Why Apple and HDFC Bank decided to break up their exclusive relationship
About this episode
In the 2024 financial year, Apple sold products worth $8 billion in India. This was a third more than the previous year.
But how did a premium company like Apple that hates giving discounts sell products worth 8 billion dollars in a country as price sensitive as India? Apple obviously knew that its phones were unaffordable for most people in India?
It found an answer was easy financing. After the Covid-19 outbreak in 2020, Apple made financing tie-ups with banks a mainstay. And one of the most important deals Apple made was with India’s largest private sector lender, and leading credit card issuer HDFC Bank. In fact, it was one of the costliest deals HDFC had. Thanks to it, HDFC customers have been enjoying exclusive cashbacks on Apple products ever since.
Here’s the bad news. The deal between Apple and HDFC is now over.
What happened?
Tune in.
Get every episode summarized
Each time Daybreak publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
Hosts & guests
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
More from Daybreak
This week in AI: activist robots, doom-laden researchers — so who's the good guy...
Daybreak
India has more tourists than ever. So why is tourism in trouble?
Daybreak
The Government sold Air India to escape its problems. The fix is to buy back in
Daybreak
Nykaa cracked fashion at last. Myntra sees no reason to panic
Daybreak