Apple announced earlier this week that it was slashing the price of the iPhone 5s handset in India by 50%, effectively marking the 3rd time that the company has made such an adjusted in the last few months, and bringing the base-model sticker price down to 24,999 rupees (approximately $372) from 44,500 rupees (approximately $663) — where it stood just one month ago.
According to Times of India, the previous two price adjustments took place around the time of the Dussehra and Diwali Hindu festivals, and the latest price slashing comes as Apple hones in on its efforts to increase the company’s presence in the country.
The company’s newest initiative is to, at the least, double sales of the iPhone in India during the holiday quarter — a country where Apple’s main competitors are the similarly priced A and E series handsets from Samsung.
Apple has struggled to gain a significant marketshare in India until just recently, primarily because a trifecta of threats — including high import taxes, a weak rupee, and lower wages compared to the West — have rendered prices of Apple’s iPhone out of the majority of people’s financial reach.
A base-model iPhone 6s, for comparison purposes, was priced at 62,000 rupees (approximately $995) when it launched this October, which means that Cupertino’s latest and greatest iPhone is a full $306 more expensive than it is in the United States.
The company has gained significant marketshare in the country over the past year, however that surge in growth has been primarily attributed to generous discounts, buybacks, installment options, and a vast reseller network.
Conversely, even despite the surge in growth, the prevalence of iPhones in India is dwarfed by similar, more economically priced offerings from Samsung and Micromax.
The iPhone 5s is currently the most popular iOS device in the country.