iPhone Prices Nose-dive in Mumbai

The Apple iPhone was officially launched in the United States of America on June 29, 2007 and commanded a price of $599 (Rs. 23,621) for the 8GB version. By September 5, 2007 Apple had slashed the price of its 8GB model to $399 (Rs. 15,733) and dropped the 4GB version from its line-up.

Back home, dealers from Mumbai's Heera Panna market say that the iPhone will be officially launched in India in March or April 2008 but then again a not-so-little birdie told us that the iPhone will come to India in the end of 2008.

But a trip to Heera Panna, saw iPhones peering out of the windows of almost every electronics shop. A month back, the cost of the iPhone was a whopping Rs. 52,000. Today, iPhone fans can rejoice as the price of the iPhone in the grey market has dropped to a mere Rs. 27,000 for the 8GB model. The 4 GB version is available for Rs. 24,000. “We have only a few pieces of the 4GB model as people don’t mind shelling out Rs. 4,000 extra for the 8GB model. Moreover, the 4 GB version has been dropped from its line-up,” says Vikram of Sound Out, Heera Panna.

Another shopkeeper added that the stock they ordered a few days ago – 10 8GB models and four 4GB models just sold out and he was awaiting the next order. The volume of phones being sold is rising. Every shopkeeper has claimed to have more than 50 iPhones in the last two-three weeks. “We are going to order for more iPhones as we expect the sales to increase during Diwali,” says one shopkeeper. The shopkeepers also unlock the phone for no extra charge.

The slash in iPhone prices have surely brought good news to iPhone fans who can now make their dream of owning one a reality.