Apple has recently reduced the prices of its pro iPhone models in India, following the government’s decision to lower import duties on imported smartphones. This move aims to make Apple’s devices more affordable and accessible to Indian consumers. The price cuts range from ₹300 for the made-in-India iPhone 13, iPhone 14, and iPhone 15, to ₹6,000 for the iPhone 15 Pro and Pro Max. This is the first time that Apple has lowered prices on its current-generation Pro models in India, indicating the company’s commitment to expanding its market presence in the country.
The price reduction comes at a time when iPhone demand in China seems to be slowing down. Canalys, a market research firm, reported a 6.7% decline in Apple’s smartphone shipments in China for the quarter ended June compared to the previous year. Canalys research analyst Lucas Zhong suggests that Apple is facing a bottleneck in mainland China, which may have prompted the company to focus on other markets like India.
Although the price cuts in India are undoubtedly a positive development, iPhones still remain prohibitively expensive for many Indian consumers. The cheapest iPhone 15 Pro model, priced at $999 in the U.S., still costs $1,550 in India. However, India has become a crucial market for Apple, with the company experiencing a significant increase in revenue from the country. According to Morgan Stanley, Apple’s revenue from India rose by 42% to $8.7 billion in 2023 compared to the previous year. Additionally, iPhone shipments in India increased by 39% to 9.2 million units in 2023, making it the fifth-largest market for Apple’s phones. In fact, India’s market for iPhones is even larger than any single country in the European Union.
Apple’s growing market share in India can be attributed to several factors. The company has been expanding its manufacturing base in the country, which has contributed to job creation and increased local production. As the Indian economy improves, more consumers have the purchasing power to invest in premium smartphones like the iPhone. UBS and Counterpoint reported that Apple’s market share in India reached double digits in Q4 of last year, although it has slightly fallen since then.
In line with its commitment to the Indian market, Apple plans to start assembling the pro models of its next-generation iPhone lineup in India this year. This move aligns with the Indian government’s “Make in India” initiative, which aims to promote local manufacturing and reduce dependence on imports. Google has also announced its plans to manufacture its Pixel smartphones in India starting in 2024, indicating the country’s growing importance as a manufacturing hub for leading technology companies.
In conclusion, Apple’s decision to reduce the prices of its pro iPhone models in India reflects the company’s dedication to expanding its market share in the country. Although iPhones remain expensive compared to other markets, India’s increasing revenue and shipment figures demonstrate the growing demand for Apple’s devices. By manufacturing locally and making devices more affordable, Apple aims to tap into India’s vast consumer base and establish a strong foothold in one of the world’s fastest-growing smartphone markets.