9 percent volume share and a 28 percent value share in India, analysts say Apple's next leg of growth will come from deepening demand in tier 2, 3 and smaller cities.
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