Apple shares are up 0.4% to $174.87. However, considering that not all parts of the smartphone will be manufactured in India, and will need to be imported from China, the price correction may not reflect immediately. "Eventually, as the local capacity gains scale the prices will get corrected". But Apple has not hiked the model's price yet. In India, the iPhone SE can be bought for as low as Rs 18,799, while the iPhone 6S Plus can be found at Rs 37,999 on ecommerce platforms like Amazon India.
The Indian government has steadily raised the customs duty on imported mobile phones from 10 per cent to 20 per cent. Apple's goal is to meet government requirements necessary to reduce the price of iPhones within India. The iPhone 6S, on-the-other-hand, accounts for nearly one-third of total sales of iPhones in India previous year. Meanwhile, Apple has joined their hands with the local partners in India, including chargers, adapters and box packaging. In total, there are five sourcing plants which includes Finland-based Salcomp's facility in Tamil Nadu and Chinabased Shenzhen YUTO Packaging Technology plant in Bengaluru. Which, if true, could bring down the price of the iPhone to the mid-budget segment. The iPhone SE since its launch in India over two years ago has steadily seen a great response in India.
Though Apple has made a decision to assemble iPhone 6s in India, there are no plans for the company to start building their new devices in India anytime soon.
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