Every iPhone launch has been described as a glam sham, but with the launch of iPhone 7 and iPhone plus last week, Indian telecom giant Airtel sought it as an opportunity to cash in on the craze of iPhone's in the country.

Apple iPhone 7 was launched in India with a starting price of INR 60,000 for 32 GB variant and INR 70,000 for 128 GB, and several online as well as offline retailers have been offering multiple offers.

Keeping in mind the ongoing festive season, Airtel launched its "iPhone for life" plan, under which users get to move up to new iPhone every year without any additional charges through a simple set of steps. It starts with paying the initial amount (downpayment) and select Airtel post-paid monthly plan of your choice with unlimited voice and roaming.

Now, the offer may sound too good to be true. Sure there is a catch, so it pays to dig a little a deeper to know more about the real deal.

Airtel's Apple web page draws up with headline, "Now Enjoy an iPhone 7 at just INR 19,990 with Airtel Postpaid", selling up 32 GB variant of iPhone 7 with initial down payment of INR 19,990 along with selection of one of its yearly post-paid plans, starting from INR 1,999 (plus 14.5% tax) per month with unlimited voice and roaming plus 5GB Data, just like the contractual plans in the United States.

Moreover, this is an "Enterprise offer" currently available in only Noida and Karnataka.

After the period of 12 months, users have an option to trade your current iPhone with the most recent from the same store you purchased. Otherwise, for users to keep it, they need to pay a "balloon payment" of INR 24,000 for 32 GB version and more for others.

Henceforth, the aggregate sum paid following a year will be: INR 19,990 + INR 27,600 + INR 24,000 = INR 71,590, whereas the current price is just INR 60,000 without any contract.

How about that?