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Apple increases prices of iPhones due to change in custom duty

BusinessToday.In     March 2, 2020

Apple Inc has increased the prices of iPhones in India. It said that the increase in prices has come due to hike in import duties that was announced in Budget 2020. Apple said that the prices have been hiked after the increase in basic customs duty (BCD) rate and the withdrawal of earlier exemption from BCD and Social Welfare surcharge.

Some of the high-end iPhones will cost well over Rs 1 lakh after the increase. The base iPhone 11 Pro Max variant with 64 GB will be priced at Rs 1.11 lakh, an increase from Rs 1.09 lakh. The 256 GB iPhone 11 Pro Max will be priced at Rs 1.25 lakh, while the 512 GB will be priced at Rs 1.43 lakh.

Prices of iPhone 11 Pro will also witness a change. The 64 GB variant that was earlier priced at Rs 99,900 will now be sold at over Rs 1.01 lakh. The 256 GB variant will cost Rs 1.15 lakh, whereas the 521 GB will cost over Rs 1.33 lakh.

The 64 GB variant of iPhone 8 Plus that was earlier priced at Rs 49,900 will now be sold for Rs 50,600, while the 128 GB will be priced at Rs 55,600. The 64 GB and 128 GB variants of iPhone 8 will sell for Rs 40,500 and Rs 45,500 respectively.

Prices of iPhone XR and iPhone 7 that are assembled in India have not been changed. Prices of iPhone 11, Apple Watch and Mac laptops have also not been increased.   

Separately, Apple is slated to open its first retail store in India next year. CEO Tim Cook said during the company's annual shareholder meeting in Cupertino that Apple Inc will also open an online store in India this year.  "I don't think we would be a very good partner of retail. We like to do things our way," he added.

Also read: Apple registers best-ever quarterly performance in India; iPhone shipment jumps 200% in Q4FY19: Canalys

Also read: Apple penalised $27 million for slowing down old iPhones

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