The iPhone recently broke the 1,000 US Dollar barrier in the US and similarly 1 lakh rupee barrier in India. Let’s face it iPhone’s are not getting any cheaper and have only been getting more expensive with every new iteration.
However, if we compare the prices of these phones in the US and of that in India there is a huge gulf in the pricing, the prices are really overinflated in India. This is mainly attributed to the many forms of taxes imposed by local and central government and the dealer and distributions prices and not to forget the grueling 10% import tax.
With the intervention of the GST, we were finally on the way to breathe fresh air with competitive pricing and fair market distribution. But this celebration has been halted as the import tax has risen from 10% to 15%. Now we don’t know how much would it affect the price of the phone, but knowing Apple it would not let it eat away its margin.