Apple Reduces iPhone Prices in India Following Customs Duty Cut
In a move aimed at benefiting both consumers and the electronics manufacturing sector, Finance Minister Nirmala Sitharaman has announced a reduction in the basic customs duty on mobile phones and chargers as part of the Union Budget 2024. This policy change has prompted Apple to lower the prices of its iPhones in India, particularly impacting its high-end models. Here’s an in-depth look at the new pricing structure and its implications for consumers.
Impact of Customs Duty Reduction
The electronics manufacturing industry has long advocated for a reduction in customs duties. Previously, imported smartphones in India faced an 18% GST and a 22% customs duty, comprising a 20% basic duty plus a 2% surcharge. The recent budget adjustment has decreased the total customs duty to 16.5%, with a 15% basic duty and a 1.5% surcharge. For smartphones produced locally, only the 18% GST is applicable. Apple, which imports its iPhone Pro and Pro Max models while manufacturing other variants domestically, has responded by adjusting its pricing.
Price Reductions on iPhones
In response to the customs duty cut, Apple has updated its pricing on the official Apple Store in India. The most significant price reductions are seen in the iPhone 15 Pro and Pro Max models, with discounts reaching up to Rs 6,000. Conversely, the base models have experienced minor reductions of around Rs 300. Below is a comparison of the previous and new prices.
Updated iPhone Prices in India
| iPhone Model | Storage Variant | Old Price (Rs) | New Price (Rs) |
|---|---|---|---|
| iPhone 15 | 128GB | 79,900 | 79,600 |
| 256GB | 89,900 | 89,600 | |
| 512GB | 109,900 | 109,600 | |
| iPhone 15 Plus | 128GB | 89,900 | 89,600 |
| 256GB | 99,900 | 99,600 | |
| 512GB | 119,900 | 119,600 | |
| iPhone 15 Pro | 128GB | 134,900 | 129,800 |
| 256GB | 144,900 | 139,800 | |
| 512GB | 164,900 | 159,700 | |
| 1TB | 184,900 | 179,400 | |
| iPhone 15 Pro Max | 256GB | 159,900 | 154,000 |
| 512GB | 179,900 | 173,900 | |
| 1TB | 199,900 | 193,500 | |
| iPhone 14 | 128GB | 69,900 | 69,600 |
| 256GB | 79,900 | 79,600 | |
| 512GB | 99,900 | 99,600 | |
| iPhone SE | – | 49,900 | 47,600 |
| iPhone 13 | – | 59,900 | 59,600 |
The reduction in basic customs duty on mobile phones and chargers, as announced by Finance Minister Nirmala Sitharaman, is a positive development for Indian consumers. Apple’s price adjustments, particularly for the high-end iPhone Pro models, enhance the accessibility of these premium devices. Although reductions on base models are relatively modest, the overall price adjustments reflect the government’s commitment to stimulating the electronics industry and making advanced technology more affordable in India.
