Buoyed by the tremendous success of iPhone sales in India, Apple has reportedly introduced another buy-back scheme, this time for the iPhone 4 (16GB) model.

Prospective buyers can trade in their old smartphones to get a discount close to ₹8,000, thereby reducing the MRP (Maximum Retail Price) of the 16GB iPhone 4 from ₹31,800 to ₹23,800.

The American company is also offering a six-months EMI scheme with an option of ₹3,967 as down payment.

A few months ago, Apple had offered similar incentives for 8GB iPhone 4 model (₹26,500) and iPhone 5 (16GB) with up to ₹7,000 cash back. Thanks to those creative marketing campaigns, Apple had reported that its iPhones sales rose to a staggering 400-percent in India.

The company also tried similar tactics with iPad tablets sales and also introduced 'Back to School' offers for Mac Book notebooks.

Key features of Apple iPhone 4:

Model Apple iPhone 4
Display 3.5-inch DVGA Retina display with 640x960p resolution, finger print resistant coat and mercury-free LED back-lit display
OS Apple iOS update v6.1.3 available
Processor ARM Cortex-A8 processor (chipset type: Apple A4)
GPU PowerVR SGX535 graphics engine
RAM 512MB DRAM
Storage Capacity 16GB (non-expandable)
Camera Main: 5.0-megapixel camera with LED flash support, illuminated sensor, 5x digital zoom, 720p HD video recording at 30 fpsFront: 0.3-megapixel VGA camera, 480p video recording at 30 fps
Battery Li-Ion battery with 1,420 mAhTalk time: up to 14 hours

Stand by time: up to 300 hours
Network 2G & 3G
Add-ons Wi-Fi (802.11 b/g/n), Bluetooth v2.1 + EDR, A-GPS, EDGE
Dimensions 115.2 x 58.6 x 9.3 mm
Weight 137 g
Price MRP: ₹31,800. Price lowered to ₹23,800 after discount.