Apple cuts iPhone 17 cashback offer amid shortage in India: Report
The tech giant Apple has announced that it will be cutting back on its cashback offer for the new iPhone 17 series in India. According to a report by Moneycontrol, the cashback benefit will be reduced from ₹6,000 to ₹1,000. This change is set to take effect from November 22. Additionally, the zero-cost EMI schemes will also undergo some changes. The decision to reduce the cashback offer is reportedly linked to the ongoing supply-chain constraints that Apple is facing worldwide, including in India.
The reduction in cashback offer is likely to impact Indian buyers who were looking forward to availing the benefit while purchasing the new iPhone 17 series. The iPhone 17 series, which includes the iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max, was launched in India in September. Since its launch, the series has been in high demand, but the supply-chain constraints have led to a shortage of the devices in the country.
The cashback offer was one of the key attractions for buyers, and the reduction in the benefit is likely to affect sales. The offer was available on purchases made through certain banks, and the reduced cashback will apply to all purchases made from November 22 onwards. The zero-cost EMI schemes, which allowed buyers to purchase the iPhone 17 series without paying any interest, will also be changed. The new EMI schemes will have a higher interest rate, making it more expensive for buyers to purchase the devices.
The supply-chain constraints that Apple is facing are due to a combination of factors, including the COVID-19 pandemic, component shortages, and manufacturing disruptions. The pandemic has led to a shortage of components, including chips and displays, which are essential for the production of iPhones. Additionally, the manufacturing disruptions in countries such as China and India have further exacerbated the supply-chain constraints.
The shortage of iPhone 17 series in India is not limited to the cashback offer. The devices are also in short supply, and buyers are facing long wait times to get their hands on the devices. The shortage has led to a gray market for the devices, with sellers offering the devices at a premium. The gray market has become a concern for Apple, as it affects the company’s sales and revenue.
The reduction in cashback offer is not the only change that Apple has made to its sales strategy in India. The company has also changed its pricing strategy, with the iPhone 17 series now available at a higher price than before. The price increase is due to the weak rupee and the high demand for the devices. The price increase, combined with the reduction in cashback offer, is likely to affect sales and revenue for Apple in India.
The Indian market is an important one for Apple, and the company has been working to increase its sales and revenue in the country. The iPhone 17 series was launched in India with much fanfare, and the company had expected high sales. However, the supply-chain constraints and the shortage of devices have affected sales, and the reduction in cashback offer is likely to further impact sales.
In conclusion, the reduction in cashback offer for the iPhone 17 series in India is a significant development that is likely to impact sales and revenue for Apple. The supply-chain constraints and the shortage of devices are major concerns for the company, and the reduction in cashback offer is a step to manage the demand and supply. The changes to the zero-cost EMI schemes and the pricing strategy are also likely to affect sales and revenue. As the Indian market is an important one for Apple, the company will need to work to address the supply-chain constraints and the shortage of devices to increase sales and revenue.
About the Author
