Apple has reduced the prices of its iPhone models in India by 3% to 4% after the country’s government slashed import duties on imported smartphones to 15% from 20%, reports TechCrunch.
Apple’s price cuts range from ₹300 (about $3.6) for the made-in-India iPhone 13, iPhone 14 and iPhone 15, ₹2,300 ($27.5) for iPhone SE and to up to ₹6,000 ($72) for the iPhone 15 Pro and Pro Max. This is the first time Apple has lowered prices on current-generation Pro models in India, notes TechCrunch.
Presenting the annual budget for 2024/25 in parliament on Tuesday, India’s finance minister Nirmala Sitharaman said import tax on mobile phones, printed circuit board assembly (PCBA) and mobile chargers is in the “interest of consumers,” the article adds.
Almost 10-12% of the Apple iPhones are imported each year into India and a 5% reduction in tax on the devices will result in a $35-50 million annual benefit to Apple, said Neil Shah, a co-founder at Counterpoint Research.
