India is home to 1.24 billion people. As such, the second most-populous nation (after China) is among the fast-growing markets for smartphones. Brazil, Russia, India and China have a collective population of nearly three billion people and as such these so-called BRIC markets are estimated to each overtake the United States in smartphone sales by 2018.
India is particularly important to Apple so Tim Cook & Co. in past few months rolled out a series of initiatives aimed at making it easier for cash-strapped consumers to purchase an iPhone. Apple's premium pricing strategy coupled with high import taxes and low average pay put the iPhone out of reach for many average Indians so the firm is now launching a new smartphone trade-in program in co-operation with local resellers...