Apple's newest offering, the iPhone SE, flip-flopped in its price and became a lot more expensive overnight. A lot of people are now complaining that Apple's charging way too much for the phone in India, but the new price is actually in line with what Apple typically charges outside the US. Here's what you need to know:
Apple announced on Monday night IST that the iPhone SE price will be Rs. 30,000. By Monday morning, Apple had said it was a communication error, and price will be Rs. 39,000.
While the price may seem high compared to the US price of $399 (roughly Rs. 26,500), it's actually not too different than before - the iPhone 6s launched in India for roughly Rs. 95 per dollar ($649 and Rs. 62,000) while the iPhone SE conversion is roughly Rs. 97 per dollar.
This is also in-line with how the iPhone SE is priced in other countries. The UK price is GBP 359 (roughly Rs. 34,500) and it's EUR 489 (roughly Rs. 36,500) in Europe.
The India price is higher than the US price due to factor in for the volatility of the Indian rupee against the dollar, import duties (that are higher now on imported devices to push companies towards 'Make in India'), and local taxes - remember, $399 in US does't account for local taxes there.
The good news is that the iPhone SE will likely be available at a lower price soon, as the company's pricing in India is not as rigid as before, which means the MRP is nothing but an indicative figure. And regular e-commerce sales should make it even easier to find a deal.
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