Apple Reduces iPhone Prices in India as Sales Slow Down in China

Following a reduction in import taxes in the South Asian nation, Apple has decreased the retail prices of its iPhone lineup in India by 3-4%. The reductions span from 300 rupees ($3.6) for models such as the iPhone 13, 14, and 15 to a significant 6,000 rupees ($71.7) for the more premium iPhone 15 Pro and Pro Max versions.

This adjustment marks Apple’s inaugural price reduction for its current Pro models in the Indian market. This decision came in the wake of India’s resolution to lower the basic customs duty on imported mobile phones from 20% to 15%, as announced in the country’s latest budget announcement earlier in the week.

Moreover, this price adjustment occurs amidst a slowdown in iPhone sales in China, as noted by Canalys, which reported a 6.7% decline in Apple’s smartphone shipments in China for the quarter ending in June.

Apple has chosen not to comment on this matter.

Despite the welcomed price slashes, the cost of iPhones in India remains dauntingly high. For instance, the starting price of the iPhone 15 Pro in India is $1,550, in stark contrast to its $999 price tag in the U.S.

With India shaping up as a crucial international market, Apple has been notably increasing its manufacturing footprint in the populous country. Apple’s revenue from India surged by 42% year-on-year in 2023, reaching $8.7 billion, as per Morgan Stanley.

Furthermore, 2023 saw a 39% year-on-year increase in iPhone shipments to India, totaling 9.2 million units. This growth elevates India to being the fifth-largest market globally for Apple’s smartphones, surpassing any individual European Union country’s market, as highlighted by Morgan Stanley.

Economic strides in India have also seen a burgeoning market share for the iPhone, with Apple briefly securing double-digit share in India’s smartphone market in the last quarter of the previous year. Though this share has seen a dip, the growth trajectory is notable, as observed by UBS and Counterpoint.