In an attempt to encourage iPhone sales in India, Apple offers installment payment plans, trade-in deals, and cash-back offers for American Express credit card customers. According to analyst Sunil Tirumalai, however, Apple’s plans have had an expected positive effect, and as such iPhone sales in India are reported to have increased by between 300 and 400 percent.

The news comes in an article published by The Economic Times, in which Tirumalai comments on the increase in monthly iPhone sales in India:

Compared to average monthly sales of 70,000-80,000 smartphones before the EMI schemes were offered to consumers in India iPhone sales have zoomed up to stratospheric levels, analysts at Credit Suisse said. “From our channel checks we believe that iPhone sales are nearing 400,000 units per month in India – that is nearly 3% share of handset sales for a single top-end product in a market that has long been dominated by low-end feature phones,” Credit Suisse’s research analyst Sunil Tirumalai said in a note to clients that was accessed by [The Economic Times].

Despite the increase in iPhone sales, though, it’s still apparent that the company’s anticipated low-cost “budget” smartphone, which some expect will launch later this year, should encourage handset sales in developing countries such as an India. Though the so-called “iPhone mini” has not yet been announced, it is expected to feature a less expensive polycabornate body.

We’ll keep you updated with further news on Apple’s iPhone sales in India as it becomes available.

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