iPhone buyback offer from Jio

Reliance Jio Infocomm Ltd on Friday offered a 70-per cent buyback deal for those who will use iPhone 8 and iPhone 8 Plus on its network for a year with a minimum recharge of Rs 799 every month.  Mukesh Ambani-led Reliance Jio has teamed up with Cupertino, US-based Apple to launch the latest iPhone 8 and iPhone X along with Jio connection in order to garner more users for its telecom network.

Iphone buyback offer with Reliance Jio

The two companies recently announced their partnership in which Jio has promised to buy back the new models of iPhones at an attractive price. As part of the offer, Reliance will buy back the high-end phones after 12 months. In return, customers will get 70 per cent of the price of their iPhone. “We promise a 70 per cent buyback for iPhone 8, 8+ and 10, after one year,” Akash Ambani, Director of Reliance Jio and son of Mukesh Ambani, said at the launch of the scheme.

This scheme is expected to help Apple to increase its sale in India, at the same time more of the high end customers will be attracted towards Jio network. This strategy is a win-win situation for both companies. This is the first time Reliance is offering such a hefty buyback price in a bid to win over high-spending Apple fans whose hunger for data, the company hopes, will boost revenues. Apple is keen to sell more iPhones in India, one of the world's biggest smartphone markets, but the expensive cost of its handsets has kept higher-end iPhones, in particular, out of the reach of hundreds of millions of Indians. For Apple, growing in India is crucial as growth slows at home and in China. The deal will place Apple's iPhones in Reliance and Jio retail stores in 900 cities across the country, giving the company a chance to boost its meagre 3 per cent market share and close the gap with market leader Samsung Electronics. Apple CEO Tim Cook said the newly launched iPhone 8 and 8 plus will be supporting Hindi dictation. “We got a new keyboard for India and we now support 11 local languages. The iPhone now takes dictation in Hindi,” he said in a video message.

The message from Cook was played at an event at Reliance Jio’s corporate headquarters here, where the Mukesh Ambani-led company announced a slew of offers for the latest series of iPhones.