Following a hike in import taxes on smartphones in India from 10 to 15 percent, Apple has increased the prices of its iPhone lineup in India by around 3.5 percent. The price increase is applicable for all iPhones except for the iPhone SE which is assembled locally by Apple.
Due to the price increase, the already expensive iPhone X has seen its price increase from Rs 89,000 to Rs 92,430. The 256GB iPhone X which already had a staggering price tag of Rs 1,02,000 ($1600) will now cost you Rs 1,05,720. The iPhone 8 and iPhone 8 Plus have also seen a similar increase in their MRP and now cost Rs 66,120 and Rs 75,450 for the 64GB variants. The price increase is also applicable on older iPhone models like the iPhone 7, iPhone 6s and even the iPhone 6. In fact, the percentage price increase (4.3%) of the iPhone 6 was higher than that of newer iPhones.
The Indian government last week increased the import tax on smartphones from 10 percent to 15 percent in a bid to promote and encourage OEMs to assemble and manufacture phones in India under its ‘Make in India’ initiative. The major gainers with this move are OEMs like Xiaomi, Samsung and Oppo which primarily assemble the majority of the phones they sell in India.
The modest price increase is unlikely to affect iPhone sales in India where the company’s smartphones enjoy a premium status. However, the exorbitant price tag has also ensured that iPhone penetration in India is very low, with Apple occupying only around 3 percent of the smartphone market share in India.Like this post? Share it!