iPhone, Apple Watch Prices in India Marginally Increased After Budget 2018 Customs Duty Hike

Within a few days of the Indian government's decision to increase customs duty on mobile phones from 15 percent to 20 percent, Apple India has announced a marginal increase in prices of iPhone and Apple Watch models. An increase of up to 3.6 percent has been observed in the prices of iPhone models and up to 8.3 percent in prices of Apple Watch models. The official pricing of the iPhone SE remains unchanged.

During the Union Budget 2018 announcement, Finance Minister Arun Jaitley announced that custom duty levied on import of mobile phones will be increased from the current 15 percent to 20 percent. Notably, this rate was increased from 10 percent to 15 percent in December last year. With the latest price revision, the iPhone 6 (32GB) sees the biggest price jump of 3.6 percent.

The iPhone 6 (32GB) has a new MRP of Rs. 31,900, up from the previous Rs. 30,780; the iPhone 6s (32GB) has a new MRP of Rs. 42,900, up from the previous Rs. 41,550; the iPhone 6s (128GB) has a new MRP of Rs. 52,100, up from the Rs. 50,660; the iPhone 6s Plus (32GB) has a new MRP of Rs. 52,240, up from the previous Rs. 50,740; the iPhone 6s Plus (128GB) has a new MRP of Rs. 61,450, up from the Rs. 59,860.

The iPhone 7 (32GB) will now retail at Rs. 52,370, up from Rs. 50,810; the iPhone 7 (128GB) has a new MRP of Rs. 61,560, up from Rs. 59,910; the iPhone 7 Plus (32GB) has a new MRP of Rs. 62,840, up from the previous Rs. 61,060; the iPhone 7 Plus (128GB) has a new MRP of Rs. 72,060, up from the previous Rs. 70,180.

The newer iPhone models have also received price hikes. The iPhone 8 (64GB) has a new MRP of Rs. 67,940, up from the previous Rs. 66,120; the iPhone 8 (256GB) has a new MRP of Rs. 81,500, up from the previous Rs. 79,420; the iPhone 8 Plus (64GB) has a new MRP of Rs. 77,560, up from the previous Rs. 75,450; the iPhone 8 Plus (256GB) has a new MRP of Rs. 91,110, up from Rs. 88,750. And, finally, the iPhone X (64GB) has a new MRP of Rs. 95,390, up from the previous 92,430; and the iPhone X (256GB) has a new MRP of Rs. 1,08,930, up from the previous Rs. 1,05,720.

Even Apple Watch variants have received a significant price hike in the new announcement. The Apple Watch Series 3 GPS (38mm) has a new MRP of Rs. 32,380, up from the previous Rs. 29,900; the Apple Watch Series 3 GPS (42mm) has a new MRP of Rs. 34,410, up from the previous Rs. 31,900. The new prices are also applicable for the Nike+ edition.

The revised prices are applicable on the MRP of the mentioned devices. Most of them can be bought at lower prices online, with the help of retail discounts, card discounts, and cash backs.

As seen in the December price hike, the iPhone SE is - once again - exempt from a price hike. The iPhone SE (32GB) has an official price of Rs. 26,000, while the iPhone SE (128GB) MRP also remains constant at Rs. 35,000. The phone is being assembled in India since May 2017, and is thus exempt from custom duty.

Counterpoint Research, in December, had said that Apple imports more than 80 percent of its mobile phones, giving it no choice other than to increase prices to maintain profit margins.