Apple iPhone’s Price Slashes?
A few days after Finance Minister Nirmala Sitharaman publicized that taxes on mobile phones and some parts would be minimized, Apple announced a price cut for different iPhone models, beginning from the basic level iPhone SE to the current high-quality iPhone 15 Pro Max.
The price reduction is the biggest for the iPhone SE, where the price has been minimized to Rs 47,600 from the past tag price of Rs 49,900. For some of the more famous models, such as iPhone 13 through 15, the price reduction is minimal, with MRP having fallen to a mere 0.5%. The reason could be that the models are being put together in India, so they might not benefit from lower customs duties.
For some top-of-the-line models, such as iPhone 15 Pro and iPhone 15 Pro Max, the price has been reduced by 3.8% and 3.7% accordingly. These phones are yet to be manufactured in India, which signifies why the minimization of price in these cases has been notable.
| Model | Earlier Price | New Price |
| iPhone SE | Rs 49,900 | Rs 47,600 |
| iPhone 13 | Rs 59,900 | Rs 59,600 |
| iPhone 14 | Rs 69,900 | Rs 69,600 |
| iPhone 14 Plus | Rs 79,900 | Rs 79,600 |
| iPhone 15 | Rs 79,900 | Rs 79,600 |
| iPhone 15 Plus | Rs 89,900 | Rs 89,600 |
| iPhone 15 Pro | Rs 1,34,900 | Rs 1,29,800 |
| iPhone 15 Pro Max | Rs 1,59,900 | Rs 1,54,000 |
Finance Minister Nirmala Sitharaman publicized that taxes on mobile phones and some parts would be minimized.
The relaxation in prices comes after Sitharaman announced a cutback in normal customs duties for mobile phones, printed circuit board assemblies, and mobile chargers from 20 to 15 percent in the Union Budget 2024.
Before the assessed Budget in February this year, the Finance Ministry had reduced the import duty of various components like mechanics and die cut parts, and all other mobile phone accessories categorized as ‘others’ under HSN code 85177990, from 15 to 10 percent.
The prices have reduced but, the iPhone is still more expensive in India than in other countries like the United States. For example, the iPhone 15 Pro Max costs around Rs 1,00,000 more in India than in the US, where it is Rs 54,000 cheaper.
Even though phones are still very expensive in India, the country has become an important market for Apple. This is partly because Apple has started making some of its products in India instead of just in China. Apple’s income from India grew by 42% to $8.7 billion in 2023, compared to the year before, according to Morgan Stanley.
Despite the fact, that iPhones remain highly expensive in the country, India has appeared as a notable market for Apple, mainly since it has moved a section of its assembly procedure here, in an expansion move away from China. Apple’s earnings from India raised 42% to $8.7 billion in 2023 from a year earlier, following Morgan Stanley.
Read more:
