The recent cut in the basic customs duty on consumer electronics announced by the finance minister Nirmala Sitharaman in the Union budget 2024-25, has faced a major drop in iPhone prices across India.  

The reduction in the prices became effective immediately, and the iPhone models, including Pro, Pro Max and Plus received a price drop of Rs 5,100 to Rs 6,000. Meanwhile, iPhone 13, 14 and 15 prices have been reduced swiftly by Rs 300, and the iPhone SE witnessed a substantial price cut of Rs 2,300. 

The changes in the import duties on smartphones are now down to 15-20%. 

Notably, this is the first time Apple has reduced its prices on its Pro models in India, reflecting the company’s commitment to its customers. This major downfall in the prices of iPhone, could play a pivotal role in increasing apple’s sale in India.  

Price Reductions in iPhone models 

The iPhone 15 Pro 128GB, originally priced at Rs 1,24,900 is now available at Rs 1,29,800— with a difference of Rs 5,100 than its prior cost. The iPhone Pro Max, which initially priced at Rs 1,59,900 can now be purchased for Rs 1,54,000—with a reduction of Rs 5,900.  

Additional discounts Online 

Apart from the Market, Apple’s price cuts have also sparked additional discounts and vouchers from various e-platforms like Flipkart, Amazon and others, making it a perfect time and a deal to purchase an iPhone for the consumers. For instance, the iPhone 14 (128GB) is available on Flipkart for just Rs 59,999 and the iPhone 15 (128GB) for Rs 71,999. 

The iPhone 15 Plus is available with a starting price of Rs 89,600. While Flipkart is again offering the best deal with a special discount of Rs 14,601, i.e. at Rs 74,999. The other e platforms like Jio Mart and Croma are offering under 80,999. While Amazon and Reliance Digital priced the iPhone 15 Plus at Rs 81,900. 

The iPhone 15 Pro Max is now priced at Rs 1,54,000. Jio Mart is offering it at Rs 1,48,400. While others including Croma and Amazon priced this at Rs 1,50,000 and Rs 1,51,700 respectively. 

Customs Duty in Budget 2024-25 

The Union Budget for the fiscal year 2024-25, presented by Nirmala Sitharaman has brought significant changes in Customs and exercise duties. These transformations are aimed at supporting domestic manufacturing, promoting expert manufacturing and simplifying the taxation system.  

The amendments made in the Customs and exercise Duties have been proposed through the Finance (No.2) Bill,2024. These include proposed and reducing customs duties on items such as gold, silver, mobile phones, chargers, medicines and medical equipment’s, critical minerals and inputs for the leather and textiles industries, etc.