iPhone prices in India surge on import duties and memory chip costs

Apple has significantly increased iPhone prices in India, with the new foldable iPhone Duo launching at Rs 2,99,900 and the iPhone 18 Pro at Rs 1,64,900, reversing years of relative affordability. The price hikes stem from a combination of factors, including a 17 percent import duty, 18 percent GST, currency fluctuations, and soaring global memory chip costs driven by AI demand. Older models also rose sharply, with the iPhone 17 jumping from Rs 82,900 to Rs 99,900, exceeding the flat $100 increase seen in the US. Apple's pricing strategy, channel margins, and strong financing options like no-cost EMIs are also shaping the market. While unit sales may decline slightly, revenue is expected to grow 6-7 percent, driven by premium models and a growing refurbished market.