Apple Announces Price Cuts For iPhones Across Models

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.

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.