iPhones become cheaper by up to ₹6,000 as Apple reduces prices across models

iPhones including 13, 14 and 15 will be cheaper by ₹300 while iPhone SE will be cheaper by ₹2300.

Apple cut prices of iPhones by 3-4% across its entire portfolio after which customers can save anywhere between ₹5100 to ₹6000 if they are buying a Pro or Pro Max model. The company said that iPhones including 13, 14 and 15 will be cheaper by ₹300 while iPhone SE will be cheaper by ₹2300.

The Apple logo is illuminated at a store.(AP)

This also marks the first time that Apple has reduced prices for its Pro models. Usually, the company discontinues Pro models after the new generation of Pro models are launched in the market. Only the inventory of older Pro models is cleared by dealers and resellers by selective discounts owing to which maximum retail price (MRP) of the Pro models was not reduced till now, Economic Times reported citing experts.

This time Apple has reduced prices of Pro models after a reduction in basic customs duty on mobile phones to 15% from 20% in the Union Budget 2024 announced by Nirmala Sitharaman on July 23. Apart from mobile phones, the customs duty has been cut in printed circuit board assembly for mobile phones and mobile phone chargers as per the Budget.

At present, imported smartphones sold in India attract 18% GST and 22% customs duty. The surcharge, 10% of the basic customs duty, will remain. Following the cut as per the Budget, the total customs duty will be 16.5% (15% basic and 1.5% surcharge). In case of India-made phones, only GST at 18% is levied.

In case of Apple, currently, 99% of mobile phones that are sold in India are manufactured locally while only a select high-end models are imported.