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 Airtel introduces EMI option for iPhone

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PostSubject: Airtel introduces EMI option for iPhone   08/09/08, 02:21 pm

With Indian consumers finding it expensive to buy the iPhone 3G at Rs 31,000, Bharti Airtel has partnered three banks to offer the much-hyped phone on a monthly instalment basis.

Bharti Airtel, in partnership with VISA, will offer easy financing options for all VISA cardholders of ICICI Bank, HDFC Bank, SBI Cards and Citibank.

Revolutionary Phone


“Our partnership with VISA will provide a new opportunity for consumers, who aspire to own the revolutionary iPhone 3G,” said, Mr Sanjay Gupta, Chief Marketing Officer, (Mobile Services) Bharti Airtel. “The EMI option is designed to make it simple, convenient and affordable. We are confident that initiatives such as these will further widen the market of iPhone 3G in India.”

Consumers with ICICI Bank credit card can purchase the 8Gb iPhone by paying Rs 2,583 a month in 12 instalments. In this case, customers will end up paying Rs 30,996 at the end of one year. SBI card holders can buy the phone for Rs 1,654 a month in 24 instalments. The 16 GB iPhone, priced at Rs 36,100, can be bought for an EMI of Rs 3,008 for 12 months. There is no upfront payment.

The product has so far received a lukewarm response from Indian consumers. According to industry estimates, both Bharti Airtel and Vodafone Essar have not been able to sell more than 1,500 phones during the first week of launching the product.

The primary reason for the slow pick-up is the pricing. At a minimum price of Rs 31,000, the iPhone is beyond the reach of most mobile enthusiasts in the country, who are now waiting for the operators to reduce the cost.

While both Airtel and Vodafone said it was too early to give out the official sales numbers, industry sources indicated that the operators might have sold 50-60 phones a store on an average on the first day, which has since petered down to an average of about 10.

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