There’s No EMI Option For New iPhones!
The tech giant, Apple has decided about not giving any financial option to the customers over their new flagship smartphones, iPhone 6 and iPhone 6 Plus in India, since the extraordinary demand has already exerted immense pressure upon the supply of new handsets.
Apple had signed a deal with Bajaj Finance and Capital First to give its customers the benefit of zero-interest finance scheme on most of its products. However, the company has now decided about not extending this deal forward to its latest smartphones which were launched on 17 October in the country.
Rajiv Jain, chief executive at Bajaj Finance noted that Apple has not tied up with them for their new products since the company doesn't want to see themselves as being unable to meet the rising demand as compared to the supply.
The company suggested that they will evaluate their decision about not giving any financial options for new iPhones only in the January quarter. Two senior executives close to Apple’s operation confirmed about the same, one of them said, “Apple does not want to take a hit in its margins with interest subvention with the new iPhones, which are selling like hot cake and the demand is more than supply.”
The firm will continue to give away the zero-interest scheme for the old models including iPhone 5S, 5C and 4S. In this scheme, the company in partnership with NBFCs either bears the interest cost of 5 to 6 per cent by itself, and also a small portion is shared with the retailer, depending upon the agreement.
Rajiv Jain, chief executive at Bajaj Finance noted that Apple has not tied up with them for their new products since the company doesn't want to see themselves as being unable to meet the rising demand as compared to the supply.
The company suggested that they will evaluate their decision about not giving any financial options for new iPhones only in the January quarter. Two senior executives close to Apple’s operation confirmed about the same, one of them said, “Apple does not want to take a hit in its margins with interest subvention with the new iPhones, which are selling like hot cake and the demand is more than supply.”
The firm will continue to give away the zero-interest scheme for the old models including iPhone 5S, 5C and 4S. In this scheme, the company in partnership with NBFCs either bears the interest cost of 5 to 6 per cent by itself, and also a small portion is shared with the retailer, depending upon the agreement.
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