Apple Tests Indian Loyalty With 41% Price Hike on iPhones

Apple raised prices on existing iPhone models in India by up to 41% this week, one of the steepest hikes in any market, betting that affluent urban buyers will absorb the increase. The base iPhone 17 rose nearly 21% to about $1,048, while the iPhone Air's 1TB variant jumped 41% to $2,359, far exceeding US increases. Apple cites rising chip costs, with DRAM prices for AI servers driving up component expenses. India is Apple's largest branded export at $22 billion last fiscal year, yet local buyers see no relief. Analysts view this as market segmentation, testing whether status-driven loyalty outweighs price sensitivity against Android rivals.