In Short:
Apple has reduced the prices of iPhones in India by 3-4% across its range, saving customers up to Rs 6000. This is the first time Apple has cut prices for its Pro models, likely due to a reduction in customs duty on mobile phones. The company passed on the benefits to consumers, bringing the total customs duty for imported phones down to 16.5%. The move aims to boost sales of locally-made phones in India.
Apple Reduces Prices of iPhones Across Portfolio
Apple has decided to cut the prices of its iPhones by 3-4% across its entire portfolio. This move allows customers to save between Rs 5100 to Rs 6000 when purchasing a Pro or Pro Max model. Additionally, the Made-in-India iPhones, including 13, 14, and 15, have also seen a price decrease of Rs 300, while the iPhone SE will be cheaper by Rs 2300.
New Approach for Pro Models
Experts note that this price reduction for the Pro models is a unique occurrence for Apple. Traditionally, the company discontinues the Pro models once new generations are launched, and older models are sold by dealers and resellers with selective discounts. However, this time, Apple has reduced prices for the Pro models, likely influenced by the decrease in basic customs duty on mobile phones from 20% to 15% in the recent Budget.
The Cupertino-based tech giant has swiftly passed on the benefits of these custom duty cuts to consumers, resulting in lower prices for its products.
Changes in Customs Duties
Imported smartphones in India currently attract 18% GST and 22% customs duty (20% basic and 2% surcharge). With the recent cut, the total customs duty will now be 16.5% (15% basic and 1.5% surcharge). On the other hand, India-made phones are only subject to the 18% GST.
This reduction in prices showcases Apple passing on the full advantage of the duty cut to its customers. The majority of mobile phones sold in India are now manufactured locally, with only a few high-end models being imported, including the iPhone Pro models.
