Bangalore: Apple, in a bid to lure more consumers to switch to iPhone, has come up with new schemes, such as trade-in discounts, subsidies for students and a credit card rebate with American Express, reports ZDNet.

In exchange for the old Smartphones, a student can get as much as 7,777 price cut upon buying an iPhone, and a non-student 7,000.

If you purchase an iPhone 4, 4S or 5 before June 10new, with your American Express credit card, issued by an Indian bank, you will get ten percent cash back, which counts to 6,000. However, the cash back offer is only valid on AmEx credit card, but along with other Apple outlets; you can also avail the offer at Apple distributors in India such as Redington and Ingram Micro.

According to the scheme, you will receive 4,550 upon purchasing an iPhone 5 (16 GB) on six monthly installments of 2,374, plus a 9,990 rupees down payment.

Canalys, a consulting and market analysis organization, estimated that there were 2.5 million iPhones in India at the end of last year. It also predicted that Apple would enjoy significant growth in 2013 because of the recently launched installment plans.

Last month Samsung too introduced a scheme that offered 15 percent cash back on its ‘Note’ Smartphones, following in the footsteps of its bitter rival Apple.

Read: 10 Worst Betrayals In Tech World Also read: 12 Most Admired Tech Companies In The World