Apple hikes iPhone prices in India by up to Rs 65,000; analysts see limited sales impact

Apple has raised prices of older and new iPhone models in India by up to Rs 65,000 amid a global memory chip shortage dubbed RAMageddon. Analysts say demand may dip but the brand’s pull will keep sales strong, especially with financing options. Since mid-2025, DRAM and flash storage chip prices have surged over 300%, forcing nearly all brands to hike prices multiple times since early 2026. Apple resisted until September 9, then raised older models like iPhone 16 and 17 by Rs 15,000 to Rs 65,000, while new 18 Pro models cost Rs 30,000 to Rs 65,000 more than predecessors. Analysts note Apple's aspirational brand status in India will limit sales impact, with 24-month zero-interest financing becoming standard. However, replacement cycles will lengthen as buyers delay purchases, though higher prices should offset volume drops. Apple held an estimated 7% share in India's Q2 2026 smartphone market.