Apple has best-ever quarter in India, revises margins for retailers
- jan
- 12
Since launching the iPhone 6 and iPhone 6 Plus in India in the month of October, Apple has reportedly sold half a million units in the country. That number is double what the Cupertino giant achieved during the same period in 2013. To consolidate its efforts in the country, Apple has introduced a new trade advisory that halves credit period given to retailers (from fourteen days to seven) as well as lowering sales margins by 0.5 to 1 percent.
The Economic Times states that Apple will be able to incentivise customer financing schemes more easily by ushering in the changes.
"Apple and its distributors have informed the trade that improvements in cash flow by cutting credit period and retailer margins will help them to invest more in consumer offers like EMI schemes," said the CEO of a leading electronics retailer, requesting anonymity. "It has also told its trade partners that they don't have to invest in store-level marketing, which will be done by them."
Apple is steadily gaining traction in India, and has sold a million iPhones in the country from October 2013 to September 2014.
Source: Economic Times
