In what is being seen as Apple's attempts to capture the mid-range smartphone market in India, authorised offline sellers have slashed the prices of iPhone SE by almost Rs 10,000.
After the price cuts, the iPhone SE 16GB version is available for Rs 19,999 and the 64GB variant iPhone SE costs Rs 25,999 now.
The news about the price cut on iPhone SE was first broken by Kerala-based retailer, @itnetinfocom.
Apple India is, however, yet to issue an official confirmation on the same.
The cash back offer on the iPhone SE was announced first on Friday March 17,2017, and it will continue till March 31,2017
It is pertinent to note that Rs 5,000 cash back is applicable on credit cards and debit cards from the following banks only: HSBC, ICICI Bank, Indusind Bank, Kotak, RBL Bank, SBI, Standard Chartered, UBI, Axis Bank, Citibank, HDFC Bank, and Yes Bank.
Also, the discounts being offered are being seen as Apple's move to make additional revenue before the close of the financial year. With the recent cut, now retailers are offering iPhone SE for as low as Rs 24,999, coupled with the Rs 5,000 cash back dropping the effective price to as low as Rs 19,999.
Apple had released the iPhone SE launched almost exactly a year ago, with the India launch happening in early April.