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The spurt in iPhone sales mirrored the demand for gold and high-value luxury items that shot up in the first few days following the scrapping of Rs 500 and Rs 1,000 notes on the evening of November 8.
In This Pic : Apple sales see huge jump in India
Pic Courtesy : World Reviewer
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Chandra said large retailers and chains like his own stopped accepting old notes after the demonetisation announcement and even saw a fall in sales. But subsequently, they reported surge in demand for iPhones due to decline of grey market, easy availability of consumer finance and wider acceptance of credit cards and digital payment at their stores. "iPhones had a vibrant grey market that completely disappeared after demonetisation, boosting sales in large retail chains," said Subhasish Mohanty , who heads the business at 450 stores of the chains Spice Hotspot, Mobiliti World and UniverCell.
In This Pic : Apple sales see huge jump in India
Pic Courtesy : BCCL
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iPhone sales in November were further boosted by adequate availability of iPhone 7 Plus in the market. In October, Apple had miscalculated demand for the bigger handsets.
In This Pic : Apple sales see huge jump in India
Pic Courtesy : BCCL
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