iPhone May Become Cheaper, Budget 2024 Could Cut Prices

iPhone: The government has made a decision to lower the import taxes on phones, in its budget potentially making high end smartphones more affordable. The Finance Minister revealed a 5% reduction in duties on phones and chargers which could lead to prices for smartphones and chargers. This move is expected to impact the pricing of Googles Pixel and the iPhone Pro and Pro Max models.

During her budget speech Finance Minister Nirmala Sitharaman announced the decision to decrease import duties from 20% to 15% potentially saving customers between ₹7,000 and ₹15,000.

India imports goods worth $1 billion accounting for one percent of total imports. The hope is that this tax cut will help curb smuggling of smartphones and has been a standing demand from the smartphone industry.

In March reports suggested that the Indian Cellular and Electronics Association (ICEA) had been pushing for reduced import duties, on components.