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RJio's buyback option on latest iPhones may boost Apple's India presence

Apart from possibly lifting Apple sales in India, the move could also draw more high-paying customers to the Jio network

iPhone 8 and iPhone 8 Plus
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iPhone 8 and iPhone 8 Plus

Reuters
Reliance said on Friday that customers of its Jio telecoms unit who buy the latest Apple iPhone models from partner stores could sell them back in a year at a guaranteed price, a move that could help the U.S. tech firm expand in India.

The offer, which comes during the Indian festive season when discretionary spending typically rises, assures customers buying iPhone 8, 8 Plus and iPhone X models through Jio that they will get back 70 percent of the cost after a year of use.

Apart from possibly lifting Apple sales in India, the move could also draw more