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Apple could launch the second-generation iPhone SE as soon as this year, according to a new report, and the name the company picked brings it in line with the other modern iPhones now on sale. "It is unlikely it can go back to the earlier MRP regime for iPhone XR in India now, since it will then be hard to attract consumers after this drop", said an executive.

Apple, in collaboration with HDFC Bank, has dropped the prices of iPhone XR, 64 GB variant, by ₹17,000.

The cut might prompt some Indians to buy the iPhone XR at discounted prices. The iPhone XR's 128GB and 256GB variants are going for Rs. 64,900 and Rs. 74,900 respectively.

The latest water resistant phone, iPhone XS and XS Max were launched in September in India at 13% mark-up price from the previous model. That, obviously, is for the entry-level 64GB iPhone XR, however, the 128GB and 256GB models will also be accessible under this offer.

HDFC debit and credit card holders can get the phone for even lower as they'll be eligible for an additional 10 percent cash back, bringing the effective cost to Rs 53,900.

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Foxconn Technology Group is within weeks of starting trial production of the latest iPhones in India, as Apple Inc seeks to revive its fortunes in the country, people familiar with the matter said. The deal will go live from Friday, April 5, and will be valid until stocks last.

Apple has become a minor player the country, as its higher prices deter customers.

With the global smartphone market saturating, Apple is naturally turning to new territories to find growth, although it has had little success so far. Before the iPhone XR, the iPhone SE was Apple's first compact phone with an affordable price tag. This price range also puts Apple's lowest priced iPhone in direct competition with Samsung's newly launched Galaxy S10 flagship, along with OnePlus and other Chinese flagships. The change in pricing of the iPhone XR is a short-term promotional offer.

Apple has just 1 percent of India's entire smartphone market. The phone was launched previous year alongside the iPhone XS and iPhone XS Max. It shares the same internals as its more expensive iPhone XS sibling and makes up for the design and display compromises by offering a longer battery life than them.