Apple has reduced the prices of its iPhones by 3-4% across its entire range. As a result, customers can now save between ₹5100 and ₹6000 on Pro and Pro Max models. The price of iPhone models 13, 14, and 15 has been cut by ₹300, while the iPhone SE will see a reduction of ₹2300.
This is the first instance of Apple reducing prices for its iphone Pro models. Usually, Apple discontinues Pro models after introducing a new generation, with only selective discounts applied by dealers and resellers to clear out older inventory. As a result, the maximum retail price (MRP) for Pro models had not been reduced until now.
This time, Apple has reduced the prices of its Pro models following a decrease in the basic customs duty on mobile phones from 20% to 15%, as announced in the Union Budget 2024 by Nirmala Sitharaman on July 23. The Budget also lowered customs duties on printed circuit board assemblies for mobile phones and mobile phone chargers.
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Currently, imported smartphones in India are subject to an 18% GST and a 22% customs duty. The 10% surcharge on the basic customs duty will remain in place. With the recent Budget cut, the total customs duty for imported phones will now be 16.5% (15% basic duty plus 1.5% surcharge). For phones manufactured in India, only the 18% GST is applied.
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