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Costliest iPhones so far as of 2023 – Why are new iPhones so pricey?

Costliest iPhones so far as of 2023: The newest iPhone 15 series phones are keenly anticipated by Apple iPhone fans. The official release date for these new-generation iPhones is set for September 22, and preorders have already started. however, the prices of the new iPhone models will be extremely high compared to its predeccessors.

The Pro variants, on the other hand, represent a significant price increase. The iPhone 15 Pro and iPhone 15 Pro Max are now slightly more expensive. The iPhone 15 Pro costs Rs 1,34,900, while the iPhone 15 Pro Max costs Rs 1,59,900. This is a Rs 5,000 and Rs 20,000 gain, respectively. Interestingly, Apple has increased the iPhone 15 Pro Max’s standard storage capacity from 128GB to 256GB. Importantly, this price increase is not limited to India but is widespread.

Costliest iPhones so far as of 2023 – New iPhones seems to be more costlier

Costliest iPhones so far as of 2023
Costliest iPhones so far as of 2023

Apple’s footprint in India has grown since 2016, when the corporation began producing select iPhone models locally. According to reports from the India Cellular and Electronics Association (ICEA) and government officials, India’s smartphone exports surpassed $11 billion in the fiscal year ending in March, above the $9-10 billion objective. Notably, Apple was responsible for roughly half of these shipments.

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According to recent sources, Apple is preparing to locally produce the iPhone 15 Plus in the coming quarter, following the successful launch of iPhone 15 production in India.

Despite rising domestic production, India continues to have much higher prices for iPhones than the US, Dubai, and Singapore. First off, although they are manufactured there, iPhones are not totally “made in India.” The supply chain for iPhone manufacturing still depends on parts coming from abroad. As a result, Apple is charged customs fees, which have an immediate effect on the ultimate costs. The cost is also increased by the 18% Goods and Services Tax (GST), bringing the total increase to the final price to 40%.

Costliest iPhones so far as of 2023
Costliest iPhones so far as of 2023

According to analysts, the profit margins obtained from the sale of “Pro” models aid in the affordability of base models and older-generation iPhones. This strategy has resulted in significant price cuts, making iPhones more competitively priced in India when compared to locations such as Dubai and Singapore.

While the quantity of iPhones made in India has increased dramatically over the years, not all models are manufactured in India. This reality precludes Apple from having two pricing tiers for domestically built iPhones and imported iPhones.

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Nivedita Bangari
Nivedita Bangari
I am a software engineer by profession and technology is my love, learning and playing with new technologies is my passion.

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