In an interesting development, the latest data has shown that Apple has sold more units of its iPhone 4 smartphone than iPhone 5 in India.

The older version of the smartphone is available for under Rs 20000 price range in the country and the company is offering a range of attractive offers including zero per cent interest and buyback schemes for the smartphones to push up sales. Apple is gradually expanding its presence in the Indian market in recent times. The technology giant has worked to expand its distribution network and is now investing larger amounts of money on advertising in different regions in the country.

Apple is offering EMI schemes for its handsets in the country and in a new move it is also offering a cash back of around Rs 7000 on exchange of any smart-phone phone with iPhone 4. The company is selling the more than two-year -old smartphone to the Indian customers for under Rs. 20,000 range. Some say that the company might be dumping the product in the Indian as customers in Europe, North America and other markets move to newer iPhone 4S, then iPhone 5 models.

Apple is believed to have realised the potential of the Indian market after remaining at the margins of the telecom market in the country. Some estimates show that Apple can compete for around 250 million middle class customers, whose numbers are ever increasing in the country.