- The prices have been affected due to increase in import duties as reported by ET
- The iPhone models which are imported from China are facing the price increase
- The company reportedly is also planning to open its first retail store in the country in 2021
- The brand already has 75.6 per cent market share in the country according to IDC
Apple has increased prices of some iPhone models in India. This has been done in order to offset the increase in duties in the last Budget, according to a report by the Economic Times.
As per industry executives, the Budget had hiked import duty of various products by increasing the custom duty rate. This has been done while withdrawing the earlier exemption from basic custom duty and social welfare surcharge.
As shared by Navkendar Singh, Research Director, IDC (International Data Corportation), Apple is known for its retail stores, the experience they provide in terms of purchase, staff knowledge and other services as the brand had reached 75.6 market share in the fourth quarter of 2019.
The price variation
As iPhone 7 and iPhone XR are assembled in India by Wistron and Foxconn respectively, are not impacted by any price increase. The price of iPhone 11, iPad Tablets, Apple watch, and MacBook Computers remain the same as well.
The price of iPhone 8 64 GB has increased from to Rs 40,500 from Rs 39,900. iPhone 8+ 64 GB has been priced Rs 50,600 now. It was Rs 49,900 earlier.
Price of iPhone 11 Pro 64 GB has gone up to Rs to 1,01,200 from Rs.99,900. The one with 256 GB variant is up from Rs 1,13,900 to Rs 1,15,200, while the 512 GB is priced to Rs 1,33,200 from Rs 1,31,900.