For the majority of the year so far, Apple has been facing problems with iPhone sales in China. A Counterpoint report earlier in March claimed Apple’s iPhone sales had fallen 24% in the first six weeks of the year compared to the same period last year. And now, shipments have taken a 6.7% nosedive in the latest quarter, according to Canalys. So, Apple is turning its attention to India, one of its other largest Asian markets.
For the first time ever, Apple is lowering prices on the current generation iPhones in India. This comes after the Indian government decided to reduce import duties on smartphones from a hefty 20% to a more digestible 15%. So, what’s the price reduction on iPhones? We’re looking at a modest 3% to 4% cut across the board.
If you’re rocking a made-in-India iPhone 13, iPhone 14, or the shiny new iPhone 15, you’re in for a ₹300 (~$3.6) relief. Not much, but hey, it’s better than a poke in the eye with a sharp stick. The iPhone SE gets a ₹2,300 ($27.5) chop, while the iPhone 15 Pro and Pro Max see the most significant drops, with prices slashed by up to ₹6,000 ($72).
Even with this reduction, the cheapest iPhone 15 Pro still sets you back a cool ₹1,28,000 ($1,550) in India. Compare that to the $999 price tag for the best iPhone in the US, and it’s clear that “cheap” is still a relative term.
Why has Apple reduced iPhone prices in India?
The timing of this price cut is interesting, to say the least. As Apple grapples with a slowdown in demand in China, India’s burgeoning market appears to be the knight in shining armour. But Apple’s focus on India isn’t just about sales; it’s also about production.
With iPhone shipments in India jumping 39% to 9.2 million units last year, the country has become Apple’s fifth-largest market, outpacing any single European nation. Not too shabby, India! Revenue from the subcontinent also saw a 42% spike, hitting $8.7 billion in 2023.
And the future looks even brighter. Reports suggest that Apple plans to assemble its next-generation Pro models in India, alongside Google’s plans to kick off Pixel production in the country next year.