In an attempt to improve iPhone sales in India and challenge rival Samsung for market share, Apple is reportedly planning on launching the less expensive 8 GB iteration of its iPhone 4.

The news comes in a recent report from The Times of India, which explains that the 8 GB iPhone 4 will be priced at around Rs 15,000 “through buyback and EMI schemes.” As such, the 8 GB iPhone 4 will be available for Rs 11,500 less than its previous retail price of Rs 26,500, and Rs 38,500 less than the cost of Apple’s iPhone 5s in India (which is available for Rs 53,500).

According to the publication, “a senior executive at a top electronic retail chain” said:

While there is still a latent demand for the iPhone 4 due to its attractive price in India, the model has lost favour in matured markets and hence it may not make sense for Apple to start fresh production since it follows economies of scale.

Apple’s iPhone 4 first launched in India back in May 2011, and though the smartphone had been available up until late 2013, Apple stopped selling the handset in an effort to promote sales of its more expensive offerings.

The same executive noted: “Apple’s iPhone 4 8GB model used to rank amongst the top three selling models by unit sales and fight neck and neck with Samsung, but with its exit the company lost much ground.”

He added that in his retail chain of more than 100 stores, the 8 GB iPhone 4 used to account for up to 20 percent of sales in the Rs 15,000 to Rs 20,000 band, while Samsung used to hold a 50 percent share. Now Apple no longer sells the 8 GB iPhone 4, however, Samsung accounts for 70 percent of these sales.

If a different senior executive has it right, Apple could bring the 8 GB iPhone 4 back to India as early as next week. We’ll keep you updated with further information as we receive it.

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