A new report from the Economic Times reveals Apple sold half a million iPhones in India during the final quarter of 2014. The report uses data from Counterpoint Research, and the publication notes the data was corroborated by “leading trade partners.”
Apple has also halved the credit period offered to resellers, from the standard 14 days offered by most manufacturers to 7 days, and sliced between 0.5% and 1% offered the 9-11% margins offered on iPhones (rates varying by sales performance). The company is promising to invest the savings in consumer financing offers and marketing, to assist resellers in increasing sales.
Apple sold only around 1 million iPhones in India for the entire year of 2013.
While Apple does not operate company stores in India – instead working with a mix of Apple Premium Resellers and Apple Shop areas in other retailers – a December report noted the company plans to expand its reseller network into smaller towns, looking to add 500 new dealers.