What you need to know
- India's Goods and Services Tax has risen from 12% to 18%.
- As a result, iPhone prices in the country are going up by at least 5%.
- The most expensive iPhone in India is now nearly $2000.
The price of iPhones in India has risen by at least 5% on every model following a 50% hike in India's Goods and Services Tax.
As reported by Beebom:
Apple has increased the prices of most of its iPhone models in India today because of the 12% to 18% GST rate hike that went into effect today.
Apple has increased the retail prices for the latest iPhone 11 series, along with iPhone XS, iPhone XR, iPhone 8 and iPhone 7 series in India. The latter (iPhone 7) now starts at Rs. 31,500 as opposed to Rs. 29,900 for the 32GB base variant. The exorbitant price tag for the top-of-the-line iPhone 11 Pro Max variant (512GB) now crosses the 1.5 lakh threshold with this price hike.
A full table of price changes shows that every iPhone sold by Apple in India has risen in price by at least 5%. It means the cheapest iPhone you can buy in the country, the iPhone 7 (32GB), now costs Rs. 31500, just over $410. Conversely, Apple's iPhone 11 Pro Max with 512Gb of storage will now set you back the equivalent of $1980.
Apple has struggled in recent years to shift its iPhone in the country due to exorbitant tariffs and taxes. This is the second tax increase on phones in the country this month. Whilst the increase will affect all vendors and retailers in the country, the move will come as a particular blow to Apple because of recent momentum enjoyed by the iPhone XR in the country.