For the first time, Apple has successfully reduced the costs of current iPhone models in India, the world’s second-largest smartphone market after China and ahead of the US. Notwithstanding this move, a reduction in Indian import duties on smartphones entering the country from 20% to 15% was necessary to actualize price cuts ranging from 3% to 4%.
India’s adjustment to its funding policies, effective from July 23rd, prompted Apple to revise its iPhone pricing strategy, commencing with a 300-rupee reduction ($4.05) for models such as the made-in-India iPhone SE? As these items are manufactured within India, they were unaffected by the reduction in import duties. The value of the stock plummeted by 2,300 rupees, equivalent to approximately $27.50.
Presents top-tier fashion brands offering up to 6,000 rupees ($71.70) in discounts on select items. While India has established itself as the globe’s second-largest market for smartphones, its rapid growth as a nation further underscores this trend. According to Glassdoor, salaries in India vary greatly, ranging from approximately $95.55 to $1,708.02 per month, which may contribute to the popularity of affordable brands like Xiaomi in the country, as consumers seek value for their money. It’s because Android dominates the Indian smartphone market with an impressive 95.03% market share in terms of gross sales, accounting for the vast majority of device purchases nationwide.
Apple is reportedly considering a move to manufacture iPads in India through Taiwanese contract manufacturer Foxconn.
Despite a recent price drop, iPhones remain exorbitantly expensive in India. The most affordable iPhone model expected to support Apple Intelligence by the end of the year in the United States has a price tag. at $990. In India, a cellphone with an identical specification is priced at $1,550, representing a whopping 55% premium.
Apple has long manufactured iPhones in India, but this new strategy aims to circumvent India’s import taxes on smartphones entering the country. Initially, Apple manufactured fashion accessories domestically, but last year, certain products were produced in India. Apple’s corporate is reportedly considering manufacturing iPads in India at Foxconn’s facility in Tamil Nadu. Foxconn has reportedly engaged in talks with Indian officials regarding the potential construction of tablet manufacturing facilities within the country.
While rumors have been scarce regarding Apple’s strategy to expand its manufacturing base beyond China, the recent move to shift some iPad production to India suggests that the company has gained confidence in the supply chain it has established in this region, with diversifying out of China likely remaining a long-term goal for Apple.
