Desperate to gain a foothold in India, one of the world's fastest growing population and urbanizing economies, Apple Inc has been adjusting its marketing strategy in that country, even tweaking its notoriously high prices to gain market share.

According to a report by ZDNet, Apple has started introducing a range of incentives to make its iPhone more desirable to the Indian market. These included among others trade-in discounts, subsidies for students and a credit card rebate with American Express.

To corner the student population, the students will get 7,777 rupees (US$144) for every old smartphone that is traded-in to a new iPhone. The deal is however not exclusive only to students. Even non-students will receive 7,000 rupees (US$130) based on the same deal.

Apple has collaborated with American Express to give further incentives to customers in that country. Customers who purchase an iPhone with their American Express credit card will get 10 per cent of their purchase back. The American Express credit card must be issued by an Indian bank.

Indian customers who purchase an iPhone 4, 4S or 5 before June 10 with their American Express credit card will be refunded a maximum 6,000 rupees (US$111), as contained in a full-page advertisement published in a local news daily.

Apple sells through a network of local yet authorized retailers in India. Although Apple has no plans to launch its own physical store in India, it targets to increase to triple its "exclusive stores" to 200 by 2015 in the country.

Apple defined "exclusive stores" as official resellers of its products, and only Apple products. They are not owned by Apple but by local franchisees.

There were 19 million smartphones sold in India in 2012, according to IDC. Estimates forecast Indians with smartphones could reach 108 million by 2016.

Read: Apple (AAPL) Shipped the Biggest Tablet Volumes Q1 2013, but Sales Went to Cheaper Samsung, Asus, Amazon

Samsung has the upper hand in that country's smartphone market because of relatively cheaper priced devices.

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