Apple Cuts iPhone 16 Pro Prices in India

As it passes on lowered import levies and local production to consumers, Apple will sell the iPhone 16 Pro series in India for 15,000 rupees ($178) less than its predecessor

The company unveiled the new phones at the Apple Event 2024 on Monday.

Compared to their iPhone 15 Pro counterparts, which were priced at 134,900 rupees ($1,606) and 159,900 rupees ($1,904) at launch, the iPhone 16 Pro and Pro Max variants are now available at 119,900 rupees ($1,428) and 144,900 rupees ($1,725), respectively.

Bernstein indicates that Apple is maintaining its price in most other regions at the same level as last year.

This price reduction is a result of Apple’s recent expansion of local manufacturing operations in the country and India’s recent decision to reduce import duties on electronics.

Apple had already reduced the prices of its pro iPhone 15 variants in India by 3% to 4% in July.

According to an individual who knows the situation, Apple will shortly begin selling iPhone 16 and iPhone 16 Pro models manufactured in India in the country. However, the Pro models will initially be imported.

Apple has established India as a critical international market. Apple’s revenue from India increased by 42% to $8.7 billion in 2023 from the previous year, as reported by Morgan Stanley.

In 2023, the company’s fifth-largest phone market was India, where iPhone shipments increased by 39% to 9.2 million units.

Morgan Stanley also stated that the iPhone market in India is more extensive than that of any individual country in the European Union.

As the domestic economy strengthens, Apple’s market share in the country’s smartphone market also increases.

According to UBS, the company’s market share doubled in Q4 last year but fell in subsequent quarters.