The recent Union Budget 2024 announcement by Finance Minister Nirmala Sitharaman has brought good news for smartphone buyers in India. The basic customs duty on mobile phones, chargers, and some components has been reduced, leading to a decrease in the prices of imported smartphones, including Apple iPhones. This move has been a significant demand by the electronics manufacturing industry and aims to make smartphones more affordable.
Customs Duty Changes and Impact
Previously, imported smartphones in India attracted an 18% GST and a 22% customs duty (20% basic and 2% surcharge). The new budget has cut the basic customs duty to 15%, with a 1.5% surcharge, making the total customs duty 16.5%. For phones manufactured in India, only the 18% GST is levied. Apple imports its iPhone Pro and Pro Max models, while other models are manufactured in India. Following this announcement, Apple has reduced the prices of its iPhones in India.
New iPhone Prices in India
Apple has updated its official website to reflect the new prices. The discounts vary across models, with the Pro models seeing the most significant reductions. Here are the updated prices:
| Model | Previous Price (INR) | New Price (INR) |
|---|---|---|
| iPhone SE | 49,900 | 47,600 |
| iPhone 13 | 62,900 | 59,600 |
| iPhone 14 | 72,900 | 69,600 |
| iPhone 15 | 79,900 | 79,600 |
| iPhone 15 Plus | 89,900 | 89,600 |
| iPhone 15 Pro | 1,34,900 | 1,29,900 |
| iPhone 15 Pro Max | 1,49,900 | 1,43,900 |
Key Takeaways
- The iPhone 15 Pro and iPhone 15 Pro Max models have received a significant price cut of up to Rs 6,000.
- The price reductions on base models like the iPhone 15 and iPhone 15 Plus are minimal, at Rs 300.
- The iPhone SE has seen a reduction of Rs 2,300.
- The iPhone 13 and iPhone 14 models are now more affordable, priced at Rs 59,600 and Rs 69,600, respectively.
Conclusion
Apple’s price cuts following the reduction in customs duties are a welcome move for consumers in India, making premium models more accessible. As Apple continues to manufacture more of its models in India, this trend of price reductions could continue, benefiting a wider range of customers. For those looking to upgrade or purchase a new iPhone, now is an excellent time to explore these updated prices and take advantage of the savings.
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