Apple’s interest in the Indian smartphone market has been growing fast over the past few years, but reports claim that the latest device from the company, the iPhone SE, has not been successful at attracting a large number of customers in the country. Therefore, the U.S. firm has come up with a lease option allowing users to pay Rs. 999 per month for two years, reports the Business Standard.

Apple Introduces EMI Option To Push Slow iPhone SE Sales In India

Lease option to boost iPhone SE sales

Sales of the device have been less than spectacular, and Apple believes they will be boosted with the new way of purchasing the device. The leasing plan is similar to what carriers in the U.S. offer, with Rs. 999 being the equivalent of roughly $15. Apple is making sincere efforts to promote this lease offer and has given full-page ads in a variety of local newspapers. Individuals and corporate entities are the target as it hopes that the low monthly cost of the device will tempt them to purchase it in mass quantities.

In India, Apple has offered similar leasing options for its other devices, the iPhone 6 and iPhone 6s, at Rs. 1,199 (approx. $20) and Rs 1,399 (approx. $23) a month, respectively.

Apple offering upgrade option also

Apart from this, Apple is also allowing customers who agree to lease the iPhone SE for two years the option of switching to another iPhone at any time, provided they pay the change in monthly fee. With such a move, the company is hoping to make it easier for users to become committed to the iOS ecosystem.

A vendor said, “The brief is to make the phone more affordable to the user. Hopefully, this would help drive more volumes.”

Over the past year, Apple has expanded its efforts in India at a fast pace, and as a result, its sales in the country have been record breaking. The U.S. firm will soon be opening retail stores in the country, and one of them is expected to be the equivalent to the iconic Fifth Avenue store in the U.S.

Earlier this year in a company-wide town hall meeting, CEO Tim Cook stressed that the company will continue its expansion in India. The iPhone SE has been a big hit in China with preorders for the device already exceeding 3.4 million units. However, other supply chain sources claim that though demand is high, it is not high enough to offset declining iPhone 6s sales.