- Apple cuts iPhone prices in India.
- China demand slows.
- India becomes key growth market.
A bite of the Indian apple
Apple has reduced prices of its iPhone models in India, following the government’s decision to cut import duties on smartphones.
The price drops range from ₹300 for made-in-India models to ₹6,000 for the iPhone 15 Pro and Pro Max.
This marks the first-ever price reduction for current-generation Pro models in the country.
China slowdown, India speed-up
The price cut comes amid reports of slowing iPhone demand in China. Meanwhile, India has emerged as a key growth market for Apple, revenue jumping 42% to $8.7 billion in 2023.
iPhone shipments in India climbed 39% to 9.2 million units, making it Apple’s fifth-largest market globally.
Despite the price cuts, iPhones remain relatively expensive in India compared to other markets. However, Apple’s market share in India is surging, reaching double digits in Q4 last year.
Reports suggest Apple plans to start assembling pro models of its next-generation iPhones in India this year, further solidifying its commitment to the market.
