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."
Apple is widely believed to launch two new iPhone models along with an iPad model at the event.
Evan Blass of @evleaks has claimed that along with iPhone 6s and iPhone 6s Plus, Apple may also launch a cheaper model called iPhone 6c.
As per reports, the new iPhone model will look just like the existing iPhone 6 but will have better features.
The Apple Music app will be available starting on June 30 in over 100 countries while the iOS 9 is said to be released for general users in September.
Check out features of the Apple Watch which is scheduled to launched in nine countries soon.
Apple is good but Samsung is better as far the customer satisfaction goes in America.
As per rumours, the so called iPhone 6s mini will be similar to that of the iPhone 5s but would have curved screen edges, similar to the iPhone 6 Plus and the iPhone 6.
The phone was announced way back in 2010 and now has lost traction in most of the developed countries.
Apple iPad Air and iPad Mini with retina display models will go on sale in India from December 7 onwards.
Apple reportedly is planning iPhone models with 4.7 inch and 5.5 inch curved screen.