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Apple Brings Back The iPhone 6 In India, Amid Weak Sales Of Higher-Priced Devices
From StockNews.com: Apple Inc. (NASDAQ:AAPL) has historically struggled to sell its high-priced phones in emerging markets like India, whose cost-conscious consumers prefer lower-priced devices.
To combat this trend, Apple has now brought brought back a blast from the past: the iPhone 6. A 32GB Space Gray version of the phone, which was first released back in 2014, is now on sale in India via select online retailers — including Amazon. The device had been discontinued last year when the iPhone 7 launched.
The pricing is competitive, at 30,000 rupees, or about $450. That’s much cheaper than even the iPhone 6S, which retails for $650 in India.
The reason why Apple is bringing back an obsolete phone is very clear, reports CNET:
India is a key phone market, eclipsing the US in sales in recent years. For the first time, the country will even get its own Mobile Congress this year. However, Apple’s footprint in the country is relatively small, with the company selling 2.5 million iPhones in India last year.
The majority of mobile phones sold in India are priced at $150 or lower, making it very difficult to compete with premium devices. To combat this market reality, Apple is planning to manufacture its phones there, and is also lobbying the Indian government to allow it to refurbish used devices to resell in Indian markets.
Apple also reintroduced the iPhone 6 in China and Taiwan as well, in an attempt to capture larger market share in those cost-conscious markets too.
Apple shares were trading at $139.28 on Wednesday morning, down $0.24 (-0.17%). Year-to-date, AAPL has gained 20.26%, versus a 6.06% rise in the benchmark S&P 500 index during the same period.
AAPL currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 28 stocks in the Technology – Hardware category.
This article is brought to you courtesy of StockNews.com.
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