It is the first time Apple iPhone SE is being sold at a price, roughly $300, lesser than in the U.S. where it retails for $369.
To lower prices, Apple has been seeking to set up local production and has been in talks with the Indian federal government regarding issues such as tax concessions.
Whereas, Debit cards users of Axis Bank, Citibank, HDFC Bank, HSBC, ICICI Bank, IndusInd Bank, Kotak, RBL Bank, Standard Chartered, and Yes Bank can also avail this offer. While the details have not been officially announced, a number of retailers across the country have begun to offer Apple's lowest priced iPhone SE from price tags as low as Rs 19,999. Similarly, the 64GB model of iPhone SE, which was being sold at Rs 35,000 to Rs 39,000 earlier will be available at Rs 25,999 to Rs 29,999.
One cannot get this cash back offer for EMI-based transactions and only one iPhone can be bought per card under this offer.
Currently, in the USA, the 16GB variant is available at $399 or Rs 26,125 approximately and the 64GB version is for $449 or Rs 29,399 approx, as reported by FoneArena.
The cashback offer on iPhone SE is reportedly made available from Friday and lasts till March 31st.
Cash back will be posted back to the card "within 90 days", and Gadgets 360 understands only one iPhone can be purchased per card under this offer. The device is offered in two storage variants - 16GB and 64GB. The iPhone SE 6 4GB variant will take on the likes of Xiaomi Mi 5 (Rs 22,999), Moto Z Play (Rs 24,999), Sony Xperia X (Rs 24,999), Google Nexus 5X (Rs 24,999), and OnePlus 2 (Rs 22,999 for 32 GB ROM, 4GB RAM).
Apple shipped 2.5 million iPhones to India past year, with a third coming in the December quarter, according to market researcher Counterpoint, which estimates that three-quarters of smartphones sold in India were made locally. There is the 12-megapixel iSight camera with dual tone LED flash, 4K video recording capabilities and a 1.2-megapixel FaceTime camera with Retina Flash feature. The metal-clad iPhone SE has a large battery that Apple claims will offer up to 14 hours of talk-time.