Seems like buyback is the latest way to penetrate into a jampacked smartphone market in India. The concept was started by Apple when it decided to focus on Indian market and later, Samsung, Blackberry, Nokia and Sony followed the suit. South Korean smartphone maker LG has become the latest player to announce a buy back scheme.
On purchase of Optimus G Pro, LG is offering upto Rs 7000 off, if you offer your old smartphone for exchange.The scheme may get you the Optimus G Pro for Rs 32,999 if you decide to get rid off your old smartphone. The actual market price for Optimus G Pro is close to Rs 35,000. Along with this, the customer will also get a two year warranty as compared to the regular one year warranty which is offered with these handsets.
However, the important thing to note here is that the discount is offered on the best buy price rather than the market operative price. As always, the best buy price for the handset has been inflated in the buyback scheme. Hence, the customer needs to be doubly sure about the parity of best buy vs market operative price. The market price of the device is around Rs 35,500.
Apart from this, LG is also offering the device with 0 down payment, 0 percent interest and 0 processing fees on selected credit cards, if it is purchased from selected LG shops in selected cities in India.
The company has not yet made it clear as to which other phones are going to be available under the buy back scheme. However, looking at the pace at which all the smartphone makers are bringing out such schemes, one thing is for sure- the smartphones are no more a niche market product and everyone wants to latch on to the bonanza.