GST impact: Apple slashes prices of iPhone models in India by up to Rs 6,600
The effects of lower tax rate on many items under the Goods and Services Tax (GST) is starting to show with companies slashing the prices of their products to pass on the benefits to customers. While automakers like Maruti, Toyota and BMW have brought down the car prices by several thousand to lakh, tech giant Apple has also reduced the retail prices of iPhones, iPads, Macs and Apple Watch models for its consumers in India. The US-based company has cut the prices of its iPhone models between 4 and 7.5 per cent.
The Rs 60,000 Apple iPhone 7 (32GB variant) can now be purchased at Rs 56,200. The Rs 70,000 iPhone 7 (128GB) is now available for Rs 65,200 and the Rs 80,000 256GB variant at Rs 74,400. The base model (32GB) of Apple iPhone 7 Plus is now available at Rs 67,300 as opposed to Rs 72,000 previously. The 32GB model of iPhone SE (Rs 27,200), being assembled in Bengaluru, will now cost Rs 26,000. The 32GB iPhone 6s (Rs 50,000) is now available at Rs 46,900.
The highest price cut has come for the iPhone 7 Plus (256 GB) model which will now cost Rs 85,400 instead of Rs 92,000.
The new prices have taken the basic customs duty (BCD) of 10 per cent into account.
Apart from iPhones, Apple also slashed prices of iPads, Macs and Apple Watch.
India has gained a significant place in the Apple scheme of things in the recent past.
Apple CEO Tim Cook recently told Prime Minister Narendra Modi, who was visiting the US, that his company is positive about the production of the iPhone SE in Bengaluru.
According to industry sources, Cook apprised the Prime Minister about the production of Apple's popular iPhone SE model at its Bengaluru facility and the app developers working for Apple.
In May, Apple began the initial production of a small number of iPhone SE in Bengaluru, where it had opened its App Accelerator to provide specialised support for developers earlier this year in March.
According to experts, the price drop post-GST will help Apple cement its position in the challenging Indian market. Currently, Apple has 3 per cent market share by volume and 11 per cent by value in the country.