The price reduction is to the tune of Rs 2,000.
"We have reduced the prices of iPhone 4 and 4S, which is in line with our pricing strategy internationally," an Apple spokesperson told 'The Mobile Indian'.
Asked about whether this is a clearance sale spokesperson said, "This is our product line and we will continue to sell the iPhone 4, iPhone 4S and iPhone 5 whenever that is launched. Only iPhone 3GS has been discontinued."
While the online retailers like Saholic are already selling the phones at reduced prices, the offline retailers are likely to start offering the new prices in 2-3 days.
Apple spokesperson also told The Mobile Indian, "Apple has appointed Ingram Micro as a retailer for large format retailers and Redington, for distributing through regional channels, for our iPhone business."
As per reports, Apple's biggest manufacturer Foxconn is close to sign a deal with Indian government to set up base in India.
The web is on fire with reports of Apple toying with glass body for its iPhone 8.
The 9.7-inch iPad Pro features an LED-backlit Multi-Touch Retina display with 2048x1536 pixel resolution.
In India, Apple's iPhone SE is to be sold at a higher price tag compared to international markets
In India, the Apple iPhone SE 16GB will be available for Rs 39,000 while 64GB variant will cost Rs 49,000.
Apple iPhone SE is set to be launched in India next month.
The 9.7-inch iPad Pro will be available for purchase from next month onwards.
Apple iPhone SE will be launched in India from April for Rs 39,000 for the 16 GB version.
Besides, Apple is also expected to announce new iOS version (iOS 9.3) along with watchOS 2.2 and tvOS 2.2 during today's event.
Apple is holding an event this March 21 where it is now expected to unveil its latest gadgets.