While the iPhone 8 buyback offer will obviously help Jio sell more units from its platforms, it will also help Apple expand in India, where its market share is 3 percent. Apart from possibly lifting Apple sales in India, the move could also draw more high-paying customers to the Jio network.
Cupertino, California-based Apple is keen to sell more iPhones in India, one of the world's biggest smartphone markets, but the high cost of its handsets has kept higher-end iPhones in particular out of the reach of hundreds of millions of Indians.
With the Apple deal at the high end of the spectrum, Jio is also working to woo cost-conscious aspirational smartphone buyers at the lower end with a $23 4G phone that blurs the line between a smartphone and a traditional feature phone.
The company, which has signed on 128 million users in less than a year via cut-price deals, is now eyeing between 250-300 million customers in the next two years, a source has told Reuters.
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