In a move aimed at giving tough competition to its South Korean rival Samsung, Apple has relaunched 8GB version of its old iPhone, the iPhone 4 at Rs. at Rs 22,900 for Indian market. It was previously launched in 2010 with a price tag of Rs 26,000.

Another report earlier by ET had suggested that it could make a comeback with the price tag of Rs 15,000 with EMI. Many, however, argue that Apple may not sell the device at a price as low as suggested by the newspaper.

The Apple A4 features a 1GHz single core Cortex-A8 CPU and a PowerVR SGX535 GPU. With 512MB RAM. It has a 5MP main camera, and 1420mAh Li-Po battery. It comes with a 3.5-inch 640 x 960 pixel IPS LCD screen.

But the question that everybody should be asking is-who would buy it when other smartphones with riches features have inundated the market since 2010?

A TechCrunch report also said that the device could be offered with buybacks and EMI schemes.

According to the report, apple is turning to its popular old handsets to increase itsmarket share in India which is dominated by Samsung and domestic player Micromax.