Apple has raised the price of several iPhone models — including the top-tier iPhone 11 Pro and Pro Max — yet again in India, risking denting sales in the country that were just starting to take off.
The price hike is just under 2%, making it smaller than the sizable iPhone price increase Apple introduced in India in 2018. It follows increased import duties announced during India’s Union Budget 2020.
Apple hosted shareholders for an annual meeting Wednesday, and it was seemingly business as usual. CEO Tim Cook said the company will open its first Apple Store in India this year. He explained why Apple’s streaming service passed on a Friends reunion. He defended Apple’s role in FBI investigations when asked to retrieve iPhone data.
But the tech giant finds itself at an unusual moment in its history with a deadly coronavirus in China that halted business travel, crippled manufacturing, closed all 42 Apple Stores in the country and forced Cupertino to pull back on its March-quarter revenue protections.
Apple was reportedly the fastest growing premium smartphone brand in India last year — with a massive 41% growth year-over-year. The iPhone XR wound up being the country’s most popular “ultra premium” handset, claims Counterpoint Research. This was followed by Samsung’s Galaxy S10 Plus and OnePlus 7 Pro.
That’s great news for Apple. But there’s still a long way to go.
Apple has reduced the price of HomePod to $280, a further reduction on the $349 it charged initially for its smart speaker. Unfortunately, you’ll have to be living in India to take advantage of it.
Having released the HomePod in 2018 in the United States, Apple has finally launched it in India. This heavily populated market is comparable in size to China. However, Apple has not yet been able to make too many inroads in terms of sales.
There are few big markets that Apple has yet to crack. But one of the biggest, India, it’s really struggled with. In a population of more than 1.311 billion people, Apple holds just a few measly percentage points of the local smartphone market.
But things may be looking up slightly, as a new report makes clear.