Apple has cut the prices of its iPhones in India. Customers can now save between ₹5,100 and ₹6,000 on Pro and Pro Max models. This price cut follows a reduction in customs duty announced in the Union Budget 2024. iPhones Now Up to ₹6000 Cheaper Across All Models
iPhones get ₹6000 Cheaper
Apple reduced prices by 3-4% across its entire range of iPhones. This has led to iPhones Now Up to ₹6000 Cheaper. The iPhone 13, 14, and 15 models are now ₹300 cheaper. The iPhone SE has seen a price drop of ₹2,300. This is the first time Apple has reduced the prices of its Pro models. Normally, the company discontinues Pro models after launching new ones. Dealers and resellers usually offer discounts to clear old stock, but the maximum retail price was not reduced before.
Reason for the Price Cut
The price reduction came after the government lowered the basic customs duty on mobile phones from 20% to 15%. The duty on printed circuit board assemblies and mobile phone chargers was also reduced. This budgetary change has decreased the total customs duty on imported smartphones to 16.5%. This includes a 15% basic duty and a 1.5% surcharge.
Imported smartphones in India now attract an 18% GST and a 16.5% customs duty. Locally made phones only have the 18% GST. Currently, 99% of iPhones sold in India are manufactured locally. Only select high-end models are imported.
Apple decided to pass on the savings from the reduced customs duty to consumers. This move is expected to boost sales and increase Apple’s market share in India’s premium smartphone segment. Experts noted that Apple reducing prices is a surprising and bold move, showing their intent to make high-end devices more accessible.
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Future Plans for Local Manufacturing
Apple plans to start assembling its Pro and Pro Max models in India later this year through its Taiwanese partner Foxconn. The company might manufacture the upcoming iPhone 16 range in India for the first time. This move is expected to further lower prices and make premium models more accessible to Indian consumers.
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