Did Apple make a mistake by pricing its iPhones too high? Some seem to think so, and Apple themselves have quietly acknowledged that as well by cutting the price of their iPhones in certain markets. It turned out to be a smart move because over in India, one of the markets that the iPhone’s price was “corrected”, it’s starting to show positive results.During Apple’s Q2 earnings report, the company’s CEO Tim Cook acknowledged that following the price cuts they made in India, the preliminary results have been positive. That is to be expected given the basic law of supply and demand, where a lower price will no doubt increase the demand.
It had previously been reported that Apple had experienced similar positive results in China following price cuts made in the region. According to Cook, “We have made some adjustments in India and we’ve seen preliminarily some better results there. Everything that we do [referring to pricing actions in China], does advise everything we do in the future so we try to learn the best we can and fold that into our thinking.”
Of course, whether or not Apple will revise its pricings for future iPhones remains to be seen, although it does seem like it should be an obvious move. It was recently reported that the iPhone XR is dominating iPhone sales in the US, suggesting that the iPhone’s price has gotten to the point where customers are willing to give up certain features to save themselves a few hundred dollars.
Filed in . Read more about iPhone. Source: gadgets.ndtv