iPhone 5s prices down by almost half in three months

Apple has cut prices of the iPhone 5s for the third time in three months and it now stands at almost half of the September price. This move comes as demand for iPhone 6s and 6s Plus has declined after Diwali, said an ET report.

An iPhone 5s now costs about Rs 24,999 from Rs 44,500 in September. This has made the Indian price of the iPhone 5s, the lowest all over the world, said the report.

A senior executive with a top retail chain has been quoted in the report as saying, the iPhone 6s and 6s Plus has again dampened after a brief period of pick up during Diwali, which prompted Apple to successively bring down of iPhone 5s. The source further added that the iPhone was the company's best seller in the Indian market, and that companies rarely drop prices such frequently for popular models.

Also read: iPhone 6s and 6s Plus pre-bookings open now, for India launch on Oct 16

The iPhone 5s accounts for almost 50% of the total iPhone sales in India, say retailers. The company had previously lowered the price iPhone 5s during Dussehra in October and also before Diwali in November.

Also read: Apple slashes price of 6S and 6S Plus by offering buybacks on its previous phones

However, the report also cites that  Apple's move is in line with the company's plans of doubling sales from India in the December quarter, which is a high sales period for Apple globally. The price cut by Apple iPhone 5s is part of its strategy to build a stronger portfolio in the mid-segment smart-phone market.

Also read: Apple iPhone 5S & iPhone 5C launch in India today, RCom to offer iPhone starting at Rs 2599 with two-year contract