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iPhone Sales Increases as Customers buy with Demonetised Notes

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Apple iPhone sales sky rockets in India in the three days immediately following demonetisation as consumers rushed to buy these devices with their phased-out high-denomination notes and stores booked sales through back-dated receipts. As per trade estimates, over 10 million iPhones were sold in these three days, which is around three-fourth of this handset’s average monthly sales.

Hong Kong-based Counterpoint Technology Market Research’s senior analyst Tarun Pathak said the Indian smartphone market will contract by 10% in October-December due to demonetisation. Apple India was on course to reach its estimate of selling 1 million iPhones in the quarter. It had shipped 4 lakh handsets in October, according to Counterpoint. Read more

 

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Sweekar S

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