Apple Made Huge Gains From Rs 500 & 1000 Notes Ban

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Apple Made Huge Gains From Rs 500 & 1000 Notes Ban

Almost every traders have reported low sales due to Rs 500 and Rs 1000 notes ban. But Apple made huge gains from this historic demonetisation announcement. Yes, Apple iPhone sales have shot up in India in the three days immediately following demonetisation, reports Economic Times. As per that report, almost 1 lakh #Apple iPhones were sold out just within three days after Indian Prime Minister Narendra Modi’s note ban announcement on 8 November, 2016, iPhones sales have grown by 20-30% in November. Seems like Apple is the only phone maker to make gains from this demonetisation, while several other handset sales have stepped down.

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Apple Made Huge Gains From Rs 500 & 1000 Notes Ban-Fantoosy
Image Credits: buyiphone7.org

Owner of a leading neighbourhood cellphone store in New Delhi said that, “iPhones were sold out in most of the neighbourhood stores after demonetisation. In fact, on that night (of November 8) itself several stores sold iPhones till midnight. Some even sold them at a premium,”.

The newly launched iPhone 7 and iPhone 7 Plus are currently the top most expensive and also the most popular high-value smartphones available in Indian market and they cost some where between Rs 60,000 to Rs 92,000.

Apple sure seems to have made some huge gains from this demonetisation announcement.

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