Apple, Jio announce 70% buyback scheme for iPhone 8, iPhone 8 Plus

iPhone 8 iPhone 8 Plus

The iPhone 8 and iPhone 8 Plus are officially getting launched in India today at 6 pm via online and offline retailers across the country. Reliance Jio decided to hold a special event to mark this occasion, even bringing in Apple CEO Tim Cook via a video link to say a few words.

Reliance Jio had made waves last week when it announced that it was offering a 70% buyback and Rs 10000 Citibank cashback to anyone who bought the iPhone 8 and iPhone 8 Plus. It’s made its terms and conditions a bit more clear now so people can understand what exactly their getting into.

The iPhone 8 and iPhone 8 Plus will have to be pre-ordered from Jio’s site, Jio Stores, and Reliance Digital outlets. The website mentions that the pre-booking period is till September 28, but it still appears to be live as of now. Individuals will have to pay up Rs 1999 to complete the process.

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Even Amazon India has tied up Jio to serve up the scheme from September 29 to December 31. It should be noted that there are separate iPhone 8 and iPhone 8 Plus listings on the e-commerce site, one with the Jio buyback scheme and the other without.

The 70% buyback is subject to several conditions. First, an owner will have to commit to a Rs 799/month Jio postpaid or prepaid plan for 12 months. Second, the buyback value is calculated on the basis of the price of the iPhone excluding taxes, so the amount a user gets back won’t be 70% of the official MRP.

Specifications of the iPhone 8 and iPhone 8 Plus:

– CPU: A11 Bionic
– OS: iOS 11
– Display: 4.7-inch 1334 x 750p (8), 5.5-inch 1920 x 1080p (8 Plus)
– Storage: 64GB/256GB
– RAM: 2GB (8), 3GB (8 Plus)
– Camera: 12MP (8)/dual 12MP (8 Plus) rear, 7MP front
– Battery: 1821mAh (8), 2675mAh (8 Plus)
– Connectivity: 4G VoLTE, Wi-Fiac, NFC, A-GPS, GLONASS, Bluetooth 5.0

Third, Jio won’t actually give the amount back in cash. Instead, it’ll issue a voucher which can be used to upgrade to the next iPhone or purchase something from Reliance Digital.

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