Apple has been making moves over the last year to expand its market share in India after its net profit for their India devision increased 431 percent year to year. Tripling the amount of franchise stores in the country? Check. Trade-in incentives? Check. Now the incentives are continuing with expansions for college students and American Express customers.
The first incentive is designed to draw students into picking up an iPhone. Currently non-student residents who trade-in their smartphones for an iPhone get 7,000 rupees (US$130). Students, however, get 7,777 rupees (around $144) for their trade-in.
Apple’s other new incentive is targeted at American Express owners and offers 10% cash back towards the purchase of an iPhone 4, 4S, or 5 before June 10th. The maximum refund from Apple is 6,000 rupees ($100). Both incentives were announced via print ads in the news daily publication Mint.
At the end of Q4 2012 Apple controlled 15.2 percent of India’s market, placing the company in second place behind competitor Samsung holding 38.8 percent of the market. Apple’s pricing incentives seem to be working. Last month, Samsung has been offering up to 15 percent cash back in India.